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Pan African Resources Plc (PAF)

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Friday 18 September, 2020

Pan African Resources Plc

Director/PDMR Shareholding

Pan African Resources PLC
(Incorporated and registered in England and Wales under the 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 or the Group)

PDMR Dealings

Pan African announces that, following the restructuring of the Group’s long-term incentive schemes as announced on 17 September 2020, the Company has received notifications from the Directors and Persons Discharging Managerial Responsibilities (PDMR) set out in the tables below.

As part of the restructuring, certain executive directors and prescribed officers have agreed to relinquish the share options issued to them under the Pan African Corporate Share Option Scheme established (PACOS). In addition, the executive directors namely Cobus Loots (Chief Executive Officer) and Deon Louw (Financial Director) have agreed to relinquish their entitlement to receive shares in respect of the terms of their employment contracts. In lieu of the aforementioned relinquishments, the executive directors and prescribed officers will receive a restricted class B ordinary shares of no par value in the share capital of PAR Gold Proprietary Limited in terms of a newly established Pan African B Executive Incentive Scheme.

1.  Details of the person discharging managerial responsibilities / person closely associated
a.  Name Cobus Loots
2.  Reason for the notification
a.  Position/status Chief Executive Officer
b.  Initial notification/Amendment Initial Notification
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.  Name Pan African Resources PLC
b.  LEI 213800EAXURCXMX6RL85
4.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.  Description of the Financial instrument, type of instrument Identification code Options over ordinary shares of 1p each
Identification code: GB0004300496
b.  Nature of the transaction Relinquishment of share options
c.  Price(s) and volume(s)
Price(s) Volume(s)
n/a 12,427,686
d.  Aggregated information
See above
e.  Date of the transaction 16 September 2020
f.  Place of the transaction Off market

   

1.  Details of the person discharging managerial responsibilities / person closely associated
a.  Name Cobus Loots
2.  Reason for the notification
a.  Position/status Chief Executive Officer
b.  Initial notification/Amendment Initial Notification
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.  Name Pan African Resources PLC
b.  LEI 213800EAXURCXMX6RL85
4.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.  Description of the Financial instrument, type of instrument Identification code Ordinary shares of 1p each
Identification code: GB0004300496
b.  Nature of the transaction Relinquishment of share entitlement
c.  Price(s) and volume(s)
Price(s) Volume(s)
n/a 5,000,000
d.  Aggregated information
See above
e.  Date of the transaction 16 September 2020
f.  Place of the transaction Off market

   

1.  Details of the person discharging managerial responsibilities / person closely associated
a.  Name Deon Louw
2.  Reason for the notification
a.  Position/status Financial Director
b.  Initial notification/Amendment Initial Notification
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.  Name Pan African Resources PLC
b.  LEI 213800EAXURCXMX6RL85
4.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.  Description of the Financial instrument, type of instrument Identification code Options over ordinary shares of 1p each
Identification code: GB0004300496
b.  Nature of the transaction Relinquishment of share options
c.  Price(s) and volume(s)
Price(s) Volume(s)
n/a 8,690,599
d.  Aggregated information
See above
e.  Date of the transaction 16 September 2020
f.  Place of the transaction Off market

   

1.  Details of the person discharging managerial responsibilities / person closely associated
a.  Name Deon Louw
2.  Reason for the notification
a.  Position/status Financial Director
b.  Initial notification/Amendment Initial Notification
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.  Name Pan African Resources PLC
b.  LEI 213800EAXURCXMX6RL85
4.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.  Description of the Financial instrument, type of instrument Identification code Ordinary shares of 1p each
Identification code: GB0004300496
b.  Nature of the transaction Relinquishment of share entitlement
c.  Price(s) and volume(s)
Price(s) Volume(s)
n/a 3,100,000
d.  Aggregated information
See above
e.  Date of the transaction 16 September 2020
f.  Place of the transaction Off market

   

