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 ADR ticker code: PAFRY (“Pan African Resources” or the “Company”)
| Pan African Resources Funding Company Limited Incorporated in the Republic of South Africa with limited liability Registration number: 2012/021237/06 Alpha code: PARI
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DIRECTOR’S DEALINGS IN SECURITIES
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
The Company announces it has received notification that Chief Executive Officer, Cobus Loots, disposed of 300,000 ordinary shares of 1p each in Pan African Resources on 27 June 2024.
The Company also announces that it has received notification that on 28 June 2024, LTS Ventures (Pty) Ltd, an entity associated with Chief Executive Officer Cobus Loots, entered into the following transactions:
- Collar transactions for 500,000 ordinary shares of 1p each in Pan African Resources
- The advance of a loan of ZAR 2,085,932 for a term of 2 years with 500,000 shares pledged as security for the loan and the dividend on these secured shares sacrificed for the loan’s tenure.
Following these transactions, Mr Loots has an indirect beneficial interest of 5,896,248 ordinary shares, representing 0.2653 % of the Company's issued share capital and a direct beneficial interest of 1,573,982 ordinary shares, representing 0.0708% of the Company's issued share capital and 314,280 open contracts for differences (CFDs).
The below information and notification are made in accordance with the EU Market Abuse Regulation and the JSE Listings Requirements.
1. |
| Details of the person discharging managerial responsibilities/person closely associated |
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| a) |
| Name: | Cobus Loots
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2. |
| Reason for the notification |
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| 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 |
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| a) |
| Company 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 |
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| a) |
| Description of the financial instrument, type of instrument:
| Ordinary shares of 1p each
Identification code: GB0004300496 | ||||||
| b) |
| Nature of the transaction: | Trade 1: Disposal of shares Trade 2: Collar structure Trade 3: Security for loan | ||||||
| c) |
| Price(s) and volume(s): | Trade 1: Disposal of 300,000 shares. VWAP ZA 612.97 cents per share.
Trade 2: Collar structure over 500,000 shares. Put option strike price (bought) ZA494.4 cents per share. Call option strike price (sold) ZA 959.0 cents per share. Trade 3: Pledged 500,000 shares with a dividend sacrifice as security for a 2 year term loan of ZAR 2,085,932.00. | ||||||
| d) |
| Aggregated information:
| Trade 1: Disposal value of ZAR1,838,902 Trade 2: Collar structure over 500,000 shares Trade 3: Loan amount ZAR2,085,932.00 | ||||||
| e) |
| Dates of the transactions: | Trade 1: 27 June 2024 Trade 2 and 3: 28 June 2024 | ||||||
| f) |
| Place of the transaction: | Johannesburg Stock Exchange |
Additional information disclosed in accordance with the JSE Listings Requirements:
| a) | Nature of interest of executive: | Trade 1: Direct beneficial Trade 2: Indirect beneficial Trade 3: Indirect beneficial |
| b) | On-market or off-market: | Trade 1: On-market Trade 2: Off-market Trade 3: Off-market |
| c) | Clearance given in terms of paragraph 3.66 of the JSE Listings Requirements: | Yes |
| d) | Total value of transactions | Trade 1: ZAR1,838,902.00 Trade 2: No premium Trade 3: ZAR2,085,932.00 |
| e) | Holding following transactions: | Indirect beneficial 5,896,248 ordinary shares Direct beneficial 1,573,982 ordinary shares 314,280 open CFDs |
Johannesburg
2 July 2024
For further information on Pan African, please visit the Company's website at
| Corporate information | |
| Corporate office The Firs Building 2nd Floor, Office 204 Cnr. Cradock and Biermann Avenues Rosebank, Johannesburg South Africa Office: + 27 (0)11 243 2900 | Registered office 2nd Floor 107 Cheapside London EC2V 6DN United Kingdom Office: + 44 (0)20 7796 8644 |
| Chief executive officer Cobus Loots Office: + 27 (0)11 243 2900 | Financial director Deon Louw Office: + 27 (0)11 243 2900 |
| Head: Investor relations Hethen Hira | Website: www.panafricanresources.com |
| Company secretary Jane Kirton St James's Corporate Services Limited Office: + 44 (0)20 7796 8644 | Nominated adviser and joint broker Ross Allister/Georgia Langoulant Peel Hunt LLP Office: +44 (0)20 7418 8900 |
| JSE Sponsor and JSE debt sponsor Ciska Kloppers Questco Corporate Advisory Proprietary Limited Office: + 27 (0)11 011 9200 | Joint broker Thomas Rider/Nick Macann BMO Capital Markets Limited Office: +44 (0)20 7236 1010 |
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| Joint broker Matthew Armitt/Jennifer Lee Joh. Berenberg, Gossler & Co KG Office: +44 (0)20 3207 7800 |
