Major Shareholders

Pan African Resources Capital Structure as at 28 April 2017:

Shares in issue
2,234,687,537
Percentage of AIM Securities not in public hands38.23%

Major Shareholder Information:

Shareholder
Shares
%ISC
Shanduka Gold436,358,05819.53
Allan Gray Investment Management414,276,92918.54
Truffle Asset Management108,121,9744.84
Kagiso Asset Management94,924,5734.25
Investec Asset Management91,298,244
4.09
Prudential Investment Managers67,808,718
3.03