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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

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 Financial Director, Deon Louw, bought 230,000 ordinary shares of 1p each in Pan African Resources on 26 May 2023.

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Following this transaction, which is detailed in the PDMR Notification Dealing Form below, Mr Louw has an indirect beneficial interest of 3,122,349 ordinary shares, representing 0.1405% of the Company's issued share capital and a direct beneficial interest of 988,112 ordinary shares, representing 0.0445% of the Company's issued share capital.

The below information and notification are made in accordance with the EU Market Abuse Regulation and the JSE Listings Requirements.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Deon Louw

Reason for the notification

a)

Position/status:

Finance Director

b)

Initial notification/Amendment:

Initial notification

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Company name:

Pan African Resources PLC

b)

LEI:

213800EAXURCXMX6RL85

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:

Ordinary shares of 1p each

Identification code: GB0004300496

b)

Nature of the transaction:

Acquisition of ordinary shares

c)

Price(s) and volume(s):

Price(s)

(ZA cents per share)

Volume(s)

325.00

3,000

326.00

50,000

327.00

10,000

327.00

15,000

330.00

100,000

330.00

20,000

332.00

15,000

333.00

7,000

334.00

10,000

d)

Aggregated information:

230,000 ordinary shares

VWAP ZA 329.13 cents per share

e)

Dates of the transaction:

26 May 2023

f)

Place of the transaction:

Johannesburg Stock Exchange

Additional information disclosed in accordance with the JSE Listings Requirements:

a)

Nature of interest of executive:

Direct beneficial

b)

On-market or off-market:

On-market

c)

Clearance given in terms of paragraph 3.66 of the JSE Listings Requirements:

Yes

d)

Total value of transaction

ZAR 757,010.00

e)

Holding following transactions:

Indirect beneficial 3,122,349 ordinary shares,

Direct beneficial 988,112 ordinary shares

Johannesburg

30 May 2023

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

www.panafricanresources.com

Corporate 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

info@paf.co.za

Registered office

2nd Floor

107 Cheapside

London

EC2V 6DN

United Kingdom

Office: + 44 (0)20 7796 8644

info@paf.co.za

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
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za

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/David McKeown

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

Joint broker

Matthew Armitt/Jennifer Lee

Joh. Berenberg, Gossler & Co KG

Office: +44 (0)20 3207 7800