Director Dealing, Issue of Equity, TVR

RNS Number : 8145D

Sunrise Resources Plc

30 October 2020

 

30 October 2020

SUNRISE RESOURCES PLC

(the "Company")

Director Dealing, Issue of Equity , 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 pursuant to terms 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.

On Friday 30 October 2020, the Board resolved to issue a total of 6,772,459 new Ordinary Shares to the directors, in settlement of a portion of outstanding net fees, for the six-month period ended 30 September 2020. The Ordinary Shares were issued at a price of 0.24 pence per share, being the closing mid-market price on AIM on Thursday 29 October 2020.

The following table shows the number of new 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*	1,666,667	232,714,324	6.32
David Swan	1,917,875	31,199,213	0.85
Roger Murphy	3,187,917	52,137,740	1.41

* includes 5,500,000 shares held by K E Cheetham, wife of P Cheetham.

Application will be made to the London Stock Exchange for 6,772,459 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 Thursday 5 November 2020.

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 3,684,769,329 Ordinary Shares.

The above figure of 3,684,769,329 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:	[phone]
Beaumont Cornish Limited Nominated Adviser James Biddle/Roland Cornish	Tel:	[phone]
Peterhouse Capital Broker Lucy Williams/Duncan Vasey	Tel:	[phone]

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 )	N a me	Patrick Cheetham
2	Reasonforthenotification
a )	Position / s t a tus	Executive Chairman
b)	Initialnotification / Amendment	Initial notification
3	Details  of  the  issuer,   emission   allowance  market   participant, auction   platform, auctioneer orauctionmonitor
a )	Name	Sunrise Resources plc
b)	LEI	213800MGDOE974QHPZ44
4	Detailsofthetransaction(s): section toberepeated  for (i) eachtypeofinstrument; (ii)eachtypeoftransaction; (iii) eachdate; and (iv)eachplacewheretransactions havebeenconducted
a )	Description of the fina n cial  instrume n t , type ofins t rument	Ordinary Shares of 0.1p each
	Identificationcode	GB00B075Z681
b)	Natureoft h etransact i o n	Issue of new Ordinary Shares in settlement of a portion of their outstanding fees
c)	Price(s)a n d vo l ume (s)	Price(s)	Vo l ume (s)
		0.24 pence	1,666,667
d)	Aggregated information - Aggregated volume  - Price	N/A (Single transaction)
e)	Date of the transaction	30/10/2020  10:45 UTC
f)	Place of the transaction	Outside a trading venue (XOFF)

1	Details  of  the  person   discharging  managerial   responsibilities I person closely associated
a )	N a me	David Swan
2	Reasonforthenotification
a )	Position / s t a tus	Senior Non-executive director
b)	Initialnotification / Amendment	Initial notification
3	Details  of  the  issuer,   emission   allowance  market   participant, auction   platform, auctioneer orauctionmonitor
a )	Name	Sunrise Resources plc
b)	LEI	213800MGDOE974QHPZ44
4	Detailsofthetransaction(s): section toberepeated  for (i) eachtypeofinstrument; (ii)eachtypeoftransaction; (iii) eachdate; and (iv)eachplacewheretransactions havebeenconducted
a )	Description of the fina n cial  instrume n t , type ofins t rument	Ordinary Shares of 0.1p each
	Identificationcode	GB00B075Z681
b)	Natureoft h etransact i o n	Issue of new Ordinary Shares in settlement of a portion of their outstanding fees
c)	Price(s)a n d vo l ume (s)	Price(s)	Vo l ume (s)
		0.24 pence	1,917,875
d)	Aggregated information - Aggregated volume  - Price	N/A (Single transaction)
e)	Date of the transaction	30/10/2020  10:45 UTC
f)	Place of the transaction	Outside a trading venue (XOFF)

1	Details  of  the  person   discharging  managerial   responsibilities I person closely associated
a )	N a me	Roger Murphy
2	Reasonforthenotification
a )	Position / s t a tus	Non-executive director
b)	Initialnotification / Amendment	Initial notification
3	Details  of  the  issuer,   emission   allowance  market   participant, auction   platform, auctioneer orauctionmonitor
a )	Name	Sunrise Resources plc
b)	LEI	213800MGDOE974QHPZ44
4	Detailsofthetransaction(s): section toberepeated  for (i) eachtypeofinstrument; (ii)eachtypeoftransaction; (iii) eachdate; and (iv)eachplacewheretransactions havebeenconducted
a )	Description of the fina n cial  instrume n t , type ofins t rument	Ordinary Shares of 0.1p each
	Identificationcode	GB00B075Z681
b)	Natureoft h etransact i o n	Issue of new Ordinary Shares in settlement of a portion of their outstanding fees
c)	Price(s)a n d vo l ume (s)	Price(s)	Vo l ume (s)
		0.24 pence	3,187,917
d)	Aggregated information - Aggregated volume  - Price	N/A (Single transaction)
e)	Date of the transaction	30/10/2020  10:45 UTC
f)	Place of the transaction	Outside a trading venue (XOFF)

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).

 

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