Pan African Resources PLC (LSE:PAF) has announced a notable reduction in the number of CHESS Depositary Interests (CDIs) quoted on the Australian Securities Exchange during July 2026. The balance declined from 102,641,421 at the end of June to 71,610,794 by 31 July, representing a net decrease of 31,030,627 CDIs over the month.
Transfers Reflect Movement Between Listing Venues
The company said the reduction was the result of investors transferring holdings between ASX-listed CDIs and ordinary shares traded on the London Stock Exchange and the Johannesburg Stock Exchange. Pan African Resources emphasised that the movement does not affect its total issued share capital, instead reflecting changes in where investors choose to hold and trade their shares across the group’s multiple listing venues.
Outlook Supported by Strong Operations Despite Technical Weakness
Pan African Resources continues to benefit from strong profitability and a healthy balance sheet, supported by recent operational updates highlighting rapid debt reduction and expectations for further production growth. However, these strengths are partly offset by weaker free cash flow generation and negative technical indicators, with the share price continuing to trade below key moving averages.
About Pan African Resources
Pan African Resources is a precious metals producer with primary listings in London, Johannesburg and the Australian Securities Exchange, where it trades under the ticker PAF. The company operates gold mining assets in South Africa through Pan African Resources Funding Company and provides investors with access to its shares across multiple international markets.
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