REG-Pan African Resources Plc: Result of AGM & Salient Dividend Dates <Origin Href="QuoteRef">PAFR.L</Origin>

Pan African ResourcesAnnouncement

22/11/2017 07:05

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” or the “Company” or the “Group”)

RESULTS OF ANNUAL GENERAL MEETING AND SALIENT DIVIDEND DATES

RESULTS OF ANNUAL GENERAL MEETING

Pan African shareholders (“Shareholders”) are advised that at the annual
general meeting (“AGM”) of Shareholders held on Tuesday, 21 November 2017,
all the ordinary and special resolutions, save for special resolution number
12, as set out in the notice of AGM dated 20 September 2017, were approved by
the requisite majority of shareholders present or represented by proxy.

The total number of Pan African ordinary shares (“Shares”) eligible to
vote at the AGM is 2,234,687,537.

All resolutions proposed at the AGM, together with the percentage of shares
abstained, as well as the percentage of votes carried for and against each
resolution, are as follows:

Ordinary resolution number 1: To receive and adopt the directors’ report,
the audited statement of accounts and the auditors’ report for the year
ended 30 June 2017

 Shares Voted  1,732,569,582 77.53%  Abstained  271,339 0.01%  For   100%  Against   0.00%  

Ordinary resolution number 2: To approve the payment of a final dividend for
the year ended 30 June 2017*

 Shares Voted  1,732,569,582 77.53%  Abstained  271,339 0.01%  For   99.99%  Against   0.01%  

*Shareholders are referred to the salient dates and conversion rate details of
the final dividend below.

Ordinary resolution number 3: To re-elect Mr RM Smith as a director of the
Company

 Shares Voted  1,709,749,337 76.51%  Abstained  23,091,584 1.03%  For   96.92%  Against   3.08%  

Ordinary resolution number 4: To re-elect Mr KC Spencer as a director of the
Company

 Shares Voted  1,709,749,337 76.51%  Abstained  23,091,584 1.03%  For   98.91%  Against   1.09%  

Ordinary resolution number 5: To re-elect Mrs HH Hickey as a member of the
audit committee

 Shares Voted  1,610,557,753 72.07%  Abstained  122,283,168 5.47%  For   98.29%  Against   1.71%  

Ordinary resolution number 6: To re-elect Mr KC Spencer as a member of the
audit committee

 Shares Voted  1,709,768,961 76.51%  Abstained  23,071,960 1.03%  For   77.59%  Against   22.41%  

Ordinary resolution number 7: To re-elect Mr TF Mosololi as a member of the
audit committee

 Shares Voted  1,709,743,259 76.51%  Abstained  23,097,662 1.03%  For   94.14%  Against   5.86%  

Ordinary resolution number 8: To endorse the Company’s remuneration policy

 Shares Voted  1,698,261,810 76.00%  Abstained  34,579,111 1.55%  For   80.99%  Against   19.01%  

Ordinary resolution number 9: To endorse the Company’s remuneration
implementation report

 Shares Voted  1,698,218,227 75.99%  Abstained  34,622,694 1.55%  For   82.70%  Against   17.30%  

Ordinary resolution number 10: To re-appoint Deloitte LLP as auditors of the
Company and to authorise the directors to determine their remuneration

 Shares Voted  1,732,569,813 77.53%  Abstained  271,108 0.01%  For   99.76%  Against   0.24%  

Ordinary resolution number 11: To authorise the directors to allot equity
securities

 Shares Voted  1,732,477,132 77.53%  Abstained  363,789 0.02%  For   57.05%  Against   42.95%  

Special resolution number 12: To approve the disapplication of pre-emption
rights

 Shares Voted  1,709,537,603 76.50%  Abstained  23,303,318 1.04%  For   57.67%  Against   42.33%  

Special resolution number 13: To approve market purchases of ordinary shares

 Shares Voted  1,732,570,213 77.53%  Abstained  270,708 0.01%  For   94.03%  Against   5.97%  

Notes
* Percentages of Shares voted are calculated in relation to the total issued
ordinary share capital of Pan African.
* Percentages of Shares voted for and against each resolution are calculated
in relation to the total number of Shares voted in respect of each resolution.
* Abstentions are calculated as a percentage in relation to the total issued
ordinary share capital of Pan African.
SALIENT DIVIDEND DATES

Shareholders are referred to the Group’s results that were released on
20 September 2017, wherein an exchange rate of South African Rand
(“ZAR”) to the British Pound (“GBP”) of ZAR/GBP: 17.00:1 was used for
illustrative purposes to convert the proposed ZAR dividend of ZAR0.08279 per
share into GBP.

Shareholders are advised that, following the approval of the final dividend at
the AGM, the exchange rate for conversion of the final dividend into GBP is a
fixed exchange rate of ZAR/GBP: 18.51:1 which translates to a final GBP
dividend of 0.44727 pence per share. The dividend will be distributed from
income reserves.

The following salient dates apply:

 Currency conversion date             Tuesday, 21 November 2017   
 Last date to trade on the exchanges  Tuesday, 5 December 2017    
 Ex-dividend date on the JSE          Wednesday, 6 December 2017  
 Ex-dividend date on the LSE          Thursday, 7 December 2017   
 Record date                          Friday, 8 December 2017     
 Payment date                         Thursday, 21 December 2017  

Notes
* No transfers between the Johannesburg and London registers between the
commencement of trading on Monday, 4 December 2017 and close of business on
Friday, 8 December 2017 will be permitted.
* No Shares may be dematerialised or rematerialised between Wednesday, 6
December 2017 and Friday, 8 December 2017, both days inclusive.
The final dividend per share was calculated on 2,234,687,537 total shares in
issue equating to ZAR0.08279 per share or 0.44727 pence per share.

The South African dividends tax rate is 20% per share and therefore
Shareholders who are liable to pay dividends tax will receive a net dividend
of ZAR0.06623 per Share (0.35782 pence per Share). Non-South African tax
resident investors may qualify for a lower dividend tax rate, subject to
completing a dividend tax declaration form which is available from
Computershare Investor Services Proprietary Limited or Link Asset Services who
manage the SA and UK register, respectively. The Company's South African
income tax reference number is 9154588173.

Johannesburg

22 November 2017

CONTACT INFORMATION

 Corporate Office                       Registered Office                            
 The Firs Office Building               Suite 31                                     
 1st Floor, Office 101                  Second Floor                                 
 Cnr. Cradock and Biermann Avenues      107 Cheapside                                
 Rosebank, Johannesburg                 London                                       
 South Africa                           EC2V 6DN                                     
 Office: + 27 (0) 11 243 2900           United Kingdom                               
 Facsimile: + 27 (0) 11 880 1240        Office: + 44 (0) 20 7796 8644                
 www.panafricanresources.com            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                                                        



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