Last checked at 22 Nov 2019 15:58
22 November 2019
SUNRISE RESOURCES PLC
(the "Company")
Director Dealing, Issue of Equity, Total Voting Rights
Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, announces that pursuant to terms agreed on 20 August 2008, and in order for the Company to preserve cash for its project activities, the directors of the Company will be receiving settlement of a portion of their outstanding fees in Ordinary Shares of 0.1 pence each in the Company ("Ordinary Shares"), calculated with reference to the closing mid-market price on the trading day prior to the issue of the Ordinary Shares.
On Friday 22 November 2019, the Board resolved to issue a total of 14,551,565 new Ordinary Shares to the directors, in settlement of outstanding net fees, for the six-month period ended 30 September 2019. The Ordinary Shares were issued at a price of 0.115 pence per share, being the closing mid-market price on AIM on Thursday 21 November 2019.
The following table shows the number of new Ordinary Shares issued to the directors and their total holdings following the issue of the Ordinary Shares:
Director
| Number of Ordinary Shares issued | Total interest in Ordinary Shares following Admission | % of Company's issued share capital following Admission |
Patrick Cheetham* | 3,478,261 | 229,071,944 | 7.36 |
David Swan | 4,116,782 | 27,374,292 | 0.88 |
Roger Murphy | 6,956,522 | 45,658,623 | 1.47 |
* includes 5,500,000 shares held by K E Cheetham, wife of P Cheetham.
Application will be made to the London Stock Exchange for 14,551,565 Ordinary Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission"), and it is expected that Admission will occur on or around Friday 29 November 2019.
Total Voting Rights
In accordance with Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following the issue and Admission, the total issued share capital of the Company with voting rights will be 3,114,311,873 Ordinary Shares.
The above figure of 3,114,311,873 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the DTRs.
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: | +44 (0)1625 838 884 |
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Beaumont Cornish Limited Nominated Adviser & Broker James Biddle/Roland Cornish
| Tel: |
+44 (0)207 628 3396
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Peterhouse Capital Joint Broker Lucy Williams/Duncan Vasey | Tel: |
+44 (0)207 469 0930 |
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Market Abuse Regulation
The information set out below is provided in accordance with the requirements of Article 19(3) of Regulation (EU) No.596/2014 of the European Parliament and of the Council.
1 | Details of the person discharging managerial responsibilities I person closely associated | ||
a) | Name | Patrick Cheetham | |
2 | Reason for the notification | ||
a) | Position/status | Executive Chairman | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Sunrise Resources plc | |
b) | LEI | 213800MGDOE974QHPZ44 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument
| Ordinary Shares of 0.1p each | |
Identification code | GB00B075Z681 | ||
b) | Nature of the transaction | Issue of new Ordinary Shares in settlement of a portion of their outstanding fees | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
0.115 pence | 3,478,261 | ||
d) | Aggregated information - Aggregated volume - Price
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N/A (Single transaction)
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e) | Date of the transaction | 22/11/2019 11.25 UTC
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f) | Place of the transaction | Outside a trading venue (XOFF)
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1 | Details of the person discharging managerial responsibilities I person closely associated | ||
a) | Name | David Swan | |
2 | Reason for the notification | ||
a) | Position/status | Senior Non-executive director | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Sunrise Resources plc | |
b) | LEI | 213800MGDOE974QHPZ44 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument
| Ordinary Shares of 0.1p each | |
Identification code | GB00B075Z681 | ||
b) | Nature of the transaction | Issue of new Ordinary Shares in settlement of a portion of their outstanding fees | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
0.115 pence | 4,116,782 | ||
d) | Aggregated information - Aggregated volume - Price
| N/A (Single transaction)
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e) | Date of the transaction | 22/11/2019 11.25 UTC
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f) | Place of the transaction | Outside a trading venue (XOFF) | |
1 | Details of the person discharging managerial responsibilities I person closely associated | ||
a) | Name | Roger Murphy | |
2 | Reason for the notification | ||
a) | Position/status | Non-executive director | |
b) | Initial notification /Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Sunrise Resources plc | |
b) | LEI | 213800MGDOE974QHPZ44 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument
| Ordinary Shares of 0.1p each | |
Identification code | GB00B075Z681 | ||
b) | Nature of the transaction | Issue of new Ordinary Shares in settlement of a portion of their outstanding fees | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
0.115 pence | 6,956,522 | ||
d) | Aggregated information - Aggregated volume - Price
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N/A (Single transaction)
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e) | Date of the transaction | 22/11/2019 11.25 UTC
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f) | Place of the transaction | Outside a trading venue (XOFF) | |
About Sunrise Resources plc
The Company's objective is to develop profitable mining operations at the CS Pozzolan-Perlite Project in Nevada, USA and unlock the value inherent in our diverse portfolio of industrial minerals, precious metals and base metal projects.
Shares in the Company trade on AIM under the symbol "SRES" and also on the NEX Exchange (Secondary Market).