Pan African Resources Plc - Listing of new Sustainability-Linked Instrument, Notificiation of Additional Guarantors and Notification of a Partial Capital Redemption
Pan African Resources PLC
(Incorporated and registered in England Pan African Resources Funding Company
and Wales under the Companies Act 1985 Limited
with registered number 3937466 on 25
February 2000 ) Incorporated in the Republic of South
Africa with limited liability
Share code on AIM: PAF
Registration number: 2012/021237/06
Share code on JSE: PAN
Alpha code: PARI
ISIN: GB0004300496
("PAR Funding Company " or the "Debt
ADR ticker code: PAFRY Issuer")
("Pan African" or the "Company" or the
"Group")
LISTING OF NEW SUSTAINABILITY-LINKED INSTRUMENT, NOTIFICATION OF ADDITIONAL GUARANTORS AND NOTIFICATION OF A PARTIAL CAPITAL REDEMPTION
Issue and listing of PARS03
PAR
The JSE Limited has granted approval for the listing of the PARS03 Notes under
______________________________________________________________________________ |Debt security code: |PARS03 | |____________________________________|_________________________________________| |ISIN: |ZAG000209834 | |____________________________________|_________________________________________| |Type of debt security: |Senior Second Ranking Secured | |____________________________________|_________________________________________| |Listing: |Sustainability segment of the JSE | |____________________________________|_________________________________________| | |Pan African Resources Plc; | | | | | |Evander Gold Mining Proprietary Limited; | | | | | |Barberton Mines Proprietary Limited; | | | | | |Evander Gold Mines Proprietary Limited; | | | | | |Pan African Resources SA Holdings | | |Proprietary Limited; | |Guarantors: | | | |Evander Solar Solutions Proprietary | | |Limited; | | | | | |Mogale Tailings Retreatment Proprietary | | |Limited; | | | | | |Mogale Gold Proprietary Limited; and | | | | | |Mintails SA Soweto Cluster Proprietary | | |Limited | |____________________________________|_________________________________________| |Issue date: |22 October 2024 | |____________________________________|_________________________________________| |Issue price: |100% | |____________________________________|_________________________________________| |Nominal amount per note: |ZAR1,000,000 | |____________________________________|_________________________________________| |Aggregate nominal amount: |ZAR840,000,000 | |____________________________________|_________________________________________| | |3 Month ZAR-JIBAR, or in the event that | | |the ZAR-JIBAR- ceases to apply, such | |Reference rate: |other rate as may be determined by the | | |Calculation Agent and notified to the | | |Noteholders pursuant to Condition 21 | | |(Notices) | |____________________________________|_________________________________________| |Margin: |305 basis points to be added to the | | |Reference Rate | |____________________________________|_________________________________________| |Interest commencement date: |22 October 2024 | |____________________________________|_________________________________________| |Interest payment basis: |Floating Rate | |____________________________________|_________________________________________| | |22 December, 22 March, 22 June and 22 | | |September (or the first Business Day of | |Interest rate determination date(s):|each Interest Period) of each year until | | |the Maturity Date, with the first | | |Interest Rate Determination Date being 17| | |October 2024 | |____________________________________|_________________________________________| | |22 December 2024, or, if such day is not | | |a Business Day, the Business Day on which| |First interest payment date: |interest will be paid, as determined in | | |accordance with the Applicable Business | | |Day Convention | |____________________________________|_________________________________________| | |22 December, 22 March, 22 June and 22 | | |September, of each year until the | | |Maturity Date or, if such day is not a | |Interest payment dates: |Business Day, the Business Day on which | | |interest will be paid, as determined in | | |accordance with the Applicable Business | | |Day Convention | |____________________________________|_________________________________________| | |By 17h00 on 16 December, 16 March, 16 | | |June and 16 September of each year until | |Last day to register: |the Maturity Date, or if such day is not | | |a Business Day, the Business Day before | | |each Books Closed Period | |____________________________________|_________________________________________| | |The Register will be closed from 17 | | |December to 21 December, 17 March to 21 | | |March, 17 June to 21 June and 17 | |Books close: |September to 21 September and of each | | |year until the Maturity Date (all dates | | |inclusive), or if any early redemption | | |occurs, 5 Days prior to the actual | | |Redemption Date | |____________________________________|_________________________________________| |Business day convention: |Following Business Day | |____________________________________|_________________________________________| |Maturity date: |22 March 2028 | |____________________________________|_________________________________________| | |25% on 22 March 2026; | |Instalment Amounts (expressed as a | | |percentage of the aggregate Nominal |25% on 22 March 2027; and | |Amount of the Notes): | | | |50% on 22 March 2028 | |____________________________________|_________________________________________| | |Please refer to Appendix 1 of the | |Summary of additional terms: |Applicable Pricing Supplement relating to| | |Sustainability-Linked Bonds | |____________________________________|_________________________________________| |Total Programme amount authorised: |ZAR5,000,000,000 | |____________________________________|_________________________________________| |Dealer: |Rand Merchant Bank, a division of | | |FirstRand Bank Limited | |____________________________________|_________________________________________|
A copy of the applicable pricing supplement can be downloaded from the Pan African website at https://www.panafricanresources.com/investors/domestic-medium-term-note-programme/ .
