Last checked at 15 Apr 2020 13:25
15 April 2020
SUNRISE RESOURCES PLC
(the "Company")
Issue of Equity and 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 the Company's joint broker, Peterhouse Capital Limited ("Peterhouse") will be receiving settlement of its fees for the period 1 April 2020 to 31 December 2020 in Ordinary Shares of 0.1 pence each in the Company ("Ordinary Shares"), calculated with reference to the closing bid-price on 14 April 2020, the trading day prior to the issue of the Ordinary Shares. This enables the Company to preserve cash for its project activities.
On Wednesday 15 April 2020, the Board resolved to issue a total of 17,550,000 new Ordinary Shares to Peterhouse at a price of 0.1 pence per share, being the closing market bid-price on Tuesday 14 April 2020.
Application will be made to the London Stock Exchange for 17,550,000 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 Tuesday 21 April 2019.
Total Voting Rights
For the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Board of Sunrise hereby notifies the market that further to Admission, the Company's issued share capital will consist of 3,313,680,055 ordinary shares with a nominal value of 0.1p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of Ordinary Shares in the Company with voting rights will be 3,313,680,055. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Commenting today Sunrise Executive Chairman Patrick Cheetham said: " Having raised funds of £550,000 with Peterhouse in recent months the Company has sufficient cash for its foreseeable needs and for the completion of mine permitting. However, during the current Covid-19 pandemic it seems prudent to preserve cash for our project activities wherever possible and we are pleased that Peterhouse is making this clear statement of support for the Company."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: +44 (0)1625 838 884 |
Beaumont Cornish Limited Nominated Adviser and Joint Broker James Biddle/Roland Cornish | Tel: +44 (0)207 628 3396 |
Peterhouse Capital Limited Joint Broker Lucy Williams/Duncan Vasey | Tel: +44 (0)207 469 0930 |
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).