Pan African Resources Plc - Trading Statement for the year ended 30 June 2024 (Current Reporting Period)
Pan African Resources PLC
(Incorporated and registered in England
and Wales under the Companies Act 1985
with registered number 3937466 on 25 Pan African Resources Funding Company February 2000 ) Limited
Share code on AIM: PAF Incorporated in the Republic of South
Africa with limited liability
Share code on JSE: PAN
Registration number: 2012/021237/06
ISIN: GB0004300496
Alpha code: PARI
ADR ticker code: PAFRY
(‘Pan African’ or the ‘Company’ or the
‘Group’)
(Key features are reported in
TRADING STATEMENT FOR THE YEAR ENDED
This announcement contains inside information
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the current financial year, will differ by at least 20% from those of the year ended
Pan African’s presentation currency is the US$ and its functional currency is the ZAR. Movements in the US$/ZAR exchange rate affect the Group’s US$ reported results. The average US$/ZAR exchange rate, that prevailed during the current financial year, is used in translating the Group’s ZAR financial performance into US$.
During the current financial year, the average US$/ZAR exchange rate was US$/ZAR:18.71 (2023: US$/ZAR:17.77), and the closing US$/ZAR exchange rate as at
The year-on-year change in the average and closing exchange rates of 5.3% and 3.4%, respectively, must be considered when comparing period-on-period results. The weighted average number of outstanding shares as at
Pan African advises shareholders that its headline earnings per share (HEPS) for the current financial year are expected to be between US
The increases in HEPS and EPS for the current reporting period, relative to the previous reporting period, are mainly as a result of the following primary factors:
-- Revenue increased by 16.8%, mainly due to the increase in gold sold of
4.9% combined with an increase in the average US$ gold price of 11.3%
The financial information contained in this announcement has neither been reviewed nor audited by the Company’s auditors. The Group’s results for the year ended
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
Rosebank
For further information on Pan African, please visit the Company's website at
___________________________________________________________________________ |Corporate information | |___________________________________________________________________________| |Corporate Office |Registered Office | | | | |The Firs Building |2nd Floor | | | | |2nd Floor, Office 204 |107 Cheapside | | | | |Cnr. Cradock and Biermann Avenues |London | | | | |Rosebank, Johannesburg |EC2V 6DN | | | | |South Africa |United Kingdom | | | | |Office: + 27 (0)11 243 2900 |Office: + 44 (0)20 3869 0706 | | | | |info@paf.co.za|info@paf.co.za | |______________________________________|____________________________________| |Chief Executive Officer |Financial Director | | | | |Cobus Loots |Deon Louw | | | | |Office: + 27 (0)11 243 2900 |Office: + 27 (0)11 243 2900 | |______________________________________|____________________________________| |Head: Investor Relations | | | | | |Hethen Hira |Website: www.panafricanresources.com| |Tel: + 27 (0)11 243 2900 | | |E-mail: hhira@paf.co.za | | |______________________________________|____________________________________| |Company Secretary |Nominated Adviser and Joint Broker | | | | |Jane Kirton |Ross Allister/Georgia Langoulant | | | | |St James's Corporate Services Limited |Peel Hunt LLP | | | | |Office: + 44 (0)20 3869 0706 |Office: +44 (0)20 7418 8900 | |______________________________________|____________________________________| |JSE Sponsor |Joint Broker | | | | |Ciska Kloppers |Thomas Rider/Nick Macann | | | | |Questco 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 Lee | | | | | |Joh. Berenberg, Gossler & Co KG | | |(Berenberg) | | | | | |Office: +44 (0)20 3207 7800 | |______________________________________|____________________________________|