The sustainability-linked framework and second party opinion have been updated to reflect the 2024 amendments to the sustainability-linked bond principles. Copies of the updated sustainability-linked framework and second party opinion can be downloaded from the Pan African website at https://www.panafricanresources.com/investors/sustainability-linked-finance-framework/
Notification of Additional Guarantors
Using the terms defined in the DMTN, Noteholders and investors are hereby notified in accordance with Condition 21 of the DMTN ( Notices ) that the following members of the Group have acceded to and have become Additional Guarantors to the Guarantee provided by the Guarantors under the DMTN in accordance with Condition 9.5 of the DMTN ( Additional Guarantors ):
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______________________________________________________________________________ | |Mintails SA |Mogale Gold |Mogale Tailings |Evander Solar | |Full name: |Soweto Cluster|Proprietary |Retreatment |Solutions | | |Proprietary |Limited |Proprietary |Proprietary | | |Limited | |Limited |Limited | |_____________|______________|_______________|________________|________________| |Registration |2003/011659/07|1996/010274/07 |2022/508458/07 |2019/586862/07 | |number: | | | | | |_____________|______________|_______________|________________|________________| | |The Firs, 2nd |The Firs, 2nd |The Firs, 2nd |The Firs, 2nd | | |Floor, Office |Floor, Office |Floor, Office |Floor, Office | | |2024, Cnr |2024, Cnr |2024, Cnr |2024, Cnr | | |Biermann and |Biermann and |Biermann and |Biermann and | |Registered |Cradock |Cradock |Cradock Avenues,|Cradock Avenues,| |address: |Avenues, |Avenues, |Rosebank, |Rosebank, | | |Rosebank, |Rosebank, |Johannesburg, |Johannesburg, | | |Johannesburg, |Johannesburg, |Gauteng South |Gauteng South | | |Gauteng South |Gauteng South |Africa, 2196 |Africa, 2196 | | |Africa, 2196 |Africa, 2196 | | | |_____________|______________|_______________|________________|________________| | | | | |A solar | | | | | |photovoltaic | | | | | |renewable energy| | | | | |plant located in| | | | | |Evander and the | | | | | |planned | | |Gold |Gold |Gold reclamation|development of a| |General |reclamation |reclamation |from sand and |solar PV | |business: |from sand and |from sand and |slime surface |renewable energy| | |slime surface |slime surface |tailings dumps. |plant at | | |tailings dumps|tailings dumps.| |Barberton Mines | | | | | |and the | | | | | |extension of | | | | | |Evander Mines' | | | | | |solar PV | | | | | |renewable energy| | | | | |plant. | |_____________|______________|_______________|________________|________________| | |Jacob Johannes|Jacob Johannes |Marileen Kok | | | |Moolman |Moolman | | | | | | |Jacobus Albertus| | | |Craig Richard |Craig Richard |Johannes Loots |Marileen Kok | |Full names of|Le Court De |Le Court De | | | |directors: |Billot |Billot |Orhovelani Oriel|Jacobus Albertus| | | | |Shikwambana |Johannes Loots | | |Orhovelani |Orhovelani | | | | |Oriel |Oriel |Itumeleng Annah | | | |Shikwambana |Shikwambana |Phoshoko | | |_____________|______________|_______________|________________|________________|
Investors are further advised that
Notification of a Partial Capital Redemption (PARS01)
The Issuer wishes to advise Noteholders of the partial capital redemption of its PARS01 Notes effective on
The partial capital redemption is due to the relevant PARS01 Noteholders electing to exchange their PARS01 Notes for PARS03 Notes.
________________________________________________ |Debt security code: |PARS01 | |________________________________|_______________| |ISIN: |ZAG000192758 | |________________________________|_______________| |Nominal amount before reduction:|R585 000 000 | |________________________________|_______________| |Reduction in nominal amount: |R437 876 000 | |________________________________|_______________| |Nominal amount after reduction: |R147 124 000 | |________________________________|_______________| |Exchange price: |101.158978 | |________________________________|_______________| |Record date: |21 October 2024| |________________________________|_______________|
Rosebank
Debt Sponsor
Paying Agent, Issuer Agent, Transfer Agent and Settlement Agent
