Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Pan African Resources restructures black economic empowerment arrangements

The company has extended the group's BEE arrangements by three years
Mining truck
The new arrangement runs to 2021

Pan African Resources plc (LON:PAF) has updated investors as it is restructuring its black economic empowerment arrangements.

It is replacing current BEE equity shareholdings in PAR Gold Proprietary Limited with holdings in Emerald Panther Investments 91 Proprietary Limited. Pan African mining interests are to be held via the SA Holdco vehicle.

READ: Pan African Resources on recovery track

The prior ownership structure terminates in December 2018 while the new arrangements would run to December 2021, marking a three-year extension.

Pan African highlighted that the transaction provides flexibility to further restructure the BEE ownership of the South African operations, depending on the outcome of the proposed third South African Mining charter and other regulations.

READ: Pan African higher after concluding Barberton Mines wage agreement

It also noted that the new arrangements will avoid BEE ownership dilution should PAF raise additional capital. It will also avoid dilution of group earnings.

View full PAF profile View Profile

Pan African Resources plc Timeline

Related Articles

Tomingley gold open pit operation
March 26 2018
The Dubbo Project hosts zirconium, hafnium, niobium, tantalum, yttrium and rare earth elements.
Gold bullion
March 11 2018
An expanded prefeasibility study has confirmed the potential to generate annual production of 200,000 ounces at Matilda-Wiluna.
1522151008_gold_bars,_sized.png
March 27 2018
Orsu Metals looks set for a transformative year, with a sizeable gold resource expected in an already prolific area

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use