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REG-Pan African Resources PLC: Director/PDMR Shareholding <Origin Href="QuoteRef">PAFR.L</Origin>

Pan African Resources PLC

(Incorporated and registered in England and Wales under Companies Act 1985
with registered number 3937466 on 25 February 2000)

AIM Code: PAF

JSE Code: PAN

ISIN: GB0004300496

("Pan African" or the “Company”)

DIRECTORS’ DEALINGS IN SECURITIES

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY
ASSOCIATED PERSONS

 1.          Details of the person discharging managerial responsibilities/person closely associated                                                                                                                                                                          
 a)          Name:                                                                                                                                                                                              Cobus Loots                                                   
 2.          Reason for the notification                                                                                                                                                                                                                                      
 a)          Position/status:                                                                                                                                                                                   Chief Executive Officer                                       
 b)          Initial notification/Amendment:                                                                                                                                                                    Initial notification                                          
 3.          Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor                                                                                                                                                    
 a)          Company name:                                                                                                                                                                                      Pan African Resources PLC                                     
 b)          LEI:                                                                                                                                                                                               Not applicable                                                
 4.          Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted                                                                
 a)          Description of the financial instrument, type of instrument:                                                                                                                                       Ordinary shares of 1p each Identification code: GB0004300496  
 b)          Nature of the transaction:                                                                                                                                                                         Acquisition of ordinary shares                                
 c)          Price(s) and volume(s): 5 October 2016                                                                                                                                                                                                                           
 Price(s)    Volume(s)                                                                                                                                                                                          
 ZAR3.55     30,000                                                                                                                                                                                             
 d)          Aggregated information:                                                                                                                                                                                                                                          
 Total       Volume(s)                                                                                                                                                                                          
 ZAR106,500  30,000                                                                                                                                                                                             
 e)          Date of the transaction:                                                                                                                                                                           5 October 2016                                                
 f)          Place of the transaction:                                                                                                                                                                          Johannesburg Stock Exchange                                   

Additional information disclosed in accordance with the JSE Listings
Requirements:

 a)  Nature of interest of executive:                                              Beneficial  
 b)  On-market or off-market:                                                      On-market   
 c)  Clearance given in terms of paragraph 3.66 of the JSE Listings Requirements:  Yes         
 d)  Holding following transactions:                                               560,675     

Correction of announcement dated 28 September 2016 and confirmation of
historical share purchases by the executive directors in line with Market
Abuse Regulations requirements of AIM listed companies and submission to the
Financial Conduct Authority:

 1.             Details of the person discharging managerial responsibilities/person closely associated                                                                                                                                                                          
 a)             Name:                                                                                                                                                                                              Cobus Loots                                                   
 2.             Reason for the notification                                                                                                                                                                                                                                      
 a)             Position/status:                                                                                                                                                                                   Chief Executive Officer                                       
 b)             Initial notification/Amendment:                                                                                                                                                                    Amendment                                                     
 3.             Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor                                                                                                                                                    
 a)             Company name:                                                                                                                                                                                      Pan African Resources PLC                                     
 b)             LEI:                                                                                                                                                                                               Not applicable                                                
 4.             Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted                                                                
 a)             Description of the financial instrument, type of instrument:                                                                                                                                       Ordinary shares of 1p each Identification code: GB0004300496  
 b)             Nature of the transaction:                                                                                                                                                                         Acquisition of ordinary shares                                
 c)             Price(s) and volume(s): 27 September 2016 28 September 2016                                                                                                                                                                                                      
 Price(s)       Volume(s)                                                                                                                                                                                          
 ZAR3.57        20,000                                                                                                                                                                                             
 Price(s)       Volume(s)                                                                                                                                                                                          
 ZAR3.58        200,000                                                                                                                                                                                            
 Price(s)       Volume(s)                                                                                                                                                                                          
 ZAR3.48        28,609                                                                                                                                                                                             
 d)             Aggregated information:                                                                                                                                                                                                                                          
 Total          Volume(s)                                                                                                                                                                                          
 ZAR886,959.32  248,609                                                                                                                                                                                            
 e)             Date of the transaction:                                                                                                                                                                           27-28 September 2016                                          
 f)             Place of the transaction:                                                                                                                                                                          Johannesburg Stock Exchange                                   

Additional information disclosed in accordance with the JSE Listings
Requirements:

 a)  Nature of interest of executive:                                              Beneficial  
 b)  On-market or off-market:                                                      On-market   
 c)  Clearance given in terms of paragraph 3.66 of the JSE Listings Requirements:  Yes         
 d)  Holding following transactions on 28 September 2016:                          480, 184    

   

 1.             Details of the person discharging managerial responsibilities/person closely associated                                                                                                                                                                          
 a)             Name:                                                                                                                                                                                              Deon Louw                                                     
 2.             Reason for the notification                                                                                                                                                                                                                                      
 a)             Position/status:                                                                                                                                                                                   Financial Director                                            
 b)             Initial notification/Amendment:                                                                                                                                                                    Clarification                                                 
 3.             Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor                                                                                                                                                    
 a)             Company name:                                                                                                                                                                                      Pan African Resources PLC                                     
 b)             LEI:                                                                                                                                                                                               Not applicable                                                
 4.             Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted                                                                
 a)             Description of the financial instrument, type of instrument:                                                                                                                                       Ordinary shares of 1p each Identification code: GB0004300496  
 b)             Nature of the transaction:                                                                                                                                                                         Acquisition of ordinary shares                                
 c)             Price(s) and volume(s): 27 September 2016                                                                                                                                                                                                                        
 Price(s)       Volume(s)                                                                                                                                                                                          
 ZAR3.57        4,300                                                                                                                                                                                              
 ZAR3.58        3,150                                                                                                                                                                                              
 ZAR3.62        35,000                                                                                                                                                                                             
 ZAR3.64        40,000                                                                                                                                                                                             
 ZAR3.66        12,836                                                                                                                                                                                             
 ZAR3.67        42,164                                                                                                                                                                                             
 d)             Aggregated information:                                                                                                                                                                                                                                          
 Total          Volume(s)                                                                                                                                                                                          
 ZAR500,649.64  137,450                                                                                                                                                                                            
 e)             Date of the transaction:                                                                                                                                                                           27 September 2016                                             
 f)             Place of the transaction:                                                                                                                                                                          Johannesburg Stock Exchange                                   

Additional information disclosed in accordance with the JSE Listings
Requirements:

 a)  Nature of interest of executive:                                              Beneficial  
 b)  On-market or off-market:                                                      On-market   
 c)  Clearance given in terms of paragraph 3.66 of the JSE Listings Requirements:  Yes         
 d)  Holding following transactions on 28 September 2016:                          137, 450    

Johannesburg

5 October 2016

CONTACT INFORMATION

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) 207 796 8644

Facsimile: + 44 (0) 207 796 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) 207 796 8644                  
     Office: +44 (0) 20 7260 1000

Sholto
Simpson                                               
     Matthew Armitt / Ross Allister

One
Capital                                          
     Peel Hunt LLP

JSE
Sponsor                                       
     Joint Broker

Office: + 27 (0) 11 550 5009                  
     Office: +44 (0) 207 418 8900

Julian
Gwillim                                         
    Daniel Thöle

Aprio Strategic Communications                  Bell Pottinger
PR

Public & Investor Relations SA                    Public &
Investor Relations UK

Office: +27 (0)11 880 0037                    
    Office: + 44 (0) 203 772 2500

Jeffrey Couch/Neil Haycock/Thomas Rider

BMO Capital Markets Limited

Joint Broker

Office: +44 (0) 207 236 1010

www.panafricanresources.com



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