REG-Pan African Resources Plc: Barberton Mines Wage Agreement <Origin Href="QuoteRef">PAFR.L</Origin>

Pan African ResourcesAnnouncement

18/10/2017 07:00

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

(“Pan African Resources” or the “Company” or the “Group”)

PAN AFRICAN RESOURCES SUCCESSFULLY CONCLUDES BARBERTON MINES
WAGE NEGOTIATIONS

Pan African Resources is pleased to announce that Barberton Mines Proprietary
Limited (“Barberton Mines”) has successfully concluded a one year wage
agreement with the National Union of Mineworkers (“NUM”)
(“Agreement”), this Agreement follows on from the previous two year wage
agreement which concluded on 30 June 2017. The Agreement is in addition to the
three year wage agreement
(1 July 2015 – 30 June 2018) with the United Association of South Africa
(“UASA”). NUM and UASA currently represent the employees of Barberton
Mines. In terms of the Agreement, the average wage increase for all Barberton
Mines employees will amount to approximately 8% per annum, effective from 1
July 2017.

Barberton Mines experienced a 2.5 day stoppage during the negotiation period.
The stoppage is not expected to affect the Group’s production guidance of
190,000oz for the financial year ending 30 June 2018.

For further information on Pan African Resources, please visit the Company’s
website at www.panafricanresources.com

18 October 2017

Corporate Office

The Firs Office Building
1st Floor, Office 101
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa

Office:   + 27 (0) 11 243 2900
Facsimile: + 27 (0) 11 880 1240

Registered Office

Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom

Office:   + 44 (0) 20 7796 8644
Facsimile: + 44 (0) 20 7796 8645

Cobus Loots                                      Deon Louw
Pan African Resources PLC               Pan African Resources PLC
Chief Executive Officer                      Financial Director
Office: + 27 (0) 11 243 2900               Office: + 27 (0) 11 243 2900

Phil Dexter                                          
John Prior / Paul Gillam
St James's Corporate Services Limited   Numis Securities Limited
Company Secretary                               Nominated
Adviser and Joint Broker
Office: + 44 (0) 20 7796 8644                  Office: +44 (0) 20
7260 1000

Sholto Simpson                                   Ross
Allister/Chris Burrows
One Capital                                         Peel
Hunt LLP
JSE Sponsor                                      Joint
Broker
Office: + 27 (0) 11 550 5009                 Office: +44 (0) 20 7418
8900

Julian Gwillim                                      Jeffrey
Couch/Neil Haycock/Thomas Rider
Aprio Strategic Communications           BMO Capital Markets Limited
Public & Investor Relations SA             Joint Broker
Office: +27 (0)11 880 0037                   Office: +44 (0) 20 7236
1010

Bobby Morse/Chris Judd
Buchanan Communications
Public & Investor Relations UK
Office: +44 (0) 207 466 5000

www.panafricanresources.com



Copyright (c) 2017 PR Newswire Association,LLC. All Rights Reserved