Pan African Resources for 2006 (PAF) Moderated

Not fully digested info yet,but seems a lot of bloody shares flying about
But at least they are going to hold for 1yr.



Metorex intends to hold the Pan African shares as an investment, conditional on
approval from the SARB and will comply with all conditions imposed on it by the
SARB, if any. Should Metorex receive approval to hold the Pan African shares, it
has undertaken not dispose of any of its Pan African shareholding for a period
of 12 months from the date of issue other than by way of distribution in specie.
Pan African has the right to place such shares if required. Metorex will be
allowed to appoint at least 2 directors to the board of Pan African for as long
as they remain a direct shareholder in the Company. Pan African will have the
right to appoint 3 directors onto the board of Barberton Mines, which will have
a total of 5 directors.