REG-Pan African Resources PLC: Response to IFM announcement re business rescue <Origin Href="QuoteRef">PAFR.L</Origin> <Origin Href="QuoteRef">PANJ.J</Origin>

Pan African ResourcesAnnouncement

27/08/2015 08:40

Pan African Resources PLC                           
                                ("Pan African")                                
(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                               

27 August 2015

RESPONSE TO INTERNATIONAL FERRO METALS LIMITED ANNOUNCEMENT REGARDING BUSINESS 
                                    RESCUE                                     

Pan African shareholders are referred to the regulatory announcement published
on 26 August 2015 by International Ferro Metals Limited ("IFL"), whereby IFL
announced that as a result of deteriorating business conditions, its South
African subsidiary, International Ferro Metals (SA) Pty Limited ("IFMSA"), has
entered into Business Rescue.  Business Rescue is a statutory means of enabling
a financially distressed company to continue business, under the supervision of
a Business Rescue Practitioner, protected from its creditors.

Pan African's wholly-owned subsidiary, Phoenix Platinum Mining (Proprietary)
Limited ("Phoenix"), is situated on the IFMSA property, and a portion of the
feedstock for the Phoenix operation (currently approximately 20%) is obtained
from tailings arising from IFMSA's current processing activities. Phoenix is
not solely reliant on material from IFMSA, and has alternative sources of
feedstock.

Phoenix also sources electricity, water and certain other services from IFMSA.

At this stage, Phoenix is not in a position to fully assess the impact of the
Business Rescue proceedings referred to above on Phoenix's operations. Phoenix
and Pan African will work closely with the IFMSA Business Rescue Practitioner
to ensure that the operations and interests of Phoenix are safeguarded, which
includes the services currently provided by IFMSA.  All stakeholders will be
kept informed as these discussions progress.

For the half year ended December 2014, Phoenix contributed approximately 7% to
Pan African's profit after tax.

For further information on Pan African Resources plc, please visit the
Company's website at http://www.panafricanresources.com/

Contact Details

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
Facsmile: + 27 (0) 11 880 1240

Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Office:   + 44 (0) 207 796 8644
Facsmile: + 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/ James Black       
                                                                                       
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)207 260 1000               

   

Nigel Gordon                                 Sholto Simpson                            
                                                                                       
Fasken Martineau LLP                         One Capital                               
                                                                                       
Solicitors in the UK                         JSE Sponsor                               
                                                                                       
Office: +44 (0)207 917 8500                  Office: + 27 (0)11 550 5009               

   

Julian Gwillim                               Daniel Thole                              
                                                                                       
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             

Matthew Armitt / Ross Allister
Peel Hunt LLP
Joint Broker
Office: +44 (0)020 7418 8900

www.panafricanresources.com



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