PAF.L

Pan African Resources Plc
Pan African Resources Plc - Registration of Capital Reduction and Effective Date
19th July 2024, 11:04
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Pan African    Pan African Resources Funding
Resources PLC  Company Limited

(Incorporated  Incorporated in the Republic of
and            South Africa with limited
registered in  liability
England and
Wales under    Registration number:
the Companies  2012/021237/06
Act 1985 with
registered     Alpha code: PARI
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)

REGISTRATION OF CAPITAL REDUCTION AND EFFECTIVE DATE

The Company is pleased to announce that, further to the announcement on 10 June
2024, confirming the passing of the resolution at the general meeting of the
Company to approve the cancellation of the Company's share premium account (the
"Capital Reduction Resolution"), the reduction of capital ("Capital Reduction")
has now become effective.

Following the passing of this resolution, formal approval by the High Court of
Justice (the "Court") of the Capital Reduction was granted on 2 July 2024. The
Court order confirming the Capital Reduction and statement of capital approved
by the Court, was registered with the Registrar of Companies on 18 July 2024,
and therefore the Capital Reduction became effective on this date.

Details of the Capital Reduction, the purpose of which was to create
distributable reserves and to enable the Company to address certain historic
dividends issues, were more particularly set out in the Company's notice of
general meeting, published by the Company on 24 May 2024, a copy of which is
available on the Company's website.

Following the Capital Reduction, the Company's net asset value and  number of
ordinary shares of 2,222,862,046 in issue (including 306,358,058 shares held in
treasury) remains unchanged.

Rosebank

19 July 2024

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

www.panafricanresources.com

+-----------------------------------------------+---------------------------+
|Corporate information                                                      |
+-----------------------------------------------+---------------------------+
|Corporate office                               |Registered office          |
|                                               |                           |
|The Firs Building                              |2nd Floor                  |
|                                               |                           |
|2nd Floor, Office 204                          |107 Cheapside              |
|                                               |                           |
|Cnr. Cradock and Biermann Avenues              |London                     |
|                                               |                           |
|Rosebank, Johannesburg                         |EC2V 6DN                   |
|                                               |                           |
|South Africa                                   |United Kingdom             |
|                                               |                           |
|Office: + 27 (0)11 243 2900                    |Office: + 44 (0)20 3869    |
|                                               |0706                       |
|info@paf.co.za                                 |                           |
|                                               |info@paf.co.za             |
+-----------------------------------------------+---------------------------+
|Chief executive officer                        |Financial directorand debt |
|                                               |officer                    |
|Cobus Loots                                    |                           |
|                                               |Deon Louw                  |
|Office: + 27 (0)11 243 2900                    |                           |
|                                               |Office: + 27 (0)11 243 2900|
+-----------------------------------------------+---------------------------+
|Head: Investor relations                       |Website:                   |
|                                               |www.panafricanresources.com|
|Hethen Hira                                    |                           |
|Tel: + 27 (0)11 243 2900                       |                           |
|E-mail: hhira@paf.co.za                        |                           |
+-----------------------------------------------+---------------------------+
|Company secretary                              |Nominated adviser and joint|
|                                               |broker                     |
|Jane Kirton                                    |                           |
|                                               |Ross Allister/Georgia      |
|St James's Corporate Services Limited          |Langoulant                 |
|                                               |                           |
|Office: + 44 (0)20 3869 0706                   |Peel Hunt LLP              |
|                                               |                           |
|                                               |Office: +44 (0)20 7418 8900|
+-----------------------------------------------+---------------------------+
|JSE Sponsor and JSE debt sponsor               |Joint broker               |
|                                               |                           |
|Ciska Kloppers                                 |Thomas Rider/Nick Macann   |
|                                               |                           |
|Questco Corporate Advisory Proprietary Limited |BMO Capital Markets Limited|
|                                               |                           |
|Office: + 27 (0)11 011                         |Office: +44 (0)20 7236 1010|
|9200 (https://www.google.co.za/search?q=questco|                           |
|&rlz=1C1EJFC_enZA816ZA818&oq=q                 |                           |
|uestco&aqs=chrome..69i57j0l5.1                 |                           |
|159j0j4&sourceid=chrome&ie=UTF-8)              |                           |
+-----------------------------------------------+---------------------------+
|                                               |Joint broker               |
|                                               |                           |
|                                               |Matthew Armitt/Jennifer Lee|
|                                               |                           |
|                                               |Joh. Berenberg, Gossler &  |
|                                               |Co KG                      |
|                                               |                           |
|                                               |Office: +44 (0)20 3207 7800|
+-----------------------------------------------+---------------------------+

This information was brought to you by Cision http://news.cision.com

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