Allan Gray reduces stake in Pan African Resources

Allan Gray Proprietary Limited has notified a change in its major holding in Pan African Resources PLC, an acquisition or disposal of voting rights, effective September 15, 2025. The notification was officially made on September 17, 2025.

Following this transaction, Allan Gray's total voting rights in Pan African Resources PLC now stand at 8.998600%, representing 182,430,726 voting rights held in the issuer. This figure reflects a decrease from its previous notification position of 9.979900%. All voting rights are directly attached to shares, with no voting rights held through financial instruments.

Allan Gray Proprietary Limited confirmed it is not controlled by any natural person or legal entity and does not control any other undertakings holding interests in the underlying issuer.