Pan African Resources PLC - Rosebank-based gold producer - Plans to start phase one of a share buyback programme to the tune of R 50 million, or about £2.6 million, over one month from April 1. It says its shares offer significant value given the quality and profitability of its existing operations and growth projects. The share buyback programme is part of the company’s broader strategy to deliver value to its shareholders.

Current Johannesburg stock price: R 4.25, up 1.0%

12-month change: up 35%

Current London stock price: 22.45 pence, up 0.2%

12-month change: up 37%

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