A secondary placing of Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN) has now been completed, with 58.77 million shares held by Tembo Capital resold by brokers Berenberg and BMO Capital.
The shares were sold at a price of 39p, compared with yesterday’s 42.65p closing price in London.
The shares represented some 2.5% of Pan African’s total share capital.
Pan African Resources was not a party to the placing and will not receive any proceeds from the transaction.