Sharenet Sites 
Sharenet Sites
Board Changes
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”)
Board Changes
Further to the announcement of 9 April 2014, African Eagle announces the appointment of Mr
Nicholas Antony Clarke (Nick Clarke) (aged 53) and Mr Orikolade Adebayo Karim (Kola Karim) (aged
45) to the board of African Eagle (“Board”) with immediate effect. In addition, Robert McLearon, who
is currently the Managing Director of African Eagle will step down as Managing Director and assume
the position of Finance Director with immediate effect.
Kola Karim, who has been appointed as Non-Executive Chairman of African Eagle, is the CEO and
controlling shareholder of Shoreline Energy International Limited, a Nigerian conglomerate with
interests that span oil and gas, power, engineering, infrastructure and construction across sub-
Saharan Africa. Kola went to City University, has attended Leicester University MBA programme, he
also attended Harvard Business School and the Harvard Kennedy School of Government. He was
named a Young Global Leader by the World Economic Forum in 2008.
The following table sets out the names of all companies and partnerships of which Kola Karim has
been a director or partner at any time in the previous five years:-
Current Directorships / Partnerships Directorships / Partnerships in the last 5 years
Shoreline Building Services Limited Askar Paints Nigeria Limited
Shoreline Power Company Limited Alumaco Nigeria Plc
Fortis Construction Company Limited
Equestrian Company Limited
CWA Furniture & Joinery Limited
CWA Homes Limited
Industrial and Mechanical Services Limited
Shoreline Electrical Systems Limited
Shoreline Oil Services Limited
Stonebrand International Limited
L.D’Alberto & Co Ltd
Agbara Shoreline Company Limited
Davof Technical Services Limited
Koda Trading Company Limited
Satellite Communication and Industrial Technical
Limited
Double Platform Infrastructural Limited
Davof Trading Company (Nigeria) Limited
Schlumberger Testing and Production Services
Nigeria Limited
Fortis Ghana Limited
Shoreline Natural Resources SPV1 Limited
Shoreline Power Company SPV1 Limited
Hermosa Management Company Limited
Vanguard Life Assurance Limited
Seven Seven Market Limited
Arden House Residents Company Limited
Shoreline Energy International Limited
Costain (West Africa)Plc
Nigerian Ropes Plc
Shoreline Natural Resources Limited
Trans Amadi Facilities Limited
A G Leventis (Nigeria) Plc
EcoBank Nigeria Limited
Agbara Shoreline Power Limited
Shoreline Energy International Limited currently holds 140,937,440 ordinary shares in the issued
share capital of African Eagle representing approximately 16.18 per cent. of the issued share capital
of the Company. Kola Karim owns 90 per cent. of the issued share capital of Shoreline Energy
International Limited and is also the company’s Chief Executive Officer.
Nick Clarke, who has been appointed as Chief Executive Officer of African Eagle, went to Camborne
School of Mines graduating with a BSc (Hons) in Mining. He is a successful entrepreneur having
founded and sold a carbon trading business and a natural gas trading company and has made
numerous investments in the mining sector as well as investments in other sectors. He has more than
thirty years’ experience in natural resources and related industries.
The following table sets out the names of all companies and partnerships of which Nick Clarke has
been a director or partner at any time in the previous five years:-
Current Directorships / Partnerships Directorships / Partnerships in the last 5 years
Salkeld Investments Limited (England and Wales) Grendahl Investment Limited (England and
Brackenwood Polo Limited (England and Wales) Wales)
Blackdown Resources (UK) Ltd (England and Wales) Carbon Resource Management Ltd (England
Interalloys Trading Limited (England and Wales) and Wales)
Interalloys Limited (England and Wales) Treliver Minerals Ltd (England and Wales)
Smarta Enterprises Limited (England and Wales)
Blackdown Minerals Limited (England and Wales)
Twigg Minerals Limited (England and
Wales)
Twigg Resources Limited (England and
Wales)
Twigg Gold Ltd
(Tanzania)
W.G.Exploration Ltd (Tanzania)
Kiokote Exploration Ltd (Tanzania)
Twigg Minerals Ltd (Tanzania)
Tanzania Nickel Holdings Limited (BVI)
Nick Clarke currently holds 87,119,892 ordinary shares in the issued share capital of African Eagle
representing approximately 10 per cent. of the issued share capital of the Company through his
wholly owned company Salkeld Investments Limited.
There are no further disclosures to be made under Schedule 2(g) of the AIM Rules for Companies.
Robert McLearon, Finance Director commented “I am delighted to welcome Nick and Kola to the
Board and believe that their proven entrepreneurial skills, enthusiasm and experience in Africa and
natural resources will, in time, result in value enhancing transactions for the benefit of shareholders.”
Given that the Board comprises only three directors it has been decided that until such point as
further non-executive directors are appointed the Audit and Remuneration Committees will comprise
all three directors. It is hoped that further non-executive directors will be appointed in due course and
that they will take on the responsibilities of the Audit and Remuneration Committees. Mr Kola Karim
will chair the Remuneration Committee and Mr Robert McLearon will chair the Audit Committee.
For further information please visit www.africaneagle.co.uk or contact the following:
Enquiries:
African Eagle Resources plc Tel: +44 (0) 20 7002 5361
Robert McLearon, Finance Director
Beaumont Cornish Limited (Nominated Adviser) Tel: +44 (0) 207 628 3396
Roland Cornish
Emily Staples
Pareto Securities Limited (Broker) Tel: +44 (0) 20 7786 4370
Guy Wilkes
JSE Sponsor
Merchantec Capital
30 May 2014
About African Eagle
African Eagle Resources plc is quoted on the AIM Market of the London Stock Exchange (AFE) and
Johannesburg AltX (AEA) stock exchanges.
Date: 30/05/2014 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
