African Eagle Resources plc : Winding Up Petition

 African Eagle ("African Eagle" or the "Company") (AIM: AFE; AltX: AEA) announces that a winding up petition against the Company (the "Petition") has been issued.

The Petition has been served by Mr Euan Worthington (the "Petitioner"), the former Chairman of African Eagle, who resigned from his position on 24 April 2012. The Petitioner claims that he is owed £57,005.09 by the Company and the Petition is listed to be heard on 29 July 2013.  

The Company is seeking detailed legal advice relating to the Petition, but its current intent is to contest the Petition, if it is appropriate to do so. Shareholders should be aware that, in the event that a winding up order is made at the hearing of the Petition, the Company will, at that point, be placed into liquidation.

A further announcement will be made following the Petition hearing, or earlier, if appropriate.

Enquiries:

African Eagle Resources plc
Trevor Moss, CEO
+44 20 7248 6059

Strand Hanson Limited (NOMAD)
Stuart Faulkner
Angela Hallett
James Dance
+ 44 20 7409 3494

Ocean Equities Limited (Broker)
Guy Wilkes
+44 20 7786 4370

Russell & Associates, Johannesburg
Charmane Russell
Marion Brower
+27 11 880 3924

A copy of this announcement will be available on the Company's website at www.africaneagle.co.uk as soon as possible. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.