1.  Details of the person discharging managerial responsibilities / person closely associated
a.  Name Andre van den Bergh
2.  Reason for the notification
a.  Position/status Chief Operating Officer
b.  Initial notification/Amendment Initial Notification
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.  Name Pan African Resources PLC
b.  LEI 213800EAXURCXMX6RL85
4.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.  Description of the Financial instrument, type of instrument Identification code Options over ordinary shares of 1p each
Identification code: GB0004300496
b.  Nature of the transaction Relinquishment of share options
c.  Price(s) and volume(s)
Price(s) Volume(s)
n/a 8,109,463
d.  Aggregated information
See above
e.  Date of the transaction 16 September 2020
f.  Place of the transaction Off market

   

1.  Details of the person discharging managerial responsibilities / person closely associated
a.  Name Cobus Loots
2.  Reason for the notification
a.  Position/status Chief Executive Officer
b.  Initial notification/Amendment Initial Notification
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.  Name PAR Gold Proprietary Limited
b.  LEI N/A
4.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.  Description of the Financial instrument, type of instrument Identification code Restricted class B ordinary shares of no par value
b.  Nature of the transaction Award of shares
c.  Price(s) and volume(s)
Price(s) Volume(s)
R0.0001 17,107,579
d.  Aggregated information
See above
e.  Date of the transaction 16 September 2020
f.  Place of the transaction Off market

   

1.  Details of the person discharging managerial responsibilities / person closely associated
a.  Name Deon Louw
2.  Reason for the notification
a.  Position/status Financial Director
b.  Initial notification/Amendment Initial Notification
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.  Name PAR Gold Proprietary Limited
b.  LEI N/A
4.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.  Description of the Financial instrument, type of instrument Identification code Restricted class B ordinary shares of no par value
b.  Nature of the transaction Award of shares
c.  Price(s) and volume(s)
Price(s) Volume(s)
R0.0001 11,523,153
d.  Aggregated information
See above
e.  Date of the transaction 16 September 2020
f.  Place of the transaction Off market

   

1.  Details of the person discharging managerial responsibilities / person closely associated
a.  Name Andre van den Bergh
2.  Reason for the notification
a.  Position/status Chief Operating Officer
b.  Initial notification/Amendment Initial Notification
3.  Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.  Name PAR Gold Proprietary Limited
b.  LEI N/A
4.  Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.  Description of the Financial instrument, type of instrument Identification code Restricted class B ordinary shares of no par value
b.  Nature of the transaction Award of shares
c.  Price(s) and volume(s)
Price(s) Volume(s)
R0.0001 7,541,800
d.  Aggregated information
See above
e.  Date of the transaction 16 September 2020
f.  Place of the transaction Off market

For further information on Pan African, please visit the Company's website at

www.panafricanresources.com

Contact information
Corporate Office
The Firs Office Building
2nd Floor, Office 204
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office:  + 27 (0)11 243 2900
[email protected]
Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Office: + 44 (0)20 7796 8644
Cobus Loots 
Pan African Resources PLC 
Chief Executive Officer 
Office: + 27 (0)11 243 2900 
Deon Louw
Pan African Resources PLC
Financial Director
Office: + 27 (0)11 243 2900
Phil Dexter/Jane Kirton
St James's Corporate Services Limited
Company Secretary
Office: + 44 (0)20 7796 8644
Ross Allister/David McKeown
Peel Hunt LLP
Nominated Adviser and Joint Broker
Office: +44 (0)20 7418 8900
Ciska Kloppers
Questco Corporate Advisory Proprietary Limited
JSE Sponsor
Office: + 27 (0)11 011 9200
Thomas Rider/Neil Elliot
BMO Capital Markets Limited
Joint Broker
Office: +44 (0)20 7236 1010
Hethen Hira
Pan African Resources PLC
Head: Investor Relations
Tel: + 27 (0)11 243 2900
E-mail: [email protected]
Website: www.panafricanresources.com

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