DIRECTORS DEALINGS AND HOLDINGS IN COMPANY
News Report
29 March 2005
African Eagle ("the Company", ticker AFE) announces that Mr Mark Parker, a Director, and his wife have today sold 358,000 shares at a price of 19p per share. The proceeds of the sale are being used to exercise warrants to purchase 1,125,000 shares at a price of 6p per share.
The Company also announces that on 24 March 2005 Mr John Park, a Director, and his wife exercised warrants to purchase 1,833,334 shares at a price of 6p per share.
In addition, exercises of warrants to purchase a further 726,667 shares at 6p per share and an exercise of options to purchase 15,000 shares at 8p per share have been received by the Company.
On completion of these transactions the issued share capital of the Company will be 103,179,961. Mr Park and his wife will hold 5,341,801 shares, equivalent to 5.18% of the total issued and Mr Parker and his wife will hold 3,381,087 shares, equivalent to 3.28% of the total issued shares.
Application will be made for the new shares to be admitted to trading on AIM.
Bevan Metcalf
Finance Director
African Eagle Resources plc
+44 20 72 48 60 59 Fax +44 20 76 91 77 45 email info@africaneagle.co.uk