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Pan African in exclusive talks to buy assets of ASA Resource

ASA Resources appointed joint administrators at the beginning of August
African landscape
The company has entered into exclusive negotiations with the joint administrators with a view to acquiring some of the assets and liabilities of ASA

Pan African Resources PLC (LON:PAF) has advised shareholders to hold fire on dealing in the company’s shares while it contemplates an acquisition.

The company has entered into exclusive negotiations with the joint administrators of ASA Resource Group PLC with a view to acquiring some of the assets and liabilities of ASA.

READ: Pan African Resources on recovery track

Pan African said if the discussions prove fruitful, it could have a material effect on the price of the company’s securities, though it issued the usual caveat about there being no guarantee the acquisition will take place.

Shares in Pan African were down 0.1p at 12.96p in lunch time trading.

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