Druces advises Pan African on transfer

In a significant development, Druces LLP, a prominent City of London law firm, has successfully advised Pan African Resources PLC on its transfer from the AIM to the Main Market of the London Stock Exchange. This landmark move marks a major milestone for Pan African Resources, a mid-tier gold producer with a market capitalisation of approximately £1.8 billion and operations spanning South Africa and Australia. The company is well-regarded for its commitment to strong environmental, social, and governance (ESG) practices and sustainable gold production. The transfer to the Main Market stands as a testament to its sustained growth, operational excellence, and the continued confidence investors have in its strategic vision. The company is also publicly listed on the Johannesburg Stock Exchange under the symbol JSE:PAN.

Nigel Gordon, a Partner in Druces’ Corporate team, spearheaded the transaction, with the support of senior associate Mark Lamph and other colleagues from across the firm. “We are delighted to have supported Pan African Resources in achieving this important milestone. The transfer to the Main Market reflects the company’s growth trajectory and the continued investor confidence in its strategy,” highlighted Gordon.

Cobus Loots, Chief Executive Officer of Pan African Resources PLC, commented, “This move represents an exciting next phase in our journey. The Main Market listing underlines the maturity of our business and enhances our visibility to a wider investor base. We appreciated Druces’ pragmatic and commercially focused advice throughout this process.”

Druces played a key role in advising on all facets of the transfer, which included navigating regulatory compliance, drafting the prospectus, and preparing other admission documentation. This transaction illustrates Druces' extensive experience in assisting public companies across varying market platforms including the Main Market, AIM, and Aquis Exchange.

In recognition of its expertise, Druces is currently ranked 2nd in the UK according to the AIM Adviser Rankings Guide Q1 2025, and it continues to receive accolades in the Corporate Advisers Rankings Guide 2025 Q3 for its work pertaining to both AIM and Main Market transactions. The Capital Markets team at Druces remarkably completed 14 deals in H1 2025 across sectors such as Natural Resources, Energy, and Technology, showcasing the firm’s sustained momentum and cross-sector proficiency.

Pan African Resources PLC, identified on the London Stock Exchange as LSE: PAF, and on the JSE as PAN, operates various mining projects in South Africa, including the Barberton Mines, Evander Mines, and the Elikhulu Tailings Retreatment Plant, along with the Tennant Mines in Australia. The company’s strategic focus is on sustainable growth, enhancing operational efficiency, and delivering long-term value to shareholders through responsible mining.

Founded in 1767, Druces LLP boasts a rich heritage as a reputable law firm based in the City of London. The firm provides counsel particularly to listed companies, financial institutions, and high-growth businesses across various sectors, notably natural resources, technology, and real estate. Druces leverages its historical knowledge alongside modern innovation to offer strategic, commercial advice that supports clients at all stages of the corporate life cycle, from public market admissions to major transactions and governance advisories.

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