Company Announcements

Pan African Resources Plc - Holding(s) in Company

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”)

 TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB0004300496

Issuer Name

PAN AFRICAN RESOURCES PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

Ninety One SA (Pty) Ltd

City of registered office (if applicable)

Country of registered office (if applicable)

ZA

4. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

City of registered office (if applicable)

Country of registered office (if applicable)

5. Date on which the threshold was crossed or reached

08-Nov-2022

6. Date on which Issuer notified

09-Nov-2022

7. Total positions of person(s) subject to the notification obligation


       .        % of voting     % of voting     Total of both in Total number of
                rights attached rights through  % (8.A + 8.B)    voting rights
                to shares       financial                        held in issuer
                (total of 8.A)  instruments
                                (total of 8.B 1
                                + 8.B 2)

Resulting       4.913200        0.000000        4.913200         94162485
situation on
the date on
which threshold
was crossed or
reached

Position of     5.218600        0.000000        5.218600
previous
notification
(if applicable)



8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares


Class/Type of    Number of direct Number of         % of direct   % of indirect
shares ISIN code voting rights    indirect voting   voting rights voting rights
(if possible)    (DTR5.1)         rights (DTR5.2.1) (DTR5.1)      (DTR5.2.1)

GB0004300496     0                94162485          0.000000      4.913200

Sub Total 8.A    94162485                           4.913200%



8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))


Type of        Expiration Exercise/conversion Number of voting    % of voting
financial      date       period              rights that may be  rights
instrument                                    acquired if the
                                              instrument is
                                              exercised/converted

Sub Total 8.B1



8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))


Type of    Expiration Exercise/conversion Physical or Number of     % of voting
financial  date       period              cash        voting rights rights
instrument                                settlement

Sub Total
8.B2



9. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)


Ultimate     Name of       % of voting     % of voting       Total of both if
controlling  controlled    rights if it    rights through    it equals or is
person       undertaking   equals or is    financial         higher than the
                           higher than the instruments if it notifiable
                           notifiable      equals or is      threshold
                           threshold       higher than the
                                           notifiable
                                           threshold

Ninety One   Ninety One    0.000000        0.000000          0.000000%
Limited      Africa (Pty)
             Limited

Ninety One   Ninety One SA 4.913200        0.000000          4.913200%
Africa (Pty) (Pty) Limited
Limited



10. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

12. Date of Completion

09-Nov-2022

13. Place Of Completion

London

Rosebank

9 November  2022

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

www.panafricanresources.com


Corporate information

Corporate Office                       Registered Office
The Firs Office Building               2nd Floor
2nd Floor, Office 204                  107 Cheapside
Cnr. Cradock and Biermann Avenues      London
Rosebank, Johannesburg                 EC2V 6DN
South AfricaUnited Kingdom
Office: + 27 (0)11 243 2900            Office: + 44 (0)20 7796 8644
info@paf.co.za

Chief Executive Officer                Financial Director
Cobus LootsDeon Louw
Office: + 27 (0)11 243 2900            Office: + 27 (0)11 243 2900

Head: Investor Relations               Website: www.panafricanresources.com
Hethen Hira
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za

Company Secretary                      Nominated Adviser and Joint Broker
Phil Dexter/Jane KirtonRoss Allister/David McKeown
St James's Corporate Services LimitedPeel Hunt LLP
Office: + 44 (0)20 7796 8644           Office: +44 (0)20 7418 8900

JSE Sponsor                            Joint Broker
Ciska KloppersThomas Rider/Nick MacannQuestco Corporate Advisory Proprietary BMO Capital Markets Limited
Limited                                Office: +44 (0)20 7236 1010
Office: + 27 (0)11 011 9200

                                       Joint Broker
                                       Matthew Armitt/Jennifer LeeJoh. Berenberg, Gossler & Co KG
                                       (Berenberg)
                                       Office: +44 (0)20 3207 7800