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 |
|