Member Info for Renegade

Look at the SP versus the spread!

8,005,000 trade gone through = £20k.. Buy!

African Eagle announces that, following the announcement on 9 April 2014, Mark Thompson and Paul Colucci have resigned from the Board of Directors with immediate effect. Mr Nick Clarke and Mr Kola Karim, whose proposed appointments were also announced on 9 April 2014, will, subject to compliance with the AIM Rules, be appointed to the Board in due course. A separate announcement will be made in due course in relation to the proposed new Board members in accordance with the AIM Rules.

After todays RNS, it is my belief that both NC and Karim can now INDEPENDENTLY acquire up to 30% of AFE shares EACH before offering to buy out the company. If correct, it could mean that they COULD jointly own nearly 60% of the company and at that point, control the company. A possible TO by stealth maybe? Your thoughts please.

http://www.lse.co.uk/AllNews.asp?code=49tzv4bg&headline=Clarke_Takes_Top_Shareholder_Status_In_African_Eagle_Resources

Good. Tomorrow should be interesting then. Once this news hits the press.

As a result, the Company can confirm that, subject to satisfaction of the remaining condition precedent, being the approval of the Tanzanian mining licence authority, a 90% interest in Blackdown Minerals Limited ("Blackdown Minerals"), a company holding substantially all of the Company's assets and businesses in Tanzania, will be sold to Blackdown Resources (UK) Limited, a subsidiary of Cienega S.a.r.l. ("Cienega"), which, as previously disclosed, is ultimately owned by Nick Clarke and his family trusts. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=AFE&ArticleCode=w6408wt7&ArticleHeadline=African_Eagle_Resources_plc__Result_of_GM_and_Approval_of_Disposal_and_Investing_Policy Correction Oops! After todays announcement, NC will hold a further 26.18% of the remaining 100% of AFE (its late, I missed off a zero). Salkeld Investments Ltd = 3.7% http://www.lse.co.uk/share-regulatory-news.asp?shareprice=AFE&ArticleCode=qlc21chc&ArticleHeadline=African_Eagle_Resources_plc__Audited_Financial_Results_for_year_end_2012 In essence Wolfe, we are saying the same I believe.

More importantly, what happens to their options? http://www.lse.co.uk/share-regulatory-news.asp?shareprice=AFE&ArticleCode=kt8q25pb&ArticleHeadline=African_Eagle_Resources_PLC_Grant_of_Options

Mean't to say, please correct me if I've got this wrong.

As I read it: 90% of AFE is owned by Blackdown Resources (UK) Limited, a subsidiary of Cienega S.a.r.l. ("Cienega"), which, as previously disclosed, is ultimately owned by Nick Clarke and his family trusts. After todays announcement, NC will hold a further 26.18% of the remaining 10% of AFE. The three share holders may have sold knowing that there was no further progress/funding without NC's approval. In other words, a stalemate for them. The SP increase after the announcement was down to speculators. In essence, the only new money today is from the speculators. NC could if he wished, hold his position, do nothing and watch the SP fall and/or get diluted until a future TO price suits him. Alternatively, if NC has a deal in the offing, take the remaining few % of shares and make a formal offer for the company. The power lies with our existing II's I think and what price will they sell out?

I think its 30% and then he has to make a formal offer. That means that he's only a few % off right now. The question is, how much will NC offer to take his holding to 50%+ and take over AFE lock, stock and barrel? 5p???

With NC's new holding, its down to the existing II's to determine what price they are willing to sell their shares for. TO very likely but IMHO, not quite ready yet.

IMHO, ripe for TO by NC and his gang.

Only £3.27M.

"We are delighted to welcome Julian McIntyre (the founder and indirect majority owner of Rift Petroleum) as a significant shareholder. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=TRP&ArticleCode=hof8ab39&ArticleHeadline=Placing_Acquisition_and_Preliminary_Results

22 Jan 2014.

Cantor Fitzgerald still have a 5p target price on this.

Comforting though!

Some buying activity this morning. News on the way???

See the 2.5M share SELL late yesterday. See my point. Was it a sell or BUY?????