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 CompanyFebruary 2000)                          Limited

Share code on LSE: 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 `Group' or the
`Company')

 

UPDATE ON ACQUISITION OF EMMERSON RESOURCES AND AUSTRALIAN STOCK EXCHANGE (ASX) LISTING

 

Unless otherwise defined herein, capitalised words and terms contained in this announcement shall bear the same meanings ascribed thereto in the announcement published by Pan African on 9   March 2026.

 

Pan African is pleased to provide shareholders with an update regarding the acquisition of Emmerson Resources Limited (Emmerson) (via its wholly owned subsidiary Tennant Consolidated Mining Group Pty Ltd), and the ASX listing. This follows the announcements published by the Group on 9 March 2026, 8 May 2026 and 11 June 2026 relating to the proposed acquisition of 100% of the issued shares in Emmerson by way of an Australian Court approved scheme of arrangement (Scheme) in accordance with Part 5.1 of the Corporations Act 2001 (Cth) (Corporations Act).

 

The Scheme Resolution, as required in accordance with the Corporations Act to approve the Scheme, was passed by the requisite majorities of Emmerson shareholders on 15 June 2026. Subsequent to the Emmerson shareholders approving the Scheme Resolution, the Supreme Court of Western Australia (Court) made orders approving the Scheme at the second court hearing held on 19 June 2026. A copy of the Court's orders has been lodged by Emmerson with the Australian Securities and Investments Commission earlier today, with the Scheme now being wholly unconditional and legally effective.

 

Furthermore, Pan African has been admitted to the official list of the ASX as a foreign exempt listing today and granted official quotation for the PAR CDIs under the ASX code "PAF", with quotation of the PAR CDIs to commence on 23 June 2026 (on a deferred settlement basis), with normal settlement trading commencing from 2 July 2026, following the issue of the PAR CDIs as settlement of the Scheme Consideration. As part of the ASX listing process, a pre-quotation statement and related documents including a copy of the Scheme Booklet, will be released on the ASX platform today and can be accessed under Pan African's profile using the "PAF" share code through the following link https://www.asx.com.au/markets/trade-our-cash-market/historical-announcements.

 

The Scheme which is now legally effective will be implemented in accordance with the following indicative timetable:

 

 ______________________________________________________________________________
| Event                                                | Indicative dates*     |
|______________________________________________________|_______________________|
|Effective date                                        |Monday, 22 June 2026   |
|______________________________________________________|_______________________|
|Admission to ASX and trading to commence on a deferred|Tuesday, 23 June 2026  |
|basis                                                 |                       |
|______________________________________________________|_______________________|
|Scheme record date                                    |Wednesday, 24 June 2026|
|______________________________________________________|_______________________|
|Implementation date                                   |Wednesday, 1 July 2026 |
|______________________________________________________|_______________________|
|Trading to commence on a normal settlement basis on   |Thursday, 2 July 2026  |
|ASX                                                   |                       |
|______________________________________________________|_______________________|

 

Pan African's shares will continue to trade, as a dual primary issuer, on the London Stock Exchange and Johannesburg Stock Exchange following the ASX listing.

 

 

 

Johannesburg

 

22 June 2026

 

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

www.panafricanresources.com

 Corporate information

 Corporate office

The Firs Building                        Registered office

2nd Floor, Office 204                   107 Cheapside, 2 nd  Floor

Corner Cradock and Biermann Avenues     London, EC2V 6DN

Rosebank, Johannesburg                  United Kingdom

South Africa                            Office: + 44 (0)20 3869 0706

Office: + 27 (0)11 243 2900                 jane.kirton@corpserv.co.ukinfo@paf.co.za

 Chief executive Officer                 Financial director and debt officer

Cobus Loots                             Marileen Kok

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                       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 and JSE debt 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) 63 482 3802

                                         Joint broker

                                        Matthew Armitt/Jennifer Lee

                                         Joh. Berenberg, Gossler & Co KG
                                        (Berenberg)

                                        Office: +44 (0)20 3207 7800