News blog

African Eagle Resources

• BY: Andrew Hore |
• POSTED: 02/07/2013 |

African Eagle Resources is selling its assets to Blackdown Resources, which is owned by Nick Clarke and his family interests who also own 3% of African Eagle.

Blackdown is paying £100,000 for a 90% stake in African Eagle’s remaining assets and the related liabilities. African Eagle retains a 10% stake and there are anti-dilution rights until the purchaser has invested $20m in the assets. The Tanzania government has to agree to the disposal.

African Eagle’s new investing policy will be to seek investments in natural resources, infrastructure and services sectors.

The share price slumped from 0.58p to 0.33p, which values African Eagle at £2.29m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2013_45.pdf