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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 26 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

26 April 2022

Aggregate number of Ordinary Shares purchased

2,314,538

London Stock Exchange (“LSE”) purchases

Number of Ordinary Shares purchased on LSE

1,327,529

Lowest price paid per share (pence per share):

20.353

Highest price paid per share (pence per share):

20.74

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

20.72

Johannesburg Stock Exchange (“JSE”) purchases

Number of Ordinary Shares purchased on JSE

987,009

Lowest price paid per share (ZAr per share):

401.00

Highest price paid per share (ZAr per share):

417.00

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

412.78

Following the purchase, the Company will have 2,225,894,330 Ordinary Shares of £0.01 each in issue, of which 306,358,058 Ordinary Shares are held in treasury.

The above figure of 2,225,894,330 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

65,000

20.353

08:51:03

LSE

1,262,529

20.74

09:04:43

LSE

Individual transactions on JSE:

Number of shares purchased

Transaction price (ZAr per share)

Time of transaction

Execution venue

11,820

401.00

09:00:41

JSE

10,835

407.00

09:04:39

JSE

11,304

405.00

09:19:34

JSE

11,146

404.00

09:21:06

JSE

10,202

407.00

09:30:35

JSE

19,530

409.00

09:32:37

JSE

10,403

408.00

09:32:37

JSE

5,549

413.00

09:50:16

JSE

10,881

413.00

09:51:43

JSE

12,180

413.00

09:51:43

JSE

12,492

411.00

10:04:03

JSE

8,582

411.00

10:17:57

JSE

2,269

411.00

10:17:57

JSE

38

412.00

10:23:59

JSE

7,570

412.00

10:23:59

JSE

10,836

410.00

10:27:45

JSE

11,703

410.00

10:27:45

JSE

10,364

411.00

10:40:56

JSE

1,597

413.00

10:46:57

JSE

10,265

413.00

10:46:57

JSE

467

417.00

10:57:18

JSE

3,380

417.00

10:57:18

JSE

6,909

417.00

10:57:18

JSE

10,806

415.00

10:59:36

JSE

10,843

415.00

10:59:36

JSE

10,050

414.00

10:59:36

JSE

10,624

414.00

10:59:36

JSE

10,145

414.00

11:24:51

JSE

410

414.00

11:31:04

JSE

2,044

414.00

11:31:15

JSE

6,536

414.00

11:36:57

JSE

3,668

414.00

11:36:57

JSE

10,320

415.00

11:38:30

JSE

12,151

416.00

11:44:43

JSE

10,313

416.00

11:52:09

JSE

2,614

416.00

11:53:24

JSE

61,943

415.00

11:59:11

JSE

16,881

415.00

12:00:12

JSE

8,197

415.00

12:17:26

JSE

2,613

415.00

12:17:26

JSE

3,004

415.00

12:23:35

JSE

8,956

415.00

12:23:35

JSE

987

415.00

12:30:56

JSE

8,581

415.00

12:30:56

JSE

2,624

415.00

12:30:56

JSE

2,501

415.00

12:38:48

JSE

9,669

415.00

12:38:48

JSE

6,363

415.00

12:46:31

JSE

5,172

415.00

12:46:31

JSE

30,812

414.00

12:55:34

JSE

10,050

414.00

12:55:34

JSE

11,595

412.00

13:18:35

JSE

11,354

412.00

13:18:35

JSE

10,059

411.00

13:18:57

JSE

11,128

410.00

13:39:24

JSE

6,553

410.00

13:46:04

JSE

3,893

410.00

13:46:04

JSE

5,687

410.00

13:52:27

JSE

5,985

410.00

13:52:27

JSE

5,238

410.00

13:59:25

JSE

5,353

410.00

13:59:25

JSE

28,871

408.00

14:03:14

JSE

3,020

410.00

14:21:39

JSE

8,893

410.00

14:21:39

JSE

703

410.00

14:28:02

JSE

10,059

410.00

14:28:02

JSE

1,407

409.00

14:28:45

JSE

11,010

410.00

14:34:18

JSE

2,600

409.00

14:37:01

JSE

524

410.00

14:41:59

JSE

10,528

410.00

14:41:59

JSE

1,050

409.00

14:44:06

JSE

1,037

411.00

14:48:40

JSE

11,230

411.00

14:48:40

JSE

31,089

410.00

14:49:58

JSE

3,518

412.00

15:13:28

JSE

6,130

412.00

15:13:28

JSE

14,642

414.00

15:17:57

JSE

8,156

414.00

15:17:57

JSE

5,151

414.00

15:20:57

JSE

4,927

414.00

15:20:57

JSE

3,024

414.00

15:25:05

JSE

3,273

414.00

15:25:05

JSE

127

414.00

15:27:42

JSE

13,494

415.00

15:37:21

JSE

23,190

415.00

15:37:21

JSE

20,673

415.00

15:37:21

JSE

1,267

415.00

15:48:53

JSE

181

414.00

15:59:47

JSE

33,690

414.00

16:00:29

JSE

34,024

414.00

16:00:29

JSE

10,650

413.00

16:12:36

JSE

11,529

414.00

16:19:44

JSE

20,000

414.00

16:21:37

JSE

10,295

415.00

16:39:59

JSE

3,961

417.00

16:47:28

JSE

10,601

417.00

16:47:48

JSE

623

417.00

16:47:48

JSE

1,589

417.00

16:47:48

JSE

49,444

417.00

16:47:48

JSE

1,198

417.00

16:47:48

JSE

13,587

415.00

16:48:46

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

26 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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