| Fri 17 Aug 2007, 15:01 | | AEA-African Eagle Resources plc- African Eagle to |
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JSE
AFEPLC
AEA-African Eagle Resources plc- African Eagle to List on Altx on 24 August 2007
African Eagle Resources plc
(Incorporated in England and Wales, registered number 3912362)
AIM share code: AFE & AIM ISIN: GB0003394813
JSE share code: AEA & JSE ISIN: GB0003394813
("African Eagle" or "the Company")
AFRICAN EAGLE TO LIST ON ALTX ON 24 AUGUST 2007
African Eagle Resources plc, a mineral exploration and development company with
projects in Zambia, Tanzania and Mozambique, will list on the Alternative
Exchange of the JSE (AltX) on 24 August 2007 under the share code "AEA". The
company is currently listed on AIM, a market operated by the London Stock
Exchange.
Says African Eagle Chairman John Park, "In seeking a listing on AltX we wanted
to raise the awareness of the company and to give South African investors an
opportunity to invest both directly in African Eagle and its African projects.
The South African market, with its understanding of both mining and Africa,
provides African Eagle with another potential source of capital and all
investors with an additional market for trading African Eagle ordinary shares."
African Eagle aims to get two or more projects into production within three to
five years, with the revenue supporting a pipeline of further discoveries and
developments.
The company`s board and management combine considerable experience in mineral
exploration and mining, with excellent local knowledge of the Central, Eastern
and Southern African regions through direct involvement over many years.
In July 2007 African Eagle raised capital from selected South African and UK-
based investors in a private placing, in African Eagle`s largest single capital
raising undertaken to date.
At the close of the private placing on 27 July 2007, African Eagle had received
irrevocable applications from South African investors to subscribe for
45,457,310 African Eagle shares of 1 pence each at a price of R1.95, totalling
R88 million. Further to this, JP Morgan Fleming Natural Resources Fund, a long-
standing existing shareholder in the UK, committed to subscribe for 8 000 000
shares at the pound sterling equivalent of R1.95.
The pre-listing statement will be issued on Monday, 20 August 2007 and the
abridged pre-listing statement is attached.
Application will be made for the 53,457,310 Placing shares to be admitted to
trading on AIM with effect from
24 August 2007.
17 August 2007
Queries:
Russell and Associates
Charmane Russell:
(Tel) 011 880 3924
(Mobile) 082 372 5816
James Duncan
(Tel) 011 880 3924
(Mobile) 082 892 8052
Seymour Pierce
Nicola Marrin
+ 44 20 7107 8000
Date: 17/08/2007 15:01:00 Produced by the JSE SENS Department.
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