Update on acquisition of Emmerson Resources and Australian Stock Exchange (ASX) listing
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 LSE: PAF
Share code on JSE: PAN
ISIN: GB0004300496
ADR ticker code: PAFRY
(`Pan African' or the `Group' or the `Company')
Pan African Resources Funding Company Limited
Incorporated in the Republic of South Africa with limited liability
Registration number: 2012/021237/06
Alpha code: PARI
UPDATE ON ACQUISITION OF EMMERSON RESOURCES AND AUSTRALIAN STOCK EXCHANGE (ASX) LISTING
Unless otherwise defined herein, capitalised words and terms contained in this announcement shall bear the same meanings ascribed thereto in the announcement published by Pan African on 9
March 2026.
Pan African is pleased to provide shareholders with an update regarding the acquisition of Emmerson Resources Limited (Emmerson) (via its wholly owned subsidiary Tennant Consolidated Mining Group Pty Ltd), and the ASX listing. This follows the announcements published by the Group on 9 March 2026, 8 May 2026 and 11 June 2026 relating to the proposed acquisition of 100% of the issued shares in Emmerson by way of an Australian Court approved scheme of arrangement (Scheme) in accordance with Part 5.1 of the
Corporations Act 2001
(Cth) (Corporations Act).
The Scheme Resolution, as required in accordance with the Corporations Act to approve the Scheme, was passed by the requisite majorities of Emmerson shareholders on 15 June 2026. Subsequent to the Emmerson shareholders approving the Scheme Resolution, the Supreme Court of Western Australia (Court) made orders approving the Scheme at the second court hearing held on 19 June 2026. A copy of the Court's orders has been lodged by Emmerson with the Australian Securities and Investments Commission earlier today, with the Scheme now being wholly unconditional and legally effective.
Furthermore, Pan African has been admitted to the official list of the ASX as a foreign exempt listing today and granted official quotation for the PAR CDIs under the ASX code "PAF", with quotation of the PAR CDIs to commence on 23 June 2026 (on a deferred settlement basis), with normal settlement trading commencing from 2 July 2026, following the issue of the PAR CDIs as settlement of the Scheme Consideration. As part of the ASX listing process, a pre-quotation statement and related documents including a copy of the Scheme Booklet,
will be released on the ASX platform today and can be accessed under Pan African's profile using the "PAF" share code through the following link https://www.asx.com.au/markets/trade-our-cash-market/historical-announcements.
The Scheme which is now legally effective will be implemented in accordance with the following indicative timetable:
Event
Indicative dates*
Effective date
Monday, 22 June 2026
Admission to ASX and trading to commence on a deferred basis
Tuesday, 23 June 2026
Scheme record date
Wednesday, 24 June 2026
Implementation date
Wednesday, 1 July 2026
Trading to commence on a normal settlement basis on ASX
Thursday, 2 July 2026
Pan African's shares will continue to trade, as a dual primary issuer, on the London Stock Exchange and Johannesburg Stock Exchange following the ASX listing.
Johannesburg
22 June 2026
For further information on Pan African, please visit the Company's website at
Corporate information
Corporate office
The Firs Building
2nd Floor, Office 204
Corner Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office: + 27 (0)11 243 2900
Registered office
107 Cheapside, 2
nd
Floor
London, EC2V 6DN
United Kingdom
Office: + 44 (0)20 3869 0706
Chief executive Officer
Cobus Loots
Office: + 27 (0)11 243 2900
Financial director and debt officer
Marileen Kok
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
Jane Kirton
St James's Corporate Services Limited
Office: + 44 (0)20 3869 0706
Joint broker
Ross Allister/Georgia Langoulant
Peel Hunt LLP
Office: +44 (0)20 7418 8900
JSE sponsor and JSE debt sponsor
Ciska Kloppers
Questco Corporate Advisory Proprietary Limited
Office: + 27 (0) 63 482 3802
Joint broker
Thomas Rider/Nick Macann
BMO Capital Markets Limited
Office: +44 (0)20 7236 1010
Joint broker
Matthew Armitt/Jennifer Lee
Joh. Berenberg, Gossler & Co KG (Berenberg)
Office: +44 (0)20 3207 7800
Recent news on Pan African Resources
See all newsIssue of new ordinary shares pursuant to the implementation of the Emmerson Acquisition and Total Voting Rights
Director/PDMR Shareholding
Update on acquisition of Emmerson Resources and Australian Stock Exchange (ASX) listing
Brief: Pan African Resources To Maintain Dual Primary Listing On LSE & JSE
Director/PDMR Shareholding