African Eagle Resources PLC (03912362): administration
- Status
- Administration ended
- Administration began
- 2016-01-19
- Administrators' firm
- Willams & Partners
- Formerly
- Twigg Minerals PLC
- Incorporated
- 2000-01-19
- Location
- Borehamwood
- Industry
- 08990 Other mining and quarrying n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company's Interests are as follows
The Company currently owns 10% of the total share capital of Blackdown Minerals Limited ("Minerals"), previously the Company owned the whole of the asset contained in Minerals and following a restructuring, this new entity was created
A sale of 90% of the share capital was undertaken in August 2013 to Blackdown Resources (UK) Limited for $100,000 The Company retained a 10% free carry in the assets (and anti dilution rights) until $20 Million had been incurred In August 2013 the Company was reclassified as an investing Company under AIM rules
Administrators' statement of proposals (2016-03-15) · Companies House register