Pan African Resources (LON:PAF) - There!
Feb 18th 2013 - Edison Investment Research today published a report on Pan African Resources (PAF.L, LSE:PAF, LON:PAF) entitled "There!". In summary, the report says:
Pan African has today announced that the last remaining condition precedent to closing the Evander transaction (namely receipt of consent from the Department of Mineral Resources (DMR) in accordance with section 11 of the Mineral and Petroleum Resources Development Act, No. 28 of 2002) has now been met. As a result, the transaction is now unconditional and Pan African will assume de jure control of Evander from 28 February 2013. From that date, the financial results of Evander will be consolidated into those of Pan African. As such, Pan African’s full-year results to 30 June 2013 will therefore include four months of contributions from Evander, compared to a previous Edison assumption of six months. Forecasts have now been adjusted to...
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