PAN AFRICAN RESOURCES PLC: Acquisition of Evander becomes unconditional
Pan African Resources PLC Harmony Gold Mining Company Limited
(Incorporated and registered in England Registration number 1950/038232/06
and Wales under Companies Act 1985
Incorporated in the Republic of South
with registered number 3937466 on 25 Africa
AIM Code: PAF
NYSE code: HMY
JSE Code: PAN
JSE share code: HAR
PAN AFRICAN'S ACQUISITION OF EVANDER GOLD MINES LIMITED ("EVANDER") FROM
HARMONY ("TRANSACTION") BECOMES UNCONDITIONAL
Pan African and Harmony are pleased to advise their shareholders that the last
remaining condition precedent to the Transaction has been fulfilled following
receipt of the consent required in accordance with section 11 of the Mineral
and Petroleum Resources Development Act, No. 28 of 2002.
Accordingly, the Transaction is now unconditional.
Pan African shall assume effective control over Evander on 28 February 2013.
Jan Nelson, CEO of Pan African said:
"We are delighted to finally take full control of Evander - a world class ore
body and exceptional team of people will ensure that Pan African continues to
deliver profitable, sustainable stakeholder growth. In addition to the 100koz
of annual gold production, Evander also provides Pan African with a project
pipeline that provides for significant growth possibilities and flexibility.
I would like to thank Harmony on behalf of the board of Pan African for the
manner and spirit in which the transaction was concluded. We welcome the
Evander team and look forward to an exciting future."
Graham Briggs, CEO of Harmony said:
"The proceeds from the Evander sale further strengthen Harmony's cash position.
We are leaving Evander in the hands of a capable management team, who we
believe will run the mine in a sustainable manner."
15 February 2013
Lead Corporate Adviser, Transaction Corporate Adviser to Harmony
Sponsor and JSE Sponsor to Pan
African Merrill Lynch South Africa
Joint Corporate Adviser and Sponsor to Harmony
Independent Transaction Sponsor to
Pan African J. P. Morgan Equities South Africa
Legal Counsel to Pan African Legal Counsel to Harmony
Werksmans Inc. Edward Nathan Sonnenbergs Inc.
PAN AFRICAN ENQUIRIES UK
Pan African Resources Canaccord Genuity Limited - Nomad and
Jan Nelson, Chief Executive Officer
Rob Collins / Peter Stewart / Sebastian
+27 (0) 11 243 2900 Jones / Joe Weaving
+44 (0) 20 7523 8350
One Capital finnCap Limited - Joint Broker
Sholto Simpson / Megan Young Elizabeth Johnson / Joanna Weaving
+27 (0) 11 550 5000 +44 (0) 20 7220 0500
Vestor Investor Relations St James's Corporate Services Limited
Louise Brugman Phil Dexter
+27 (0) 11 787 3015 +44 (0) 20 7499 3916
+27 83 504 1186
+44 (0) 20 7193 7463 / +44 (0) 7525 324431
For further information on Pan African, please visit the website at
Investor Relations Officer
+27 (0) 82 759 1775 (mobile)
Marian van der Walt
Executive: Corporate and Investor Relations
+27 (0) 82 888 1242 (mobile)
For further information on Harmony, please visit the website at
-0- Feb/15/2013 08:00 GMT
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