Page 156 - Profile's Stock Exchange Handbook - 2026 Issue 2

JSE - PAN Profile’s Stock Exchange Handbook: 2026 - Issue 2
Pan African Resources plc PBT Holdings Ltd.

ISIN: GB0004300496 SHORT: PAN-AF CODE: PAN ISIN: ZAE000256319 SHORT: PBT HOLD CODE: PBT
REG NO: 3937466 FOUNDED: 2000 LISTED: 2007 REG NO: 1936/008278/06 FOUNDED: 1981 LISTED: 2012
NATURE OF BUSINESS: Pan African is an internationally expanding NATURE OF BUSINESS: PBT Holdings Ltd. is a pre-eminent data,
mid-tier gold producer. Our shares trade on the following markets: analytics and software engineering consultancy delivering
• In South Africa through a primary listing on the Main Board of the enterprise-scale solutions and services to blue-chip clients. PBT
JSE (ticker: PAN) and a secondary listing on the A2X Market (A2X) Holdings Ltd. has a staff complement of 828, of which the vast
• In the UK on the AIM of the LSE (ticker: PAF), with the intention majority are highly skilled and professional consultants. PBT
to migrate to the Equity Shares Commercial Companies (ESCC) Group has established strategic alliances with recognised local
segment of the Main Market and international vendors. PBT Group’s consultants have a sincere
• In the United States of America (USA) on the OTCQX Best Market commitment to providing the highest levels of service and the
(OTCQX) through a Level 1 American Depository Receipt (ADR) most appropriate solutions to its clients.
programme sponsored by the Bank of New York Mellon (ticker: SECTOR: Technology--Technology--Software & CompSer--ComputerService
PAFRY) and ordinary shares (ticker: PAFRF). NUMBER OF EMPLOYEES: 828
SECTOR: Basic Materials--Basic Resrcs--Precious Met & Min--Gold Min DIRECTORS: Dyers C L (ind ne), Taukobong P (ne), Winkler A L (ind ne),
NUMBER OF EMPLOYEES: 2 494 Taylor T (Chair, ind ne), Read E (CEO), Pieters B (CFO)
DIRECTORS: Earp D (ld ind ne), Mosololi T F (ind ne), Needham C D S MAJOR ORDINARY SHAREHOLDERS as at 31 Mar 2025
(ind ne), Themba Y (ind ne), Spencer K C (Chair, ind ne), Loots C (CEO), Spalding Investments 10 (Pty) Ltd. 25.19%
Kok M (FD) Banque Lombard Odier & CIE SA 16.63%
MAJOR ORDINARY SHAREHOLDERS as at 10 Apr 2026 Poppy Ice Trading 23 (Pty) Ltd. 8.75%
Allan Gray Investment Management 19.63% POSTAL ADDRESS: PO Box 276, Century City, 7446
PAR Gold (Pty) Ltd. 13.78% MORE INFO: www.sharedata.co.za/sdo/jse/PBT
Public Investment Corporation (SOC) Ltd. 13.40% COMPANY SECRETARY: Anastassia Sousa
POSTAL ADDRESS: PO Box 2768, Pinegowrie, 2123 TRANSFER SECRETARY: JSE Investor Services (Pty) Ltd.
MORE INFO: www.sharedata.co.za/sdo/jse/PAN SPONSOR: Questco Corporate Advisory (Pty) Ltd.
COMPANY SECRETARY: St James’s Corporate Services (Jane Kirton) AUDITORS: BDO South Africa Inc.
TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd. CAPITAL STRUCTURE Authorised Issued
SPONSOR: Questco (Pty) Ltd. PBT Ords no par val 200 000 000 99 053 947
AUDITORS: PwC LLP
CAPITAL STRUCTURE Authorised Issued DISTRIBUTIONS [ZARc]
Ldt
Pay
Amt
PAN Ords GBP1p ea - 2 333 671 529 Ords no par val 15 Dec 25 22 Dec 25 15.00
Interim No 28
DISTRIBUTIONS [GBPp] Share Premium No 27 15 Dec 25 22 Dec 25 15.00
Ords GBP1p ea Ldt Pay Amt LIQUIDITY: Apr26 Avg 140 771 shares p.w., R885 201.9(7.4% p.a.)
