Last checked at 9 Aug 2022 14:36
SUNRISE RESOURCES PLC
("Sunrise" or "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 New Ordinary Shares
Pursuant to terms first 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.
Yesterday, Monday 8 August 2022, the Board resolved to issue a total of 12,972,621 New Ordinary Shares to the directors, in settlement of a portion of outstanding net fees, for the six-month period ended 31 March 2022. The New Ordinary Shares were issued at a price of 0.1125 pence per share, being the closing mid-market price on AIM on Friday 5 August 2022.
The following table shows the number of New Ordinary Shares issued to the directors and their total holdings following the issue of the New Ordinary Shares:
Director
| Number of New Ordinary Shares issued | Total interest in Ordinary Shares following Admission | % of Company's issued share capital following Admission |
Patrick Cheetham* | 2,212,764 | 247,532,996 | 6.46 |
Roger Murphy | 6,121,031 | 65,093,787 | 1.70 |
James Cole | 4,638,826 | 6,863,763 | 0.18 |
* includes 5,500,000 shares held by K E Cheetham, wife of P Cheetham.
Application will be made to the London Stock Exchange for 12,972,621 New 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 Monday 15 August 2022.
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following the issue of the New Ordinary Shares and Admission, the total issued share capital of the Company with voting rights will be 3,833,559,087 Ordinary Shares.
The above figure of 3,833,559,087 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 Monday 8 August 2022, the Board resolved to issue warrants to subscribe for Ordinary Shares in the Company as part of a long-standing annual arrangement as follows:
A total of 8,000,0000 warrants over new Ordinary Shares, representing 0.21% of the Company's issued share capital after the issue of the New Ordinary Shares, to employees of Tertiary Minerals plc ("Tertiary") working on the Company's behalf and to the two non-executive directors of the Company in connection with their remuneration as follows:
Grantee | No. of Warrants | Warrant Exercise Price (pence per share) |
Tertiary Employees (3)
| (Total of) 3,000,000 | 0.1125 |
Non-Executive Director Roger Murphy | 2,500,000 | 0.1125 |
Non-Executive Director James Cole | 2,500,000 | 0.1125 |
The Warrant exercise price has been calculated by reference to the closing mid-market price on AIM on Friday 5 August 2022 being 0.1125 pence. Each warrant entitles the holder to subscribe for one new Ordinary Share in the Company at their respective warrant exercise prices at any time within the period of 4 years from 5 August 2023.
This brings the total warrants and options in issue in the Company to 168,750,000, representing 4.40% of the Company's enlarged issued share capital.
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: +44 (0)1625 838 884 |
Beaumont Cornish Limited Nominated Adviser James Biddle/Roland Cornish | Tel: +44 (0)207 628 3396 |
Market Abuse Regulation (MAR) Disclosure
The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR').
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 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 the director's outstanding fees | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
0.1125 pence | 2,212,764 | ||
d) | Aggregated information - Aggregated volume - Price
|
N/A (Single transaction)
| |
e) | Date of the transaction | 08/08/2022 13:30 UTC
| |
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 the director's outstanding fees & grant of Warrants | |
c) | Price(s) and volume(s) | 1. Shares in Lieu of Fees | |
Price(s) | Volume(s) | ||
0.1125 pence | 6,121,031 | ||
2. Grant of Warrants | |||
Price(s) | Volume(s) | ||
Exercise price of 0.1125 pence | 2,500,000 warrants | ||
d) | Aggregated information - Aggregated volume - Price
| N/A (single issue of shares in lieu of fees and single issue of Warrants as in 4 c) above) | |
e) | Date of the transaction | 08/08/2022 13:30 UTC
| |
f) | Place of the transaction | Outside a trading venue (XOFF) | |
1 | Details of the person discharging managerial responsibilities I person closely associated | ||
a) | Name | James Cole | |
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 the director's outstanding fees & grant of Warrants | |
c) | Price(s) and volume(s) | 1. Shares in Lieu of Fees | |
Price(s) | Volume(s) | ||
0.1125 pence | 4,638,826 | ||
2. Grant of Warrants | |||
Price(s) | Volume(s) | ||
Exercise price of 0.1125 pence | 2,500,000 warrants | ||
d) | Aggregated information - Aggregated volume - Price
| N/A (single issue of shares in lieu of fees and single issue of Warrants as in 4 c) above) | |
e) | Date of the transaction | 08/08/2022 13:30 UTC
| |
f) | Place of the transaction | Outside a trading venue (XOFF) | |
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): |
| ||||
d) | Aggregated information: Aggregated volume: Price: | N/A (Single transaction as in 4 c) above) | ||||
e) | Date of the transaction: | 08/08/2022 13:30 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: | Office 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): |
| ||||
d) | Aggregated information: Aggregated volume: Price: | N/A (Single transaction as in 4 c) above)
| ||||
e) | Date of the transaction: | 08/08/2022 13:30 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: | Project Manager, Permitting & GIS, 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): |
| ||||
d) | Aggregated information: Aggregated volume: Price: | N/A (Single transaction as in 4 c) above)
| ||||
e) | Date of the transaction: | 08/08/2022 13:30 UTC | ||||
f) | Place of the transaction: | Outside a trading venue | ||||