Pan African Resources Plc - Fulfilment of all Conditions Precent - Phoenix Platinum
07 November 2017 - 6:00PM
PR Newswire (US)
Pan African Resources PLC
(Incorporated and registered in
England and Wales under Companies Act 1985 with registered
number 3937466 on 25 February
2000)
AIM Code: PAF
JSE Code: PAN
ISIN: GB0004300496
(“Pan African”)
FULFILMENT OF ALL CONDITIONS PRECEDENT TO THE SALE OF
PHOENIX PLATINUM MINING
PROPRIETARY LIMITED (“PHOENIX PLATINUM”)
Further to the announcement published on 31 July 2017, Pan African is pleased to announce
that all conditions precedent to the disposal of 100% of the shares
and loan accounts in Phoenix Platinum to Sylvania Platinum Limited
(“Transaction”) have now been fulfilled.
This follows, amongst other conditions, the approval of the
Transaction by the South African Competition Authorities in
accordance with the Competition Act, No. 89 of 1998.
The effective date of the Transaction is 6 November 2017, following the cash settlement of
the Transaction consideration of R89 million or approximately
US$6.3 million.
By order of the Board
Johannesburg
7 November 2017
Contact information |
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
Facsimile: + 27 (0) 11 880 1240
|
Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Office: + 44 (0) 207 796 8644
Facsimile: + 44 (0) 207 796 8645 |
Cobus Loots
Pan African Resources PLC
Chief Executive Officer
Office: + 27 (0) 11 243 2900 |
Deon Louw
Pan African Resources PLC
Financial Director
Office: + 27 (0) 11 243 2900 |
Phil Dexter
St James's Corporate Services Limited
Company Secretary
Office: + 44 (0) 207 796 8644 |
John Prior / Paul Gillam
Numis Securities Limited
Nominated Adviser, Joint Broker
Office: +44 (0) 20 7260 1000 |
Sholto Simpson
One Capital
JSE Sponsor
Office: + 27 (0) 11 550 5009 |
Ross Allister / Chris Burrows
Peel Hunt LLP
Joint Broker
Office: +44 (0) 207 418 8900 |
Jeffrey Couch/Neil Haycock/Thomas Rider
BMO Capital Markets Limited
Joint Broker
Office: +44 (0) 207 236 1010 |
Bobby Morse/Chris Judd
Buchanan Communications
Public & Investor Relations UK
Office: + 44 (0) 207 466 5000 |
Julian Gwillim
Aprio Strategic Communications
Public & Investor Relations SA
Office: +27 (0)11 880 0037
www.panafricanresources.com |
|
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