REG-Pan African Resources Plc: Delay in Share Capital Reduction

Pan African ResourcesAnnouncement

Today 08:15

Pan African Resources PLC                                                 
    Pan African Resources Funding Company

(Incorporated and registered in England and Wales                           
     Limited

under Companies Act 1985 with registered                                   
        Incorporated in the Republic of South Africa

number 3937466 on 25 February 2000)                                        
  with limited liability

Share code on LSE: PAF                                                    
            Registration number: 2012/021237/06

Share code on JSE: PAN                                                    
            Alpha code: PARI

ISIN: GB0004300496

ADR code: PAFRY

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

 

DELAY IN SHARE CAPITAL REDUCTION

Pan African refers to the proposed share capital reduction involving the
cancellation of the Company’s share premium account and the cancellation and
extinguishment of certain shares in the Company’s capital ("                
    Share Capital Reduction                    "). Pan African announces that,
at a hearing held on 19 December 2025, the Court was not satisfied that notice
of the general meeting at which resolutions were passed to approve and
implement the Share Capital Reduction had been appropriately given to all
shareholders. Certain shareholders in South Africa had indicated that they
would not normally wish to receive notices from the Company and hence did not
receive the formal notification of the capital reduction. Notwithstanding that
several of shareholders in this category became aware of the meeting through
other means and voted on the resolutions in any event, the Court determined
that the Share Capital Reduction could not proceed. Accordingly, the Share
Capital Reduction will not be proceeding on the timetable originally
envisaged.

Instead, it is envisaged that the Company will convene another general
meeting, by distributing a new circular and notice of general meeting to all
shareholders, in the New Year. The purpose of the general meeting will be to
seek a renewed approval of the Share Capital Reduction. If approved, the
Company intends to pursue the Share Capital Reduction shortly thereafter.

Rosebank

22 December 2025

 

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

www.panafricanresources.com

 

 Corporate information                                                                                                                                                                                                                                                                                                             
 Corporate Office   The Firs 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   107 Cheapside, 2 nd Floor  London, EC2V 6DN  United Kingdom  Office: + 44 (0)20 3869 0706   jane.kirton@corpserv.co.uk  
 Chief Executive Officer     Cobus Loots   Office: + 27 (0)11 243 2900                                                                                                                 Financial Director and debt officer   Marileen Kok  Office: + 27 (0)11 243 2900                                                             
 Head: Investor Relations       Hethen Hira                                                                                                                                            Website:  www.panafricanresources.com                                                                                                       
  Tel: + 27 (0)11 243 2900                                                                                                                                                                                                                                                                                                         
  E-mail:  hhira@paf.co.za                                                                                                                                                                                                                                                                                                         
 Company Secretary   Jane Kirton   St James's Corporate Services Limited   Office: + 44 (0)20 3869 0706                                                                                Joint Broker   Ross Allister/Georgia Langoulant   Peel Hunt LLP   Office: +44 (0)20 7418 8900                                               
 JSE Sponsor & JSE Debt Sponsor   Ciska Kloppers   Questco Corporate Advisory Proprietary Limited   Office: + 27 (0) 63 482 3802                                                       Joint Broker   Thomas Rider/Nick Macann   BMO Capital Markets Limited   Office: +44 (0)20 7236 1010                                         
                                                                                                                                                                                       Joint Broker   Matthew Armitt/Jennifer Lee   Joh. Berenberg, Gossler & Co KG (Berenberg)   Office: +44 (0)20 3207 7800                      

 

 

 



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