Issue of Equity
September 02 2003 - 4:48AM
UK Regulatory
RNS Number:2706P
African Eagle Resources PLC
02 September 2003
AFRICAN EAGLE RESOURCES plc
SHARE PLACING CONCLUDED WITH RAB CAPITAL
African Eagle is pleased to announce completion of a Placing with funds managed
by RAB Capital Limited. The proceeds of the Placing will enable the Company to
accelerate its exploration drilling programmes on a number of very promising
gold prospects.
The Placing consists of 10,000,000 Ordinary Shares at a price of 8p per share,
together with 10,000,000 Warrants to subscribe for additional new Ordinary
Shares at a price of 11p per share exercisable at any time up to 30 September
2005.
As a consequence, RAB Capital managed funds hold 19,600,000 Ordinary Shares
representing 28.59% of the issued share capital of African Eagle.
Application will be made for the new Ordinary Shares to be admitted to trading
on AIM.
For further information Tel Fax
John Park (Chairman) African Eagle 00 61 7 5528 6750 00 61 7 5528 6750
Mark Parker (MD) African Eagle 01590 679 420 020 7691 7745
Carina Corbett 4C Communications Ltd 020 7907 4761 020 7907 4769
John Robertson Nabarro Wells 020 7710 7400 020 7710 7401
2 September 2003
This information is provided by RNS
The company news service from the London Stock Exchange
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