Salient Dividend Dates

Pan African Resources PLC

("Pan African" or the "Company" or the "Group")

(Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000)

Share code on AIM: PAF

Share code on JSE: PAN

ISIN: GB0004300496

Salient Dividend Dates

At the Annual General Meeting of the Company held on Friday, 27 November 2015 shareholders approved the payment of a final dividend of 11.46604 cents per share, equivalent to 0.53108 pence per share, converted at the rate of ZAR21.59 : GBP 1.00 on the currency conversion date.

The salient dates of the dividend payment are as follows:

	2015
Currency conversion date	Friday, 27 November
Last date to trade on the JSE	Friday, 4 December
Ex-Dividend date on the JSE	Monday, 7 December
Ex-Dividend date on the LSE	Thursday, 10 December
Record date	Friday, 11 December
Payment date	Friday, 24 December

1. No transfers between the Johannesburg and London registers between commencement of trading on Monday, 30 November 2015 and close of business on Friday, 11 December 2015 will be permitted.
2. No shares may be dematerialised or rematerialised between Monday, 7 December 2015 and Friday, 11 December 2015, both days inclusive.

The local dividends tax rate is fifteen percent per ordinary share and therefore shareholders who are liable to pay the dividends tax will receive a net dividend of 9.74613 cents per share (0.45142 pence per share).  The Company’s South African income tax reference number is 9154588173 and it has 1,831,494,763 shares currently in issue.

Johannesburg

30 November 2015

Contact Details

Corporate Office

The Firs Office Building

1st Floor, Office 101

Cnr. Cradock and Biermann Avenues

Rosebank, Johannesburg

South Africa

Office:   + 27 (0) 11 243 2900

Facsmile: + 27 (0) 11 880 1240

Registered Office

Suite 31

Second Floor

107 Cheapside

London

EC2V 6DN

United Kingdom

Office:   + 44 (0)20 7796 8644

Facsmile: + 44 (0)20 7796 8645

Cobus Loots	Deon Louw
Pan African Resources PLC	Pan African Resources PLC
Chief Executive Officer	Financial Director
Office: + 27 (0)11 243 2900	Office: + 27 (0) 11 243 2900

Phil Dexter	John Prior / Paul Gillam
St James's Corporate Services Limited	Numis Securities Limited
Company Secretary	Nominated Adviser and Joint Broker
Office: + 44 (0)20 7796 8644	Office: [phone]

Sholto Simpson	Matthew Armitt / Ross Allister
One Capital	Peel Hunt LLP
JSE Sponsor	Joint Broker
Office: + 27 (0)11 550 5009	Office: [phone]

Julian Gwillim	Daniel Thole
Aprio Strategic Communications	Bell Pottinger PR
Public & Investor Relations SA	Public & Investor Relations UK
Office: [phone]	Office: + 44 (0)203 772 2500

www.panafricanresources.com