African Eagle Resources Regulatory News (AFE)

3 Oct 2005 15:44

African Eagle Resources PLC03 October 2005 AFRICAN EAGLE RESOURCES plc HOLDINGS IN COMPANY GRANTS UNDER EMPLOYEE SHARE SCHEME African Eagle Resources plc (the Company, Ticker: AFE.L) has been notified by JPMorgan Chase and Co that it has increased its total aggregate holding to10,980,000 Ordinary Shares, equal to 9.71% of the issued share capital of theCompany. The Company has also been notified by RAB Capital plc that its holding is32,105,312 ordinary shares, equal to 28.38% of the issued share capital, and not33,105,213 shares as announced on 30th September. African Eagle Resources plc is pleased to announce that the Inland Revenue hasapproved its Share Incentive Plan and that on 27 September the Company resolvedto issue 180,899 ordinary shares to the Plan, representing an aggregate value of£36,858 at the average market price of 20.375p per share on the five workingdays prior to the issue. The Company has made application for the new shares to be admitted to trading onAIM. Bevan MetcalfCompany Secretary 3 October 2005 For further information Tel Mobile John Park (Chairman) African Eagle 020 7248 6059 077 7980 1159or Mark Parker (MD) Leesa Peters or Amanda Harris Conduit PR 020 7936 9095 078 1215 9885 Chris Sim or Simon Leathers Evolution Securities 020 7071 4309 020 7071 4315 About the Company African Eagle is an AIM-listed exploration company active in East Africa. TheCompany's strategy is to build up an asset base by discovering or acquiringmineral deposits, and to realise value for shareholders by selling orspinning-off successful projects or though a takeover of the Company. See our web site www.africaneagle.co.uk for information about the company andits projects. This information is provided by RNS The company news service from the London Stock Exchange