Pan African Resources PLC - Rosebank-headquartered gold producer - Tembo Capital Holdings Guernsey Ltd sells entire 2.5% stake in Pan African Resources. Tembo sells 58.8 million shares at 39 pence each, worth £22.9 million, in a placing run by Joh Berenberg, Gossler & Co KG and BMO Capital Markets Ltd as joint bookrunners. The Tembo disposal is of existing shares, so Pan African Resources will receive no funds from the sale.

Current stock price: 40.55p, down 4.9% in London on Wednesday

12-month change: up 97% from 20.60p

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