Last checked at 5 Aug 2016 14:00
(the "Company")
Director Dealing, Issue of Equity, Total Voting Rights
Sunrise Resources plc (ticker symbol 'SRES'), the AIM-quoted diversified mineral exploration and development company ("the Company"), announces that pursuant to terms agreed on 20 August 2008, the directors of the Company will be receiving their net fees in Ordinary Shares of 0.1 pence each in the Company ("Ordinary Shares"), on a six monthly ongoing basis, 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 exploration activities.
On 5 August 2016, the Board resolved to issue a total of 3,705,949 Ordinary Shares to the directors, in lieu of net fees, for the period ended 30 June 2016. The Ordinary Shares were issued at a price of 0.215 pence per share, being the closing mid-market price on 4 August 2016.
The following table shows the number of 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 | 1,395,349 | *75,776,599 | 6.77% |
David Swan | 1,674,419 | 8,710,863 | 0.78% |
Roger Murphy | 636,181 | 17,302,848 | 1.55% |
* includes 5,500,000 shares held by K E Cheetham, wife of P Cheetham.
Application will be made to the London Stock Exchange for 3,705,949 Ordinary Shares to be admitted to trading on AIM ("Admission"), and it is expected that Admission will occur on or around 11 August 2016.
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 1,119,910,379 ordinary shares.
The above figure of 1,119,910,379 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 |
|
|
|
Northland Capital Partners Limited Nominated Adviser & Broker Edward Hutton/David Hignell John Howes/Rob Rees
| Tel: | +44 (0)20 3861 6625
|
Beaufort Securities Limited Joint Broker Jon Belliss | Tel: | +44 (0)20 7382 8300 |
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 lieu of net fees | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
0.215 pence | 1,395,349 | ||
d) | Aggregated information - Aggregated volume - Price
|
Volume: 1,395,349 Price: 0.215 pence
| |
e) | Date of the transaction | 2016-08-05 11:05 UTC
| |
f) | Place of the transaction | Outside of trading venue | |
1 | Details of the person discharging managerial responsibilities I person closely associated | ||
a) | Name | David Swan | |
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 lieu of net fees | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
0.215 pence | 1,674,419 | ||
d) | Aggregated information - Aggregated volume - Price
|
Volume: 1,674,419 Price: 0.215 pence | |
e) | Date of the transaction | 2016-08-05
11:05 UTC
| |
f) | Place of the transaction | Outside of trading venue | |
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 lieu of net fees | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
0.215 pence | 636,181 | ||
d) | Aggregated information - Aggregated volume - Price
|
Volume: 636,181 Price: 0.215 pence | |
e) | Date of the transaction | 2016-08-05 11:05 UTC
| |
f) | Place of the transaction | Outside of trading venue | |
Notes:
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No.596/2014 of the European Parliament and of the Council.
Notes to Editors:
About Sunrise Resources plc
Sunrise Resources plc is an AIM-traded diversified mineral exploration and development company. The Company's objective is to develop profitable mining operations to sustain the Company's wider exploration efforts and create value for shareholders through the discovery of world-class deposits.
The Company is exploring a number of precious metal, base metal and industrial mineral projects in Nevada, USA. The Company holds a royalty interest from EP Minerals in a diatomite project in Nevada and holds a white barite project in South-West Ireland. The Company also holds diamond and gold exploration interests in Western Australia.
Shares in the Company trade on AIM. EPIC: "SRES"
Website: www.sunriseresourcesplc.com