PAN AFRICAN RESOURCES PLC - Directors Dealings in Securities

Director’s Dealings in Securities

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” or the “Company”)

DIRECTOR’S DEALINGS IN SECURITIES

DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND
THEIR CLOSELY ASSOCIATED PERSONS

1.     Details of the person discharging
       managerial responsibilities/person
       closely associated

a)     Name:                                       Cobus Loots

2.     Reason for the notification

a)     Position/status:                            Chief Executive Officer

b)     Initial notification/Amendment:             Initial notification

3.     Details of the issuer, emission allowance
       market participant, auction platform,
       auctioneer or auction monitor

a)     Company name:                               Pan African Resources PLC

b)     LEI:                                        213800EAXURCXM6RL85

4.     Details of the transaction(s): section to
       be repeated for (i) each type of
       instrument; (ii) each type of
       transaction; (iii) each date; and (iv)
       each place where transactions have
       been conducted

a)     Description of the financial instrument,     i)    Long contract for difference (CFD)
       type of instrument:                                at 8.25p each

                                                    ii)   Long contract for difference (CFD)
                                                          at 8.5p each

                                                   Identification code: GB0004300496

b)     Nature of the transactions:                 Entered into long contracts for difference
                                                   (CFD)

c)    Price(s) and volume(s):                      Price(s)             Volume(s)

      i) 20 September 2018                         i)   GBP0.0825       64,280
      ii) 21 September 2018                        ii)  GBP0.085        50,000

d)    Aggregated information:                      Total                Volume(s)

                                                   GBP9,553.10          114,280

e)    Date of the transaction:                     i)   20 September 2018
                                                   ii)  21 September 2018

f)    Place of the transaction:                    London Stock Exchange

Additional information disclosed in accordance with the JSE Listings Requirements:

a)     Nature of interest of executive:            Beneficial

b)     On-market or off-market:                    On-market

c)     Clearance given in terms of paragraph 3.66  Yes
       of the JSE Listings Requirements:

d)     Holding following transactions:             668,675

e)     Deemed value:                               GBP9,553.10


Johannesburg
25 September 2018

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) 207 796 8644
                                                   Facsimile: + 44 (0) 207 796 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) 207 796 8644                      Office: +44 (0) 20 7260 1000

Sholto Simpson                                     Ross Allister/ James Bavister / David
One Capital                                        McKeown
JSE Sponsor                                        Peel Hunt LLP
Office: + 27 (0) 11 550 5009                       Joint Broker
                                                   Office: +44 (0) 207 418 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) 207 236 1010

Bobby Morse and Chris Judd                         Website: www.panafricanresources.com
Buchanan
Public & Investor Relations UK
Office: +44 (0)20 7466 5000
paf@buchanan.uk.com

Date: 25/09/2018 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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