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Placing to raise £300,000 (NET)
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)
(“African Eagle” or the “Company”)
PLACING TO RAISE £300,000 (NET)
African Eagle (AIM: AFE, AltX: AEA) is pleased to announce it has conditionally raised net proceeds of
£300,000 through a placing (the “Placing”) of 171,428,571 new ordinary shares of 0.1p each in the
Company (the “Placing Shares”) at a price of 0.175 pence per Placing Share (the "Issue Price") with certain
existing shareholders and directors. The Issue Price represents a discount of approximately 41.7 percent
to the closing middle market price of 0.3 pence per ordinary share on 13 September 2013, being the last
trading day prior to this announcement.
The Placing is conditional on admission of the Placing Shares to trading on AIM (“Admission”) and the net
proceeds of the Placing will be used to fund the general working capital requirements of the Company.
The Placing Shares represent approximately 19.7% of the enlarged issued share capital.
Placing Shares were subscribed for by certain directors of the Company and persons connected with
them, whose disclosable interests are as set out below.
Director New Ordinary Shares Shareholding Percentage of enlarged
subscribed immediately following issued share capital
admission
Allard Services Limited* 105,714,286 184,245,047 21.15%
Mark Thompson 11,428,571 17,526,571 2.01%
Paul Colucci 14,285,714 14,285,714 1.64%
* (Julian McIntyre’s family’s trust company)
The Company also announces that, pursuant to certain costs associated with the Placing, it is proposing to
settle these costs through the issue and allotment of 5,714,283 new Ordinary Shares in lieu of payment
(the “Fee Shares”).
The Placing Shares and the Fee Shares (together the “New Ordinary Shares”) will be fully paid and will
rank pari passu in all respects with the Company's existing ordinary shares of 0.1p each ("Ordinary
Shares").
Application has been made to the London Stock Exchange for Admission. It is expected that Admission
will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on
Wednesday, 18 September 2013. Following Admission the Company's issued share capital will consist of
871,157,261 Ordinary Shares with voting rights. African Eagle does not hold any Ordinary Shares in
treasury.
The aforementioned figure of 871,157,261 Ordinary Shares may be used by shareholders in the Company
as the denominator for the calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, African Eagle under the Financial Conduct Authority's
Disclosure and Transparency Rules.
The participation of Allard Services Limited, Mark Thompson and Paul Colucci in the Placing is deemed to
be a related party transaction under the AIM Rules. Robert McLearon, the Company's independent
Director in connection with the Placing considers, having consulted with Strand Hanson Limited, the
Company’s nominated adviser, that their participation in the Placing is fair and reasonable insofar as the
Company’s shareholders are concerned.
For further information, please visit www.africaneagle.co.uk or contact:
African Eagle Resources plc
Robert McLearon, Managing Director
+44 20 7248 6059
Strand Hanson Limited (NOMAD)
Stuart Faulkner
Angela Hallett
James Dance
+ 44 20 7409 3494
Ocean Equities Limited (Broker)
Guy Wilkes
+44 20 7786 4370
JSE Sponsor
Merchantec Capital
16 September 2013
Date: 16/09/2013 02:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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