Pan African Resources PLC
(Incorporated and registered in England and Wales under Companies Act 1985 with
registered number 3937466 on 25 February 2000)
AIM Code: PAF
JSE Code: PAN
ISIN: GB0004300496
("Pan African" or "the Company")
RESIGNATION OF CHIEF EXECUTIVE OFFICER
Pan African shareholders are advised that Mr Jan Nelson has resigned as the
Company's Chief Executive Officer ("CEO") and as a member of the board of
directors ("Board"), with effect from 1 March 2013. Mr Nelson's advice remains
available to the Company. He remains a director of Auroch Minerals, the holding
company of the Manica Gold Project.
The Board thanks Mr Nelson for his significant contribution to the growth of
Pan African, including in respect of the successful acquisition of Evander Gold
Mines Limited, and wishes him well with his future endeavours.
The Board has appointed Mr Ron Holding and Mr Cobus Loots as joint interim
CEO's, until a successor is appointed. Mr Holding is currently the Chief
Operating Officer of Pan African and has been an employee of Phoenix Platinum
Mining (Proprietary) Limited and Pan African since 2001. Mr Loots is the former
Chief Financial Officer of Pan African and has been a director of the Company
since 2009.
Keith Spencer, Chairman of the Board, commented: "We appreciate Jan's
significant contribution to the transformation and growth of Pan African and
particularly in respect of the successful acquisition of Evander Gold Mines.
The Board wishes him all the best with his future endeavours. Mr Nelson has
agreed that his counsel will remain available to the Company for a period
following his departure."
Mr Nelson commented: "I thank the Board for its good wishes and am proud to
leave the Company following the successful achievement of such a significant
milestone. I believe Evander will contribute significantly to Pan African's
medium to long term growth and my best wishes accompany all the staff and other
stakeholders in Pan African."
Johannesburg
27 February 2013
JSE Sponsor
One Capital
PAN AFRICAN ENQUIRIES
South Africa UK
Pan African Resources Canaccord Genuity Limited - Nomad and Joint Broker
Mr Cobus Loots Andrew Chubb / Peter Stewart
Director / Sebastian Jones / Joe Weaving
+27 (0) 11 305 8900 +44 (0) 20 7523 8350
Mr Ron Holding
Chief Operating Officer
+27 (0) 11 243 2900
One Capital finnCap Limited - Joint Broker
Sholto Simpson / Megan Young Elizabeth Johnson / Joanna Weaving
+27 (0) 11 550 5000 +44 (0) 20 7220 0500
Vestor Investor Relations St James's Corporate Services Limited
Louise Brugman Phil Dexter
+27 (0) 11 787 3015 +44 (0) 20 7499 3916
+27 83 504 1186
Gable Communications
Justine James
+44 (0) 20 7193 7463 / +44 (0) 7525 324431
For further information on Pan African, please visit the website at
www.panafricanresources.com
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