Issue of Equity

RNS Number : 8464I

Sunrise Resources Plc

30 July 2012

 



SUNRISE RESOURCES PLC 

Directors' Share Issue and Total Voting Rights

30 July 2012

Issue of new ordinary shares

Sunrise Resources plc, (ticker symbol 'SRES'), the AIM-quoted diversified mineral exploration and development specialist ("the Company"), announces that on 27 July 2012 the Board of Company resolved to issue 1,386,203 new ordinary shares of 0.1 pence each in the Company to its directors in lieu of net fees for the six month period ended 30 June 2012. The issue of shares to Directors in lieu of fees is in line with current Company practice and enables the Company to keep its cost base to a minimum, preserving cash for exploration activities.

The following shares have been issued:

Director name	Number of new shares issued	Interest in enlarged issued share capital	% of enlarged issued share capital
Patrick Cheetham	508,009	*11,673,386	3.20%
Francis Johnstone	763,908	3,853,321	1.06%
David Swan	114,286	114,286	0.03%

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

In each case, the new ordinary shares were issued at a price of 0.7 pence per share, being the closing mid-market price of the ordinary shares on the 26 July 2012.

Application will be made for the 1,386,203 new ordinary shares to be admitted to trading on AIM and admission is expected to occur on 6 August 2012.

Following admission, the Company's enlarged issued share capital will comprise 365,251,117 ordinary shares with one voting right per share. There are no shares held in treasury and the total number of voting rights in the Company is therefore 365,251,117.

This figure of 365,251,117 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 FSA's Disclosure and Transparency Rules.

Enquiries: Sunrise Resources plc Patrick Cheetham, Executive Chairman	Tel:  [phone]
Northland Capital Partners Limited Gavin Burnell / Rod Venables             John-Henry Wicks / John Howes (Sales)	Tel: [phone]
Yellow Jersey PR Limited Dominic Barretto / Harry Felder	Tel:  [phone] Tel:  [phone]

Note to Editors:

Sunrise Resources plc ('SRES') is a British-led diversified mineral exploration and development specialist. 

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 evaluating a product opportunity for white barite in south-west Ireland and has an exploration portfolio including diamond exploration interests in Finland and Western Australia.

Shares in the Company trade on AIM under the symbol "SRES".

For further information: www.sunriseresourcesplc.com

 

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