| Mon 11 Jul 2011, 8:00 | | AEA - African Eagle Resources plc - Block admission application and exercise of |
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AEA
AEA
AEA - African Eagle Resources plc - Block admission application and exercise of
share option
African Eagle Resources plc
Incorporated in England and Wales
(Registration number 3912362)
(AIM share code: AFE AIM ISIN: GB0003394813)
(JSE share code: AEA JSE ISIN: GB0003394813)
BLOCK ADMISSION APPLICATION AND EXERCISE OF SHARE OPTION
African Eagle Resources plc ("African Eagle", "AFE" or "the Company", ticker
AIM: AFE, AltX: AEA) announces that an application has been made by the Company
to the AIM Market of the London Stock Exchange plc for the block admission of up
to 5,000,000 ordinary shares of 1p each which may be allotted and issued in due
course, should options granted to employees of the Company under the rules of
the Company`s employee share option scheme be exercised.
Additionally, the Company has applied for the admission of 322,000 ordinary
shares of 1p each pursuant to exercise of employee options as part of an
employee share option scheme ("the Options").
Pursuant to the exercise of the Options, the Company has made application for
322,000 new shares to be admitted to trading on AIM ("Admission"). It is
expected that Admission will take place and trading will become effective at
8:00am on 15 July 2011.
Following the exercise of the Options, the Company`s total issued share capital
will be 409,715,128 ordinary shares.
Sponsor
Merchantec Capital
11 July 2011
For further information, see the Company`s website www.africaneagle.co.uk or
contact one of the following:
Bevan Metcalf - Finance Director
African Eagle Resources plc
+44 20 7248 6059
+44 77 5640 6899
Andrew Chubb/Bhavesh Patel
Canaccord Genuity Limited
+44 20 7050 6500
Guy Wilkes
Ocean Equities Limited
+44 20 7786 4370
Charmane Russell/Marion Brower
Russell & Associates, Johannesburg
+ 27 11 8803924
+ 27 82 8928052
About African Eagle
Since discovering a major nickel oxide deposit at Dutwa in Tanzania, African
Eagle is in transition from an explorer into a nickel producer. The Company is
now working towards a pre-feasibility study at Dutwa which is scheduled for
completion by the end of Q3, 2011. In addition the Company is also evaluating a
second promising nickel oxide at Zanzui, which is located 60 km from Dutwa.
Aside from its nickel projects, the most valuable asset is the copper portfolio
in Zambia which the Company plans to IPO later this year.
Date: 11/07/2011 08:00:04 Produced by the JSE SENS Department.
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