Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSunrise Res Regulatory News (SRES)

Share Price Information for Sunrise Res (SRES)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.0475
Bid: 0.045
Ask: 0.05
Change: 0.00 (0.00%)
Spread: 0.005 (11.111%)
Open: 0.0475
High: 0.0475
Low: 0.0475
Prev. Close: 0.0475
SRES Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Director Dealing, Issue of Equity & Warrants, TVR

6 Aug 2020 11:00

RNS Number : 3694V
Sunrise Resources Plc
06 August 2020
 

 

6 August 2020

 

SUNRISE RESOURCES PLC

(the "Company")

 

Director Dealing, Issue of Equity & Warrants, Total Voting Rights

 

Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, wishes to announce as follows:

 

Issue of Fee Shares

 

Pursuant to terms agreed on 20 August 2008, 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. This enables the Company to preserve cash for its project activities.

 

Consequently, on Wednesday 5 August 2020, the Board resolved to issue a total of 7,173,959 new Ordinary Shares to the directors, in settlement of a portion of their outstanding net fees, for the six-month period ended 31 March 2020 ("the Fee Shares"). The Fee Shares were issued at a price of 0.195 pence per share, being the closing mid-market price of the Company's Ordinary Shares on AIM on Tuesday 4 August 2020.

 

The following table shows the number of Fee Shares issued to the directors and their total holdings following the issue of the Fee Shares:

 

Director

Number of Ordinary Shares issued

Total interest in Ordinary Shares following Admission

% of Company's issued share capital following Admission

Patrick Cheetham*

1,975,713

231,047,657*

6.96

David Swan

1,907,046

29,281,338

0.88

Roger Murphy

3,291,200

48,949,823

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 the Fee 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 Wednesday 12 August 2020.

 

Total Voting Rights

 

In accordance with Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following the issue and Admission of the Fee Shares, the total issued share capital of the Company with voting rights will be 3,320,854,014 Ordinary Shares.

 

The above figure of 3,320,854,014 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.

 

Issue of Employee Warrants

 

Also on Wednesday 5 August 2020 the Board resolved to issue warrants to subscribe for Ordinary Shares in the Company as follows:

 

(a) a total of 5,000,0000 warrants over new Ordinary Shares, representing 0.15% of the Company's issued share capital after issue of the Fee Shares, to employees of Tertiary Minerals plc ("Tertiary") working on the Company's behalf and to a non-executive director of the Company in connection with their remuneration as follows:

 

Grantee

No. of Warrants

Warrant exercise price (pence per share)

Tertiary Employees (4)

(Total of) 3,000,000

0.195

 

Non-Executive Director

Mr. Roger Murphy

2,000,000

0.195

 

The Warrant exercise price has been calculated by reference to the closing mid-market price on 4 August 2020 being 0.195 pence. Each warrant entitles the holder to subscribe for one Ordinary Share in the Company at their respective warrant exercise prices at any time within 4 years from 5 August 2021.

 

(b) a total of 30 million warrants over new Ordinary Shares representing 0.90% of the Company's issued share capital after issue of the Fee Shares to the Executive Chairman of the Company, Patrick Cheetham, in connection with a remuneration incentive scheme proposed by the Remuneration Committee and agreed by the Board. These warrants will again have an exercise price of 0.195 pence. Each warrant entitles the holder to subscribe for one Ordinary Share in the Company at the warrant exercise price after vesting and within 4 years from 5 August 2021. 15,000,000 of these warrants will vest after one year and 15,000,000 warrants will vest on the Company making the first sustainable sales of perlite/pozzolan product from the CS Project and all will vest in the event of a change in control of the Company.

 

This brings the total warrants and options in issue in the Company to 75,090,909, representing 2.26% of the Company's enlarged issued share capital.

 

Market Abuse Regulation

 

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further details on the issue of warrants.

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.

 

1.

Details of the person discharging managerial responsibilities/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:

Identification code:

Ordinary Shares of 0.1p each

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)

0.195 pence

1,975,713

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

0.195 pence

1,975,713

 

e)

Date of the transaction:

5 August 2020

11:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

David Swan

2.

Reason for the notification

a)

Position/status:

Senior Non-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:

Identification code:

Ordinary Shares of 0.1p each

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)

0.195 pence

1,907,046

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

0.195 pence

1,907,046

 

e)

Date of the transaction:

5 August 2020

11:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/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:

Identification code:

Ordinary Shares of 0.1p each

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)

0.195 pence

3,291,200

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

0.195 pence

3,291,200

e)

Date of the transaction:

5 August 2020

11:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Judith Hayes

2.

Reason for the notification

a)

Position/status:

Administration Manager, Tertiary Minerals plc

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:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.1p each

 GB00B075Z681 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.195 pence

750,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.195 pence

750,000 warrants

 

e)

Date of the transaction:

5 August 2020

11:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Sondra Pyrch

2.

Reason for the notification

a)

Position/status:

Management Accountant, Tertiary Minerals plc

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:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.1p each

GB00B075Z681 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.195 pence

750,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.195 pence

750,000 warrants

 

e)

Date of the transaction:

5 August 2020

11:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Jaelithe Talboom

2.

Reason for the notification

a)

Position/status:

Business Assistant, Tertiary Minerals plc

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:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.1p each

 GB00B075Z681 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.195 pence

750,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.195 pence

750,000 warrants

 

e)

Date of the transaction:

5 August 2020

11:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Joel Cheetham

2.

