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African Eagle price doubles as Clarke takes stake to 26%

Published: 15:40 09 Apr 2014 BST

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Shares in African Eagle (LON:AFE) shot higher as mining entrepreneur Nick Clarke took his stake to over 26% through the acquisition of shares held by three other directors. 

The one-time nickel explorer became a shell company last year after it sold the assets and liabilities of its Dutwa project in Tanzania to Clarke.

Today, his vehicle, Salkeld Investments, bought some 216mln shares owned by directors Julian McIntyre, Mark Thompson and Paul Colucci for 0.225p per share.

Clarke and Kola Karim, who is currently group managing director and chief executive of Shoreline Energy International, an Africa-focused energy and infrastructure company, will also now replace McIntyre, Thompson and Colucci and another director, Venkat Siva, on African Eagle’s board.

Following today’s purchases Clarke’s stake in African Eagle wil rise to 26.18%.

Shares jumped 110% to 0.4p.


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