PAN AFRICAN RESOURCES PLC (PAF)

PAN AFRICAN RESOURCES PLC (PAF)

Blog posts

Portfolio Review 2021 – Mark Bentley

This article reflects the opinions of its author and not necessarily those of ShareSoc. Introduction Following on from my review in 2020, I have now conducted a similar exercise for 2021. See last year's article for an explanation of my investment objectives, strategy, "asset types" and investment accounts. 2021 was "a year of two halves" with my holdings roaring ahead in the first half and then a bit of a rollercoaster ride since September. These market gyrations are difficult psychologically but having lived through ...

South African Politics, Pan African Resources and Mondi

The election of Cyril Ramaphosa as the President of the ANC suggests that the country may be taking a positive step forwards. Under Jacob Zuma South Africa has become riddled with corruption and “state capture” where assets are sold off to favoured parties. Whether Cyril Ramaphosa can become President of the country in due course remains to be seen but it is worth looking at his background. He has a legal qualification and became a trade union activist. After being active in ...

Hornby, BHP Billiton, Pan African, and Share Radio

A few items of miscellaneous news worthy of comment: Investor Alexander Anton has launched a campaign to have Chairman Roger Canham removed from the board of Hornby (HRN) and get himself appointed as director. A requisition for a General Meeting of the company has been submitted accordingly. Hornby, the maker of train sets and toys, has had a poor financial performance in recent years with production difficulties, consistent losses, and a turnaround plan that is not obviously working. Mr Anton was ...

Share issues – And An Interesting Rule

Spring is in the air, and companies are clearly in a mood to raise cash. A lot of these have been share placings but the reasons given have been...

Losses From Withholding Taxes on Dividends

An issue that has come to the notice of ShareSoc is the problem of the Withholding Tax introduced on dividends in South Africa. Even though Pan African Resources Plc (PAF) is registered in the UK, it is dual listed on AIM and the Johannesburg Exchange (JSE). Because of the way South Africa introduced the tax change, any shareholder is going to get 15% deducted before payment (or 10% for UK residents under a dual tax treaty). To get the lower rate, you ...

Pan African Resources AGM Report – a minor victory for shareholders on buy-backs

Pan African Resources is a South African gold mining company, but they are registered in the UK and hence hold their AGMs in London. This year it was at 10.00 am on the 22nd November in the City of London despite shareholders complaining about the 10.00 am start time last year. A full report is here, but here are some of the noteworthy points. Only the Chairman Keith Spencer was present from the directors, and he said the main reason for absence ...

AGM Reports

Pan African Resources (PAF) AGM Report 2015

Yesterday I attended the Annual General Meeting of Pan African Resources Plc at Numis Securities London office in the Stock Exchange Building. Pan African Resources is a mid-tier South African based precious metals business producing approximately 215,000oz of gold per annum with a focus on maintaining and increasing profitable production in the coming years. We started at 2pm with the Chairman Keith Spencer and Non-Exec Hester Hickey in attendance, along with 6 shareholders plus the usual other hangers on. We started by taking ...

Pan African Resources (PAF) AGM Report 2013 – minor victories for shareholders

Pan African Resources is a South African gold mining company, but they are registered in the UK and hence hold their AGMs in London. This year it was at 10.00 am on the 22nd November in the City of London despite shareholders complaining about the 10.00 am start time last year. There were about ten shareholders present, as last year. Only the Chairman Keith Spencer was present from the directors, and he said the main reason for absence was them trying to ...

Pan African Resources (PAF) AGM Report 2012

Pan African Resources (PAF) is a South African based gold-mining company (although registered in England and it produces accounts in pounds sterling). It was covered in the March 2011 ShareSoc Informer Newsletter and a report on the 2011 AGM was also given later in the year. Unlike many gold mining companies, it is more a production than an exploration company, is consistently profitable and has been paying a dividend (but that has been temporarily suspended this year so as to raise ...

Pan African Resources (PAF) AGM Report 2011

Yesterday I attended the Annual General Meeting of Pan African Resources Plc, a gold and platinum mining company based in South Africa. It was profiled in the March 2011 ShareSoc Informer newsletter. Although the company operates primarily in South Africa it is registered and listed in the UK and the AGM was therefore held in London. The Chairman, Cyril Ramaphosa, did not attend so the meeting was chaired, and very effectively, by Deputy Chairman Keith Spencer. Jan Nelson, the Chief Executive, was ...