REG-Pan African Resources Plc: Production Guidance & Senior Management Changes

Pan African ResourcesAnnouncement

15/12/2020 07:05

Pan African Resources PLC

(Incorporated and registered in England and Wales under 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)

PRODUCTION GUIDANCE AND SENIOR MANAGEMENT CHANGES

Pan African is pleased to advise shareholders of the following operational
developments:

1. Production guidance

The Group expects to produce approximately 97,000oz for the six months ending
31 December 2020, and is on track to meet its production guidance of
approximately 190,000oz (2019: 179,457oz) for the 2021 financial year.

2. Senior executive changes

Pan African wishes to announce the retirement of its Chief Operating Officer,
Andre van den Bergh, with effect from 1 January 2021. 

Andre, the Group’s longest serving employee, rendered uninterrupted service
for 46 years with Group companies.

Bert van den Berg will be assuming the position of Chief Operating Officer
with effect from 1 January 2021.

An experienced mining engineer, Bert joined Pan African in 2016 as Group
Manager: Projects and Business Improvement, following a successful career that
spanned 14 years with one of the world’s largest platinum producers. Bert
previously held senior positions including Group Mining Engineer, General
Manager and Mine Manager. Since joining Pan African, Bert played an
instrumental role in the Group’s capital projects, instilling operational
efficiencies and improving the Group’s safety record. He holds a BSc.
Engineering degree in Mining from the University of the Witwatersrand, Mine
Managers Certificate of Competency and is a proud member of AMMSA and SAIMM.

Niel Symington, currently the Group Management Accounting and IT Manager, will
be assuming the role of Executive: Shared Services, which will entail managing
the Group’s Human Resources, Management Accounting and Information
Technology functions.  Niel has been with the Group since 2011 in various
senior management roles.

Cobus Loots, CEO, commented: “Andre leaves behind a lasting legacy, his
invaluable contributions to the safety of our people, operational improvements
and human resource excellence supported the success of Pan African’s
operations over many years.

We thank Andre for his dedicated years of service and wish him a productive
and healthy retirement.  We also look forward to the contributions of Bert
and Niel to the continued success of the Group.”

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

15 December 2020

Certain information communicated in this announcement was, prior to its
publication, inside information for the purposes of Article 7 of Regulation
596/2014.

For further information on Pan African and its ESG initiatives, please visit
the Company's website at www.panafricanresources.com

 Contact 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 Suite 31 Second Floor 107 Cheapside London EC2V 6DN United Kingdom Office: + 44 (0)20 7796 8644  
 Cobus Loots Pan African Resources PLC Chief Executive Officer Office: + 27 (0)11 243 2900                                                                                         Deon Louw Pan African Resources PLC Financial Director Office: + 27 (0)11 243 2900                                 
 Phil Dexter/Jane Kirton St James's Corporate Services Limited Company Secretary Office: + 44 (0)20 7796 8644                                                                      Ross Allister/David McKeown Peel Hunt LLP Nominated Adviser and Joint Broker Office: +44 (0)20 7418 8900           
 Ciska Kloppers Questco Corporate Advisory Proprietary Limited JSE Sponsor Office: + 27 (0)11 011 9200                                                                             Thomas Rider/Neil Elliot BMO Capital Markets Limited Joint Broker Office: +44 (0)20 7236 1010                      
 Hethen Hira Pan African Resources PLC Head: Investor Relations Tel: + 27 (0)11 243 2900 E-mail: hhira@paf.co.za                                                                   Website: www.panafricanresources.com                                                                               



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