Pivot the unit on the spot (ignoring other units) so that it is facing directly away from the closest enemy unit.
Source: Warhammer Fantasy: 8th Edition
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If a unit fails a Panic test brought about by heavy casualties, and there is nothing to flee from (for example the damage caused by a miscast from a Wizard in the unit) in which direction should the unit flee? (p63)URL Copied!
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Source: Warhammer Rulebook Official Update Version 1.9, p. 8