About Us

Avner Radomsky of Valentine & Co, 5 Stirling Court, Stirling Way, Borehamwood, Hertfordshire WD6 2FX was appointed Administrator of African Eagle Resources Plc on 19 January 2016. The affairs, business and property of the Company are being managed by the Administrator, who acts as an agent of the Company and without personal liability

African Eagle Resources is a UK-incorporated company traded on London AIM (AFE) and Johannesburg AltX (AEA). The Company recently disposed of substantially all of its subsidiaries but retains a 10% free carried interest in the Dutwa nickel project in Tanzania. The interest is non-diluting until $20m of spending has occurred on exploration and development.

The Company also has a shareholding of approximately 14.4% in Elephant Copper Ltd, a BVI registered company, with interests in copper projects in Zambia.

Following disposal of 90% of the entire issued share capital of Blackdown Minerals, the Company has become an investing company under AIM Rule 15. The Company’s Investing policy is set out below:

The Company's Investing Policy is to seek opportunities in the natural resources, infrastructure and services sectors located in all geographic regions.

The Company's objective is to generate an attractive rate of return for Shareholders, by taking advantage of opportunities to invest in the natural resources, infrastructure and services sectors. There is no limit on the number of projects into which the Company may invest, and the Company's financial resources may be invested in a number of propositions, or in just one investment, which is likely to be deemed to be a reverse takeover pursuant to Rule 14 of the AIM Rules.

The Company will seek investment opportunities to exploit rights to natural resources or interests in infrastructure and services sectors worldwide, which the Directors believe are undervalued or present significant growth opportunities and where one or more such transactions have the potential to create value for Shareholders. This may be achieved through acquisitions, partnerships or joint venture arrangements. Such investments may result in the Company acquiring the whole or part of a company or project.

The strategy of the Company is to leverage the contacts of the Board to investigate the current opportunities available to it, with a view to identifying appropriate target investments in the natural resources or infrastructure and services sectors with some or all of the following characteristics:

  • a strong management team;
  • significant growth prospects;
  • the probable benefits of achieving enhanced potential from access to additional working capital; and
  • the likelihood of benefits accruing from being part of a group with publicly traded shares.

The Directors' preference is to acquire 100 per cent. of any potential target investment in order to obtain the full benefit of their growth prospects. However, equity interests of less than 100 per cent. will be considered if the opportunity is compelling.

The Company's Investing Policy is intended to be long-term, but if circumstances, arise whereby an acquired business or company may be floated in its own right, or disposed of at a suitable premium, such opportunities will be considered.
Under the AIM Rules, the Company is required to make an acquisition or acquisitions which constitute a reverse takeover under the AIM Rules or otherwise implement its Investing Policy within 12 months of the date of the General Meeting, failing which the Ordinary Shares would be suspended from trading on AIM in accordance with AIM Rule 40.

If the Company's Investing Policy has not been implemented within 18 months of the date of the General Meeting then the admission to trading on AIM of the Ordinary Shares would be cancelled and the Directors will convene a general meeting of the Shareholders to consider whether to continue seeking investment opportunities or to wind up the Company and distribute any surplus cash back to Shareholders.
 

Correspondence Address & Registered Office: 64 New Cavendish Street, London, W1G 8TB, UK
Phone: +44 20 7002 5361 / E-mail: info@africaneagle.co.uk

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