Scheme Booklet Dispatched

• Emmerson Resources to be acquired by Pan African Resources via scheme of arrangement
• Scheme Booklet containing details of the transaction has been dispatched to shareholders
• Independent Expert has concluded the scheme is fair and reasonable and in the best interests of shareholders

Emmerson Resources Limited (ASX: ERM) has completed the dispatch of the Scheme Booklet to shareholders regarding the proposed acquisition of 100% of the company by Pan African Resources plc (via Tennant Consolidated Mining Group Pty Ltd) by way of a Court-approved scheme of arrangement. The Scheme Booklet contains important information about the scheme, including the reasons why shareholders may wish to vote in favour or against the scheme, and details of Pan African's intentions for the enlarged group. The Independent Expert has concluded that the scheme is fair and reasonable and in the best interests of Emmerson shareholders in the absence of a superior proposal. The Emmerson Directors unanimously recommend that shareholders vote in favour of the scheme, subject to the Independent Expert continuing to conclude that the scheme is in the best interests of shareholders.