| Tue 30 Oct 2007, 15:00 | | AFE / AEA - African Eagle Resources plc - Grant Of |
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AEA
AEA
AFE / AEA - African Eagle Resources plc - Grant Of Share Options
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
GRANT OF SHARE OPTIONS
African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM:
AFE, AltX: AEA) today announces that it has granted 10,050,000 share options
at an exercise price of 15p to employees and directors under the Company`s
share option scheme. The share options will become exercisable after 25
October 2008 and will expire on 25 October 2012. The grants to directors
included 875,000 share options each to Mr Davies and Mr Parker; 850,000 share
options each to Mr Park and Mr Metcalf; 800,000 share options to Mr
Worthington; and 750,000 share options to Mr Cooper.
Under the rules of the scheme, the options may not normally be exercised
before the first anniversary of the date of grant and may not in any event be
exercised later than the fifth anniversary of the date of grant.
Bevan Metcalf
Company Secretary
African Eagle Resources plc
30 October 2007
For further information, see the Company`s web site www.africaneagle.co.uk or
contact one of the following:
Bevan Metcalf
+44 20 7248 6059
Nicola Marrin
Seymour Pierce
+44 20 7107 8000
About African Eagle
African Eagle is a mineral exploration and development company operating in
eastern and central Africa. The Company`s principal advanced projects are the
Mkushi Copper Mines project in Zambia and the Miyabi gold project in
Tanzania, which are being prioritised towards production. The Company also
holds a large well-balanced portfolio of promising earlier stage gold and
base metal projects, including the Ndola copper project and the Eagle Eye
iron-oxide copper gold project.
African Eagle`s projects are in Zambia, Tanzania and Mozambique, countries
which all have highly prospective geology, relatively low above-ground risks
and track records of successful major investments in the metals and minerals
industries.
African Eagle specialises in project generation and exploration and has a
highly motivated team, proven management and an experienced board. To take
its discoveries into production, it seeks to sign up industry partners with
records of successful mine development. These joint ventures and, in time,
the revenue from advanced projects, will finance future exploration and new
discoveries.
Date: 30/10/2007 15:00:00 Produced by the JSE SENS Department.
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