17th Jun 2014 15:12
LONDON (Alliance News) - African Eagle Resources PLC said Tuesday that it had entered into an unsecured loan facility for up to GBP365,000 with its Chief Executive Nick Clarke and Chairman Kola Karim.
Under the terms of the loan, it is available for draw down until November 30, 2015 and will accrue interest at a rate of 5% per year.
African Eagle said the loan will be used for general working capital purposes.
Shares in African Eagle were trading up 19.4% at 0.400 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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