Pan African Resources acquires Shanduka's share of Barberton Mines
On August 21, 2009, Pan African Resources plc acquired the remaining 26% stake which it did not already own in Barberton Mines Ltd. from Shanduka Gold (Pty) Ltd., Pan African's BEE partner. The transaction entailed Pan African issuing 295,751,549 new ordinary shares to Shanduka, representing 21% of Pan African's enlarged issued share capital.
Nigel Gordon of Fasken Martineau advised Pan African on UK aspects of the transaction.