Pan African Resources PLC Announces Share Buyback and Cancellation

Pan African Resources PLC, a South African gold producer, has announced its share buyback program, which saw the company purchase 420,317 ordinary shares from the London Stock Exchange (LSE) and the Johannesburg Stock Exchange (JSE) on 1 July 2025. The shares, valued at a volume-weighted average price of 46.89 pence per share, will be cancelled and delisted from both exchanges. Following the purchase, the company will have 2,335,254,946 ordinary shares in issue, with 306,358,058 shares held in treasury.

Key Takeaways:

• Pan African Resources PLC has initiated a share buyback program to purchase 420,317 ordinary shares at a volume-weighted average price of 46.89 pence per share.
• The shares will be cancelled and delisted from both the LSE and JSE, following which the company will have 2,335,254,946 ordinary shares in issue.
• 306,358,058 ordinary shares will be held in treasury, as part of the company's share capital.
• The purchase is in line with the Company's commitment to maintaining a strong balance sheet and optimizing its financial structure.
• The company has engaged Peel Hunt LLP as its joint broker to facilitate the share buyback program.
• The transaction is subject to the terms and conditions of the Company's share buyback program announced on 30 June 2025.

Statistics:

• 420,317 ordinary shares were purchased on 1 July 2025 through the LSE.
• The volume-weighted average price paid per share was 46.89 pence.
• The lowest and highest prices paid per share were 46.75 pence and 47.00 pence, respectively.
• The company will have 2,335,254,946 shares in issue, with 306,358,058 shares held in treasury.

Sources:

• Pan African Resources PLC company announcement, dated 2 July 2025.
• Pan African Resources PLC website: www.panafricanresources.com
• UK version of Regulation (EU) No. 596/2014, as part of UK law by virtue of the European Union (Withdrawal) Act 2018.