Interim No 16 10 Mar 26 17 Mar 26 0.55
Final No 15 25 Nov 25 9 Dec 25 1.64
LIQUIDITY: Apr26 Avg 39m shares p.w., R865.4m(87.7% p.a.)
NOTE: PBT Group Ltd. was renamed to PBT Holdings Ltd. on
12 November 2025.
FINANCIAL STATISTICS
FINANCIAL STATISTICS Sep 25 Mar 25 Mar 24 Mar 23 Mar 22
Dec 25 Jun 25 Jun 24 Jun 23 Jun 22 (R million)
(USD ‘000) Interim Final Final Final(rst) Final
Interim Final Final Final(rst) Final(rst) Turnover 568 1 087 1 072 1 041 976
Turnover 487 062 540 033 373 796 319 892 376 371 Op Inc 72 135 132 140 131
Op Inc 219 688 215 850 119 307 94 182 111 574 NetIntPd(Rcvd) - 1 - 3 - 4 - -
NetIntPd(Rcvd) 9 755 19 217 9 900 9 116 4 231 Minority Int 19 35 33 30 25
Minority Int - 125 - 992 - 552 - 402 - 185 Att Inc 35 65 60 68 67
Att Inc 147 967 141 597 79 378 60 918 75 137 TotCompInc/Loss 53 99 97 137 117
TotCompInc/Loss 185 851 155 554 90 449 19 746 35 756 Fixed Ass 1 2 3 4 3
Fixed Ass 917 869 824 450 567 588 395 247 355 802 Inv & Loans 8 6 11 9 124
Inv & Loans - - 3 373 - 1 127 Tot Curr Ass 201 221 202 381 195
Tot Curr Ass 159 767 105 457 60 393 58 923 53 114 Ord SH Int 239 255 252 401 349
Ord SH Int 689 678 548 825 365 217 292 483 292 356 Minority Int 29 25 26 22 17
Minority Int - 2 442 - 2 157 - 1 114 - 527 - 171 LT Liab 4 6 10 2 7
LT Liab 306 095 281 970 237 104 135 385 103 079 Tot Curr Liab 100 94 84 118 100
Tot Curr Liab 163 628 175 871 84 864 77 386 58 989 PER SHARE STATISTICS (cents per share)
PER SHARE STATISTICS (cents per share) HEPS-C (ZARc) 34.90 60.30 62.70 82.20 82.89
HEPS-C (ZARc) 127.57 107.02 77.65 55.80 59.81 DPS (ZARc) 15.00 44.50 43.00 205.00 87.00
DPS (ZARc) 12.00 37.00 22.00 18.00 18.00 NAV PS (ZARc) 230.00 240.00 240.00 381.00 329.00
NAV PS (ZARc) 562.40 477.48 345.61 286.78 250.22 3 Yr Beta 0.36 0.26 0.41 0.29 0.16
3 Yr Beta 1.38 0.64 0.69 0.84 1.35 Price High 747 679 1 050 1 300 1 000
Price High 2 750 1 264 640 485 476 Price Low 541 536 650 700 308
Price Low 1 100 599 293 283 295 Price Prd End 671 551 665 850 850
Price Prd End 2 693 1 109 605 303 394 RATIOS
RATIOS Ret on SH Fnd 39.84 35.44 33.29 23.31 25.22
Ret on SH Fnd 43.03 25.72 21.65 20.73 25.65 Oper Pft Mgn 12.74 12.40 12.34 13.48 13.41
Oper Pft Mgn 45.10 39.97 31.92 29.44 29.64 D:E 0.12 0.09 0.04 0.01 0.02
D:E 0.53 0.68 0.66 0.50 0.36 Current Ratio 2.02 2.35 2.40 3.23 1.94
Current Ratio 0.98 0.60 0.71 0.76 0.90 Div Cover 2.33 1.45 1.40 0.38 0.92
Div Cover 10.57 3.52 3.52 3.14 3.30
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