Last checked at 9 Sep 2008 07:00
09 September 2008
Sunrise Diamonds Plc
('SDS' or 'the Company')
Placing
Sunrise Diamonds Plc announces that it has raised £250,000 before expenses by way of a placing of 41,666,666 new ordinary shares of 0.1pence each at 0.6pence per share which have been conditionally placed. The new ordinary shares will represent 22.60% of the enlarged issued share capital of the Company. The placing is conditional, inter alia, on the new ordinary shares being admitted to trading on AIM for which application is being made. Admission of the new ordinary shares to trading is expected to occur on or around 15 September 2008. The placing shares will rank pari passu with the existing ordinary shares in issue and increase the number of ordinary shares in issue to 184,394,673
Mrs K Cheetham acquired 2,500,000 new ordinary shares in the placing and therefore Patrick Cheetham will be interested in 8,700,000 ordinary shares of 0.1p each (including 5,500,000 held by Mrs K Cheetham) immediately following the placing.
The net proceeds of the placing will be used for general working capital purposes and for further diamond exploration work.
For further information:
Patrick Cheetham, Sunrise Diamonds plc. Tel: + 44 (0) 1625 505947
Gavin Burnell, Ruegg & Co Limited Tel: + 44 (0) 20 7584 3663