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Pan African Resources Plc - Transaction in Own Shares

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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” or the “Company” or the “Group”)

PAN AFRICAN RESOURCES PLC TRANSACTION IN OWN SHARES

Pan African, the South African gold producer, announces that on 21 April 2022, in accordance with the terms of its share buyback programme announced on 1 April 2022 (the “Programme”) it purchased the following number of ordinary shares of £0.01 each in the Company (“Ordinary Shares”) through Peel Hunt LLP (“Peel Hunt”) and RMB Morgan Stanley (“RMBMS”). The shares purchased will be cancelled.

Date of purchases

21 April 2022

Aggregate number of Ordinary Shares purchased

1,118,107

London Stock Exchange (“LSE”) purchases

Number of Ordinary Shares purchased on LSE

1,118,107

Lowest price paid per share (pence per share):

21.850

Highest price paid per share (pence per share):

21.850

Volume weighted average price paid per share (pence per share):

21.850

Johannesburg Stock Exchange (“JSE”) purchases

Number of Ordinary Shares purchased on JSE

-

Lowest price paid per share (ZAr per share):

-

Highest price paid per share (ZAr per share):

-

Volume weighted average price paid per share (ZAr per share):

-

Following the purchase, the Company will have 2,230,895,436 Ordinary Shares of £0.01 each in issue, of which 306,358,058 Ordinary Shares are held in treasury.

The above figure of 2,230,895,436 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

In accordance with Article 5(1)(b) of the UK version of Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, the tables below contain detailed information of the individual trades made by Peel Hunt as part of the Programme. The same information is also included for the trades made by RMBMS.

Individual transactions on LSE:

Number of shares purchased

Transaction price (pence per share)

Time of transaction

Execution venue

689,840

21.85

14:16:53

LSE

333,217

21.85

14:42:59

LSE

95,050

21.85

15:40:06

LSE

Individual transactions on JSE:

Number of shares purchased

Transaction price (ZAr per share)

Time of transaction

Execution venue

-

-

-

-

The information contained in this update is the responsibility of the Pan African board of directors and has not been reviewed or reported on by the Group’s external auditors.

Rosebank

22 April 2022

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
Corner Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office: + 27 (0) 11 243 2900
info@paf.co.za

Registered Office
Suite 31
Second 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
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za

Website: www.panafricanresources.com

Company secretary
Phil Dexter/Jane Kirton
St James's Corporate Services Limited
Office: + 44 (0) 20 7796 8644

Nominated Adviser and Joint Broker
Ross Allister/Alexander Allen
Peel Hunt LLP
Office: +44 (0) 20 7418 8900

JSE 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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