Key Developments: African Eagle Resources PLC (AEAJ.J)

AEAJ.J on Johannesburg Stock Exchange

5.00ZAX
8 Aug 2014
Price Change (% chg)

-1.00 (-16.67%)
Prev Close
6.00
Open
5.00
Day's High
5.00
Day's Low
5.00
Volume
232,500
Avg. Vol
79,105
52-wk High
7.00
52-wk Low
4.00

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Latest Key Developments (Source: Significant Developments)

African Eagle Resources PLC does not recommend dividend
Wednesday, 18 Jun 2014 11:00am EDT 

African Eagle Resources PLC:Says it do not recommend the payment of a dividend.  Full Article

African Eagle Resources PLC announces beneficial shareholding by Salkeld Investments Limited
Thursday, 10 Apr 2014 11:00am EDT 

African Eagle Resources PLC:Salkeld Investments Limited, wholly owned by Nick Clarke sold 140,937,440 shares of 0.1 pence each in issued share capital of company.Says at price of 0.225 pence per ordinary share to Shoreline Energy International Limited.Representing 16.18 pct interest in African Eagle Resources PLC.Salkeld Investments Limited holds 87,119,892 representing 10 beneficial interest in African Eagle Resources PLC after disposal.  Full Article

African Eagle Resources PLC Raise GBP300,000
Monday, 16 Sep 2013 10:30am EDT 

African Eagle Resources PLC announced it has conditionally raised net proceeds of GBP300,000 through a placing of 171,428,571 new ordinary shares of 0.1p each in the Company at a price of 0.175 pence per Placing Share with certain existing shareholders and directors. The Issue Price represents a discount of approximately 41.7% 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 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.  Full Article

African Eagle Resources PLC Announces Ownership Interest Of Coburg Group Plc
Wednesday, 24 Jul 2013 07:30am EDT 

African Eagle Resources PLC announced that Coburg Group Plc (Coburg) has purchased 78,009,570 ordinary shares of GBP0.001 each (Ordinary Shares) in the Company at a price of GBP0.0015 per Ordinary Share. In conjunction with the above transaction, Coburg has also acquired 22,574,785 unlisted warrants (Warrants) in the Company. The aggregate consideration paid by Coburg for the Ordinary Shares and the Warrants was GBP117,014. Coburg now holds a total of 78,509,570 Ordinary Shares, representing approximately 11.3% of the issued share capital of the Company. The Warrants carry the right to subscribe for new Ordinary Shares of African Eagle at GBP0.102 per Ordinary Share any time up to February 10, 2016.  Full Article

African Eagle Resources PLC Announces Proposed Disposal
Tuesday, 2 Jul 2013 02:00am EDT 

African Eagle Resources PLC announced that it has agreed to sell substantially all of its subsidiaries, assets and liabilities to Blackdown Resources (UK) Limited, a subsidiary of Cienega S.a.r.l, which is ultimately owned by Nick Clarke and his family trusts. Under the terms of the Disposal, the Company will retain a shareholding of 10% of the issued share capital of Blackdown Minerals. Under the terms of the SPA, the Company has agreed to sell 90% of the issued share capital of Blackdown Minerals to the Purchaser, for a total cash consideration of USD100,000. Completion of the Disposal is subject to two conditions; approval of the Disposal by the Shareholders; and written consent to the Disposal from the relevant mining licensing authority in Tanzania (a requirement under Tanzanian law). The Directors intend to use the USD100,000 cash consideration received by it for general working capital purposes, including, inter alia, to fund the expenses that it has incurred in executing the Disposal.  Full Article

African Eagle Resources PLC Chief Executive Officer Step Down
Monday, 24 Jun 2013 02:00am EDT 

African Eagle Resources PLC announced that, by mutual consent, Trevor Moss will step down both as Chief Executive Officer and from the board of the Company and will leave the Company, effective June 28, 2013. The Board does not intend to seek a permanent replacement Chief Executive Officer at this time. As a result of Trevor's departure, the Board announced the appointment of Robert McLearon to the Board as interim Managing Director.  Full Article

African Eagle Resources Plc Announces Correction Of Prior Announcement With Regard To Terms Of 2010 Transaction With Jacana Resources Ltd
Tuesday, 18 Jun 2013 10:30am EDT 

African Eagle Resources Plc advised that it has recently acquired missing documents with regard to the sale of certain of the Company's prior assets in Tanzania, Mozambique and Zambia to Jacana, as announced on November 22, 2010, that require the Company to restate the terms of that transaction. In the Original Transaction Announcement, the Company stated that the aggregate consideration due to the Company in consideration for the sale of the Assets was AUD1,000,000, payable in the form of cash and shares in Jacana. The Jacana Announcement incorrectly stated that the Company would receive part of its payment '.in shares on signature of the agreement.' In fact, under the terms of the Original Transaction, the Jacana shares were only due to be granted on completion of the Original Transaction. Accordingly, no shares in Jacana were received by the Company in November 2010 and none have been received since. During the course of the calendar year 2011, the prior board of directors agreed to a revised transaction structure whereby the consideration would be payable in cash only and would no longer include consideration in shares in Jacana. Accordingly, on October 25, 2011 it was agreed that the Company would receive only AUD925,000. The terms and conditions of this Revised Agreement were not announced, as required by the AIM Rules for Companies, and the Current Board are investigating why this did not occur.  Full Article

African Eagle Resources Plc Does Not Recommend Dividend
Thursday, 13 Jun 2013 02:00am EDT 

African Eagle Resources Plc announced that the Board of Directors of the Company has not declare/recommend dividend for the period.  Full Article

African Eagle Resources plc Announces Appointment Of Chief Financial Officer
Tuesday, 2 Apr 2013 02:00am EDT 

African Eagle Resources plc announced that David Newbold stepped down from the Board of Directors effective April 1, 2013. He will still continue as Chief Financial Officer (CFO) for a transitional period of six months following which he will leave the Company. The Company expects that Robert McLearon (Group Financial Controller) will thereafter assume Mr Newbold’s responsibilities in connection with the Company’s finance function.  Full Article

African Eagle Resources plc Updates On Disposal Of Zambian Copper Assets To Elephant Copper Ltd
Monday, 3 Dec 2012 02:00am EST 

African Eagle Resources plc announced that all remaining documentation regarding the disposal of its Zambian copper assets to Elephant Copper Ltd (“Elephant”) has been finalised. The transaction, as announced on July 27, 2012, has now been completed and the Company has been allotted 15 million shares in Elephant, in addition to a 2% Net Smelter Return on the Katanga Resources Ltd assets.  Full Article

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