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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 6 May 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

6 May 2022

Aggregate number of Ordinary Shares purchased

2,675,817

London Stock Exchange (“LSE”) purchases

Number of Ordinary Shares purchased on LSE

1,603,508

Lowest price paid per share (pence per share):

22.095

Highest price paid per share (pence per share):

22.24

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

22.12817

Johannesburg Stock Exchange (“JSE”) purchases

Number of Ordinary Shares purchased on JSE

1,072,309

Lowest price paid per share (ZAr per share):

435.00

Highest price paid per share (ZAr per share):

424.00

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

431.16

Following the purchase, the Company will have 2,223,207,520 Ordinary Shares of £0.01 each in issue, of which 306,358,058 Ordinary Shares are held in treasury.

The above figure of 2,223,207,520 may be used by shareholders as the denominator for calculating whether 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

250,000

22.12

14:05:13

LSE

323,717

22.24

14:37:42

LSE

1,029,791

22.095

14:52:27

LSE

Individual transactions on JSE:

Number of shares purchased

Transaction price (ZAr per share)

Time of transaction

Execution venue

29,463

433.00

09:07:11

JSE

3,327

432.00

09:19:40

JSE

6,800

432.00

09:19:40

JSE

5,010

431.00

09:23:59

JSE

18,697

429.00

09:23:59

JSE

1,398

429.00

09:23:59

JSE

10,314

428.00

09:28:01

JSE

101

428.00

09:28:01

JSE

7,500

425.00

09:45:10

JSE

2,550

425.00

09:45:10

JSE

6,430

425.00

09:50:02

JSE

1,904

425.00

09:50:02

JSE

6,445

430.00

10:00:24

JSE

13,849

430.00

10:00:24

JSE

1,266

430.00

10:03:47

JSE

10,000

430.00

10:03:47

JSE

5,000

426.00

10:04:17

JSE

4,781

426.00

10:04:18

JSE

8,934

430.00

10:13:19

JSE

2,887

430.00

10:13:19

JSE

11,497

428.00

10:18:52

JSE

11,737

428.00

10:24:06

JSE

8,600

430.00

10:29:25

JSE

3,301

430.00

10:29:25

JSE

2,442

430.00

10:35:19

JSE

3,530

430.00

10:35:19

JSE

5,500

430.00

10:35:19

JSE

10,075

427.00

10:46:13

JSE

11,449

427.00

10:46:22

JSE

9,209

424.00

10:51:33

JSE

5,796

424.00

10:56:08

JSE

5,739

424.00

10:56:08

JSE

5,004

424.00

11:02:02

JSE

6,007

424.00

11:02:02

JSE

12,776

427.00

11:31:36

JSE

10,300

427.00

11:31:36

JSE

2,297

426.00

11:31:36

JSE

5,285

428.00

11:33:20

JSE

25,630

428.00

11:33:20

JSE

12,247

430.00

11:52:59

JSE

21,911

430.00

11:52:59

JSE

89

430.00

11:55:40

JSE

9,835

430.00

11:57:40

JSE

10,480

428.00

12:00:21

JSE

8,867

431.00

12:35:05

JSE

1,847

431.00

12:35:05

JSE

42,304

431.00

12:35:05

JSE

10,108

431.00

12:36:14

JSE

11,246

431.00

12:41:51

JSE

10,515

431.00

12:48:04

JSE

11,812

431.00

12:53:44

JSE

11,822

431.00

13:00:24

JSE

101

431.00

13:00:24

JSE

11,234

431.00

13:06:40

JSE

11,354

430.00

13:12:34

JSE

10,785

430.00

13:18:36

JSE

10,572

430.00

13:24:10

JSE

1,822

430.00

13:29:41

JSE

8,602

430.00

13:29:41

JSE

11,090

430.00

13:39:49

JSE

10,237

430.00

13:45:25

JSE

10,100

431.00

13:50:43

JSE

11,946

430.00

13:55:48

JSE

11,294

430.00

14:01:49

JSE

11,235

430.00

14:07:42

JSE

1,103

432.00

14:12:58

JSE

4,271

432.00

14:12:58

JSE

5,000

432.00

14:12:58

JSE

150

430.00

14:21:24

JSE

1,917

432.00

14:30:40

JSE

31,800

432.00

14:30:40

JSE

3,512

432.00

14:33:28

JSE

7,636

432.00

14:33:28

JSE

10,348

432.00

14:38:15

JSE

5,612

433.00

14:44:32

JSE

5,672

433.00

14:44:32

JSE

10,173

435.00

14:48:33

JSE

2,164

433.00

14:51:46

JSE

18,068

433.00

14:51:46

JSE

10,180

433.00

14:51:46

JSE

7,317

433.00

15:04:10

JSE

11,084

435.00

15:08:06

JSE

30,388

433.00

15:16:25

JSE

6,577

434.00

15:39:47

JSE

11,074

434.00

15:39:47

JSE

3,948

434.00

15:41:00

JSE

5,044

434.00

15:41:00

JSE

5,206

434.00

15:41:00

JSE

10,108

431.00

15:51:11

JSE

10,278

431.00

15:51:11

JSE

10,347

431.00

15:51:11

JSE

10,076

431.00

15:51:11

JSE

4,540

431.00

16:05:00

JSE

15,088

431.00

16:05:00

JSE

3,408

431.00

16:06:13

JSE

6,800

431.00

16:06:13

JSE

8,240

431.00

16:08:32

JSE

5,000

431.00

16:16:08

JSE

53,875

435.00

16:28:45

JSE

55,555

435.00

16:28:45

JSE

9,911

435.00

16:39:26

JSE

11,230

435.00

16:40:48

JSE

47,916

434.00

16:41:49

JSE

24,094

434.00

16:41:49

JSE

1,314

433.00

16:48:27

JSE

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

9 May 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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