AFE African Eagle

 
TIDMAFE 
 
 
   9 April 2014 
 
   African Eagle Resources plc 
 
   ("African Eagle" or the "Company") 
 
   Change in Directors' shareholdings and proposed Board Changes 
 
   African Eagle announces that the Company has been notified of the 
following disposals of Ordinary Shares of 0.1 pence each in the issued 
share capital of the Company ("Ordinary Shares") by directors of African 
Eagle ("Directors") at a price of 0.225p per Ordinary Share and confirms 
that the Directors no longer own any Ordinary Shares in the Company: 
 
 
 
 
 
                    Number of Ordinary Shares 
Name               held prior to the disposal    % of issued share capital (%) 
Julian McIntyre                    184,245,047*                          21.15 
Mark Thompson                        17,526,571                           2.01 
Paul Colucci**                       14,285,714                           1.64 
 
 
   *held by Allard Services Limited which is a family trust company of 
Non-Executive Director Julian McIntyre 
 
   **this disposal is due to complete later today 
 
   The Ordinary Shares have been purchased by Salkeld Investments Limited, 
an entity wholly owned by Mr Nick Clarke. Following the purchases Nick 
Clarke will be beneficially interested in 228,057,332 Ordinary Shares in 
African Eagle, representing approximately 26.18 per cent. of the issued 
share capital. 
 
   The Company also announces that it is proposed that Mr Nick Clarke and 
Mr Kola Karim will, subject to compliance with the AIM Rules, be 
appointed to the Board in due course and it is proposed that Julian 
McIntyre, Venkat Siva, Mark Thompson and Paul Colucci will resign with 
effect from the appointment date of Mr Clarke and Mr Karim or earlier. A 
separate announcement will be made in due course in relation to the 
proposed new Board members in accordance with the AIM Rules. 
 
   Nick Clarke went to the Camborne School of Mines graduating with a BSc 
in mining and is an entrepreneur having founded and sold two trading 
house businesses. Since 2010, Mr Clarke has been a private investor in a 
number of resource companies, including African Eagle Resources plc.  Mr 
Clarke purchased substantially all of the African Eagle subsidiaries', 
assets and liabilities in August 2013. 
 
   Kola Karim is Group Managing Director and Chief Executive Officer of 
Shoreline Energy International, an energy and infrastructure company 
focused on Africa. 
 
   Further announcements will be made in accordance with the AIM Rules in 
due course. 
 
   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, Managing 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 
 
 
   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. 
 
   ENDS 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: African Eagle Resources PLC via Globenewswire 
 
   HUG#1775974 
 
 
  http://www.africaneagle.co.uk/ 
 

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