REG-Pan African Resources Plc: Transaction in Own Shares

Pan African ResourcesAnnouncement

22/04/2022 07:15

Pan African Resources PLC

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

Share code on AIM: PAF

Share code on JSE: PAN

ISIN: GB0004300496

ADR ticker code: PAFRY

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

PAN AFRICAN RESOURCES PLC TRANSACTION IN OWN SHARES

Pan African, the South African gold producer, announces that on 21 April 2022,
in accordance with the terms of its share buyback programme announced on 1
April 2022 (the “Programme”) it purchased the following number of ordinary
shares of £0.01 each in the Company (“Ordinary Shares”) through Peel Hunt
LLP (“Peel Hunt”) and RMB Morgan Stanley (“RMBMS”). The shares
purchased will be cancelled.

 Date of purchases                                                 21 April 2022 
                                                                                 
 Aggregate number of Ordinary Shares purchased                         1,118,107 
                                                                                 
 London Stock Exchange (“LSE”) purchases                                         
 Number of Ordinary Shares purchased on LSE                            1,118,107 
 Lowest price paid per share (pence per share):                           21.850 
 Highest price paid per share (pence per share):                          21.850 
 Volume weighted average price paid per share (pence per share):          21.850 
                                                                                 
 Johannesburg Stock Exchange (“JSE”) purchases                                   
 Number of Ordinary Shares purchased on JSE                                    - 
 Lowest price paid per share (ZAr per share):                                  - 
 Highest price paid per share (ZAr per share):                                 - 
 Volume weighted average price paid per share (ZAr per share):                 - 

Following the purchase, the Company will have 2,230,895,436 Ordinary Shares of
£0.01 each in issue, of which 306,358,058 Ordinary Shares are held in
treasury.

The above figure of 2,230,895,436 may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules.

In accordance with Article 5(1)(b) of the UK version of Regulation (EU) No.
596/2014 which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018, the tables below contain detailed information of the individual
trades made by Peel Hunt as part of the Programme. The same information is
also included for the trades made by RMBMS.

Individual transactions on LSE:

  Number of shares purchased  Transaction price (pence per share)  Time of transaction  Execution venue 
                     689,840                                21.85             14:16:53              LSE 
                     333,217                                21.85             14:42:59              LSE 
                      95,050                                21.85             15:40:06              LSE 
                                                                                                        
                                                                                                        
                                                                                                        
                                                                                                        

Individual transactions on JSE:

  Number of shares purchased  Transaction price (ZAr per share)  Time of transaction  Execution venue 
                           -                                  -                    -                - 

The information contained in this update is the responsibility of the Pan
African board of directors and has not been reviewed or reported on by the
Group’s external auditors.

Rosebank

22 April 2022

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

www.panafricanresources.com

 Corporate information                                                                                                                                                                                                                                                                                    
 Corporate office The Firs Office 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 Suite 31 Second Floor 107 Cheapside London EC2V 6DN United Kingdom Office: + 44 (0) 20 7796 8644  
 Chief executive officer  Cobus Loots Office: + 27 (0) 11 243 2900                                                                                                                    Financial director Deon Louw Office: + 27 (0) 11 243 2900                                                           
 Head: Investor relations  Hethen Hira Tel: + 27 (0)11 243 2900 E-mail: hhira@paf.co.za                                                                                               Website: www.panafricanresources.com                                                                                
 Company secretary Phil Dexter/Jane Kirton  St James's Corporate Services Limited Office: + 44 (0) 20 7796 8644                                                                       Nominated Adviser and Joint Broker Ross Allister/Alexander Allen  Peel Hunt LLP Office: +44 (0) 20 7418 8900        
 JSE Sponsor Ciska Kloppers  Questco Corporate Advisory Proprietary Limited Office: + 27 (0) 11 011 9200                                                                              Joint Broker Thomas Rider/Nick Macann  BMO Capital Markets Limited Office: +44 (0) 20 7236 1010                     



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