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AEA
AEA
AFE - African Eagle Resources plc - Share option scheme
African Eagle Resources plc
Incorporated in England and Wales
(Registration number 3912362)
(AIM share code: AFE AIM ISIN: ZAE000151031)
(JSE share code: AEA JSE ISIN: ZAE000151031)
SHARE OPTION SCHEME
African Eagle Resources plc ("African Eagle" or "the Company", ticker AIM:
AFE, AltX: AEA) announced today that the Board had approved an Enterprise
Management Incentive (EMI) Plan. Share options currently held by UK tax
resident employees under the Company`s Unapproved Share Option Scheme will be
cancelled and re-issued under the EMI Plan which offers UK tax advantages.
The rules of the EMI Plan are not materially different from the rules of the
Company`s Unapproved Share Option Scheme. The total number of options granted
by the Company and the exercise price of these options is unaffected by the
EMI Plan. The existing Unapproved Share Option Scheme is not affected for
employees who are non UK tax payers.
Managing Director, Mark Parker comments, "Our existing incentive option
scheme has been good for the Company, helping us to recruit, retain and
motivate employees with the skills to help the Company grow and succeed. The
transfer of UK taxpaying staff from the existing scheme into an EMI Plan will
allow them to take advantage of UK tax concessions."
Sponsor
Merchantec Capital
5 October 2010
For further information on African Eagle, see the Company`s web site
www.africaneagle.co.uk or contact one of the following:
Mark Parker
Managing Director
African Eagle
+44 20 7248 6059
+44 77 5640 6899
Nicola Marrin
Seymour Pierce Limited, London
Nominated Adviser
+ 44 20 7107 8000
Guy Wilkes
Ocean Equities Limited
+44 20 7786 4370
Charmane Russell
Russell & Associates, Johannesburg
+ 27 11 8803924
+ 27 82 8928052
Ed Portman / Leesa Peters
Conduit PR, London
+44 20 7429 6607
+44 77 3336 3501
Date: 05/10/2010 08:00:02 Produced by the JSE SENS Department.
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