DIRECTOR DEALING, ISSUE OF EQUITY & TVR

Sunrise Resources Plc

23 February 2024

 

23 February 2024

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

DIRECTOR DEALING, ISSUE OF EQUITY & TOTAL VOTING RIGHTS

Sunrise Resources plc 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 again be receiving settlement of a portion of their outstanding fees in ordinary shares of 0.001 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. The Company is also settling a portion of fees payable to a supplier in Ordinary Shares at the same price.

Yesterday, 22 February 2024, the Board resolved to issue a total of 55,252,000 Ordinary Shares (the "New Ordinary Shares") being 27,474,222 New Ordinary Shares to be issued to the directors in settlement of a portion of outstanding net fees, for the seven-month period ended 31 October 2023, and 27,777,778 New Ordinary Shares to be issued to Mining and Metals Research Corporation.

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*	3,047,556	258,832,572	6.24
Roger Murphy	12,213,333	90,999,010	2.19
James Cole	12,213,333	32,768,986	0.79

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

The New Ordinary Shares were issued at a price of 0.045 pence per share, being the closing mid-market price on AIM on Tuesday 21 February 2024.

Application will be made to the London Stock Exchange for 55,252,000 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 Thursday 29 February 2024.

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 4,150,314,030 Ordinary Shares.

The above figure of 4,150,314,030 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 Limited Broker Lucy Williams/Duncan Vasey	Tel: [phone]

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 0.001p 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)
		0.045 pence	3,047,556
d)	Aggregated information - Aggregated volume - Price	N/A (Single transaction)
e)	Date of the transaction	22/02/2024 13:00 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 0.001p 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)
		0.045 pence	12,213,333
d)	Aggregated information - Aggregated volume - Price	N/A (single issue of shares in lieu of fees as in 4 c) above)
e)	Date of the transaction	22/02/2024 13:00 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 0.001p 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)
		0.045 pence	12,213,333
d)	Aggregated information - Aggregated volume  - Price	N/A (single issue of shares in lieu of fees as in 4 c) above)
e)	Date of the transaction	22/02/2024 13:00 UTC
f)	Place of the transaction	Outside a trading venue (XOFF)

 

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