16th Sep 2013 14:43
LONDON (Alliance News) - Coburg Group PLC Monday said it made a second investment in AIM-quoted and Johannesburg-listed company African Eagle Resources PLC, bringing its share capital in the company to 12.3%, or just over 107 million shares.
Coburg said it bought 28.5 million new African Eagle ordinary shares at a price of 0.175 pence per share.
"The placing price represents a discount of approximately 41.7% to the closing middle market price of 0.3 pence per African Eagle ordinary share on September 13, being the last trading day prior to this announcement," Coburg said in a statement.
Coburg shares were Monday quoted at 47 pence, down 8 pence, or 15%.
African Eagle shares were Monday quoted at 0.251 pence, down 0.049 pence, or 16.3%.
By Samuel Agini; [email protected]; @samuelagini
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