Pan African Resources Plc - Registration of Capital Reduction and Effective Date

PR Newswire

LONDON, United Kingdom, July 19

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 Funding Company Limited

Incorporated in the Republic of South Africa with limited liability

Registration number: 2012/021237/06

Alpha code: PARI

 

REGISTRATION OF CAPITAL REDUCTION AND EFFECTIVE DATE

The Company is pleased to announce that, further to the announcement on 10 June 2024, confirming the passing of the resolution at the general meeting of the Company to approve the cancellation of the Company’s share premium account (the “Capital Reduction Resolution”), the reduction of capital (“Capital Reduction”) has now become effective.

 

Following the passing of this resolution, formal approval by the High Court of Justice (the "Court") of the Capital Reduction was granted on 2 July 2024. The Court order confirming the Capital Reduction and statement of capital approved by the Court, was registered with the Registrar of Companies on 18 July 2024, and therefore the Capital Reduction became effective on this date.  

 

Details of the Capital Reduction, the purpose of which was to create distributable reserves and to enable the Company to address certain historic dividends issues, were more particularly set out in the Company's notice of general meeting, published by the Company on 24 May 2024, a copy of which is available on the Company’s website.

 

Following the Capital Reduction, the Company’s net asset value and  number of ordinary shares of 2,222,862,046 in issue (including 306,358,058 shares held in treasury) remains unchanged.

 

Rosebank

19 July 2024

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

www.panafricanresources.com

Corporate information

Corporate office

The Firs Building

2nd Floor, Office 204

Cnr. Cradock and Biermann Avenues

Rosebank, Johannesburg

South Africa

Office: + 27 (0)11 243 2900

info@paf.co.za

Registered office

2nd Floor

107 Cheapside

London

EC2V 6DN

United Kingdom

Office: + 44 (0)20 3869 0706

info@paf.co.za

Chief executive officer 

Cobus Loots     

Office: + 27 (0)11 243 2900                                          

Financial director and debt officer

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

Jane Kirton

St James's Corporate Services Limited

Office: + 44 (0)20 3869 0706

Nominated adviser and 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)11 011 9200

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

Office: +44 (0)20 3207 7800

 


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