REG-Pan African Resources Plc: Fulfilment of all Conditions Precent - Phoenix Platinum <Origin Href="QuoteRef">PAFR.L</Origin>

Pan African ResourcesAnnouncement

07/11/2017 07:01

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”)

FULFILMENT OF ALL CONDITIONS PRECEDENT TO THE SALE OF PHOENIX PLATINUM MINING
PROPRIETARY LIMITED (“PHOENIX PLATINUM”)

Further to the announcement published on 31 July 2017, Pan African is pleased
to announce that all conditions precedent to the disposal of 100% of the
shares and loan accounts in Phoenix Platinum to Sylvania Platinum Limited
(“Transaction”) have now been fulfilled.

This follows, amongst other conditions, the approval of the Transaction by the
South African Competition Authorities in accordance with the Competition Act,
No. 89 of 1998.

The effective date of the Transaction is 6 November 2017, following the cash
settlement of the Transaction consideration of R89 million or approximately
US$6.3 million.

By order of the Board

Johannesburg

7 November 2017

 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 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 St James's Corporate Services Limited Company Secretary Office: + 44 (0) 207 796 8644                                                                                                   John Prior / Paul Gillam Numis Securities Limited Nominated Adviser, Joint Broker Office: +44 (0) 20 7260 1000                                       
 Sholto Simpson One Capital JSE Sponsor Office: + 27 (0) 11 550 5009                                                                                                                                 Ross Allister / Chris Burrows Peel Hunt LLP Joint Broker Office: +44 (0) 207 418 8900                                                                
 Jeffrey Couch/Neil Haycock/Thomas Rider BMO Capital Markets Limited Joint Broker Office: +44 (0) 207 236 1010                                                                                       Bobby Morse/Chris Judd Buchanan Communications Public & Investor Relations UK Office: + 44 (0) 207 466 5000                                          
 Julian Gwillim Aprio Strategic Communications Public & Investor Relations SA Office: +27 (0)11 880 0037   www.panafricanresources.com                                                                                                                                                                                                                    



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