Reason for the notification

a)

Position/status:

Data Manager, Tertiary Minerals plc

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:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.1p each

 GB00B075Z681 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.195 pence

750,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.195 pence

750,000 warrants

 

e)

Date of the transaction:

5 August 2020

11:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/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:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.1p each

 GB00B075Z681 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.195 pence

2,000,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.195 pence

2,000,000 warrants

 

e)

Date of the transaction:

5 August 2020

11:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/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:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.1p each

GB00B075Z681 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.195 pence

30,000,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.195 pence

30,000,000 warrants

 

e)

Date of the transaction:

5 August 2020

11:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

 

Further information:

 

Sunrise Resources plc

Patrick Cheetham, Executive Chairman

Tel:

+44 (0)1625 838 884

Beaumont Cornish

Nominated Adviser

James Biddle/Roland Cornish

 

Tel:

+44 (0) 207 628 3396

 

Peterhouse Capital Limited

Broker

Lucy Williams/Duncan Vasey

Tel:

+44 (0) 207 469 0930

 

 

Notes to Editors:

 

Sunrise Resources plc is working towards the development of profitable mining operations at the CS Pozzolan-Perlite Project in Nevada, USA and to unlock the value inherent in its diverse portfolio of industrial minerals, precious metals and base metal projects.

 

 

Shares in the Company trade on AIM. EPIC: "SRES". Website: www.sunriseresourcesplc.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCGCGDIRDGDGGL
Date   Source Headline
28th Mar 20247:00 amRNSTotal Voting Rights
7th Mar 202411:20 amRNSDIRECTOR DEALING
5th Mar 20247:00 amRNSIssue of Shares following Conversion & TVR
29th Feb 202410:11 amRNSTotal Voting Rights
23rd Feb 202412:27 pmRNSDIRECTOR DEALING, ISSUE OF EQUITY & TVR
23rd Feb 202411:35 amRNSVoting at AGM
22nd Feb 202412:32 pmRNSResult of AGM
26th Jan 202410:00 amRNSANNUAL REPORT AND NOTICE OF 2024 AGM
24th Jan 20247:00 amRNSFinal Results
18th Jan 20247:00 amRNSPioche Sepiolite Project
27th Dec 202310:31 amRNSPioche Sepiolite Project
4th Dec 20231:55 pmRNSGarfield Royalty Interest
1st Dec 20237:00 amRNSInvestor Presentation
22nd Nov 20239:51 amRNSResult of Meeting
7th Nov 20237:00 amRNSProposed Sub-Division of Share Capital
31st Oct 20237:00 amRNSReese Ridge Zinc-Lead-Silver (-Gallium) Project
27th Sep 20237:00 amRNSPioche Project Update
15th Sep 20237:00 amRNSMarket Study and Pozzolan Project Update
31st Aug 20236:09 pmRNSTotal Voting Rights
11th Aug 202312:51 pmRNSIssue of Shares following Conversion & TVR
11th Aug 202312:45 pmRNSISSUE OF WARRANTS
3rd Aug 20234:20 pmRNSHolding(s) in Company
25th Jul 20237:00 amRNSPioche Resource Drilling Programme in Progress
4th Jul 202312:38 pmRNSIssue of Equity & TVR
29th Jun 20237:00 amRNSReese Ridge Project Update
12th Jun 20237:00 amRNSPioche Project Update
8th Jun 202312:16 pmRNSDIRECTOR DEALING, ISSUE OF EQUITY & TVR
5th Jun 20237:00 amRNSAdditional £200,000 Investment
31st May 202311:46 amRNSHalf-year Report
23rd May 20237:00 amRNSNatural Pozzolan Association Symposium
4th May 20233:34 pmRNSTotal Voting Rights
26th Apr 20237:00 amRNSPioche Project Update
14th Apr 202311:52 amRNSHolding(s) in Company
6th Apr 202312:38 pmRNSIssue of Equity & TVR
24th Mar 20237:00 amRNSISSUE OF WARRANTS
15th Mar 20237:00 amRNSNEW MINING CLAIMS: REESE RIDGE PROJECT
17th Feb 202311:57 amRNSResult of AGM
17th Feb 20237:00 amRNSAGM Chairman’s Statement
17th Jan 20239:19 amRNSDIRECTOR DEALING, ISSUE OF EQUITY & TVR
9th Jan 20237:00 amRNSPioche claims update
22nd Dec 20227:00 amRNSAnnual Report and Notice of AGM
21st Dec 20227:00 amRNSTolsa maintain option to acquire Sepiolite Project
13th Dec 20229:23 amRNSAudited Results for the year to 30 September 2022
7th Dec 20221:54 pmRNSIssue of Convertible Security
30th Nov 20227:00 amRNS£480,000 Investment, Issue of Equity & TVR
22nd Nov 202211:55 amRNSHolding(s) in Company
25th Oct 20227:00 amRNSUpdate - Pioche Sepiolite Project
12th Oct 20227:00 amRNSBulk Sampling - Hazen Pozzolan Project, Nevada
2nd Sep 20227:00 amRNSUpdate - Pioche Sepiolite Project
31st Aug 20224:30 pmRNSTotal Voting Rights

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.