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Provider: Reuters Investment Profile
Provider: GlobalData

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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. 

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