Result of AGM

Pan African Resources PLC
(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
(“Pan African” or the “Company”)

RESULTS OF ANNUAL GENERAL MEETING

Pan African shareholders are advised that at the annual general meeting (“AGM”) of shareholders held on Friday, 27 November 2015, all the ordinary and special resolutions, as set out in the notice of AGM dated 30 October 2015, were approved by the requisite majority of shareholders present or represented by proxy.

The total number of Pan African shares eligible to vote at the AGM is 1,831,494,763. The highest number of shares voted in person or by proxy was 1,360,548,519 representing 74.29% of the total issued share capital of the same class of Pan African.

All resolutions proposed at the AGM, together with the percentage of shares abstained, as well as the percentage of votes carried for and against each resolution, are as follows:

Resolution number 1 (Ordinary resolution): To receive and adopt the directors’ report, the audited statement of accounts and the auditors’ report for the year ended 30 June 2015

Shares Voted
1,360,417,888
(74.28%)
Abstained
5,516
(0.00%)
For
100%
Against
0.00%

Resolution number 2 (Ordinary resolution): To approve the payment of a final dividend for the year ended 30 June 2015

Shares Voted
1,360,548,519
(74.29%)
Abstained
4,885
(0.00%)
For
100%
Against
0.00%

Resolution number 3 (Ordinary resolution): To re-elect Mrs H H Hickey as a member of the audit committee

Shares Voted
1,360,513,133
(74.28%)
Abstained
40,271
(0.00%)
For
99.99%
Against
0.01%


 

Resolution number 4 (Ordinary resolution): To re-elect Mr K C Spencer as a member of the audit committee

Shares Voted
1,360,513,133
(74.28%)
Abstained
40,271
(0.00%)
For
89.02%
Against
10.98%

Resolution number 5 (Ordinary resolution): To re-elect Mr T Mosololi as a member of the audit committee

Shares Voted
1,360,513,133
(74.28%)
Abstained
40,271
(0.00%)
For
99.99%
Against
0.01%

Resolution number 6 (Ordinary resolution): To endorse the Company’s Remuneration Policy

Shares Voted
1,360,509,162
(74.28%)
Abstained
44,242
(0.00%)
For
88.41%
Against
11.59%

Resolution number 7 (Ordinary resolution): To re-elect Mr K C Spencer as a director of the Company

Shares Voted
1,360,513,133
(74.28%)
Abstained
40,271
(0.00%)
For
94.16%
Against
5.84%

Resolution number 8 (Ordinary resolution): To re-elect Mr J A J Loots as a director of the Company

Shares Voted
1,360,513,133
(74.28%)
Abstained
40,271
(0.00%)
For
100%
Against
0.00%

Resolution number 9 (Ordinary resolution): To re-elect Mr G P Louw as a director of the Company

Shares Voted
1,360,513,133
(74.28%)
Abstained
40,271
(0.00%)
For
73.77%
Against
26.23%

Resolution number 10 (Ordinary resolution): To re-appoint Deloitte LLP as auditors of the Company and to authorise the directors to determine their remuneration

Shares Voted
1,360,524,793
(74.28%)
Abstained
28,611
(0.00%)
For
100%
Against
0.00%

Resolution number 11 (Ordinary resolution): To authorise the directors to allot equity securities

Shares Voted
1,360,468,078
(74.28%)
Abstained
85,326
(0.00%)
For
63.67%
Against
36.33%

Resolution number 12 (Special resolution): To approve market purchases of ordinary shares

Shares Voted
1,360,548,519
(74.29%)
Abstained
4,885
(0.00%)
For
99.95%
Against
0.05%

Notes

  • Percentages of shares voted are calculated in relation to the total issued share capital of Pan African eligible to vote
  • Percentage of shares for and against  are calculated in relation to the total number of shares voted at the AGM
  • Abstentions are calculated as a percentage in relation to the total issued share capital of Pan African eligible to vote

30 November 2015

Pan African Resources Enquiries

  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 / James Black
  St James's Corporate Services Limited Numis Securities Limited
  Company Secretary Nominated Adviser  and Joint Broker
  Office: + 44 (0)207 796 8644 Office: +44 (0)207 260 1000        
  Matthew Armitt / Ross Allister Sholto Simpson
  Peel Hunt LLP One Capital
  Joint Broker JSE Sponsor
  Office: +44 (0)020 7418 8900 Office: + 27 (0) 11 550 5009
  Julian Gwillim Daniel Thöle
  Aprio Strategic Communications Bell Pottinger PR
  Public & Investor Relations SA Public & Investor Relations UK
  Office: +27 (0)11 880 0037 Office: + 44 (0) 203 772 2500

http://www.panafricanresources.com/

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