Issue of Equity

RNS Number : 5880U

Sunrise Resources Plc

30 July 2015

 

30 July 2015

Share Issue &Total Voting Rights

Sunrise Resources plc (ticker symbol 'SRES'), the AIM-quoted diversified mineral exploration and development company ("the Company"), announces that on 29 July 2015 the Board of the Company resolved to issue 4,533,333 new ordinary shares of 0.1 pence each in the Company (the "New Ordinary Shares") to its directors in lieu of net fees for the six month period ended 30June 2015. The issue of New Ordinary 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 its exploration activities.

The New Ordinary Shares were issued at a price of 0.225 pence per share, being the closing mid-market price of the ordinary shares on 28 July 2015.

The following table shows the number of New Ordinary Shares issued to directors and their total holdings following the issue of New Ordinary Shares now being announced:

Director name	Number of ordinary shares issued	Interest in enlarged issued share capital	% of enlarged issued share capital
Patrick Cheetham	1,600,000	*22,725,951	3.29%
Francis Johnstone	1,333,333	8,226,412	1.19%
David Swan	1,600,000	5,081,944	0.74%

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

Application will be made for the New Ordinary Shares to be admitted to trading on AIM and admission is expected to occur on 5 August 2015.

Following admission, the Company's enlarged issued share capital will comprise 691,148,682 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 691,148,682.

Total Voting Rights

This figure of 691,148,682 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.

Further information:

Sunrise Resources plc Patrick Cheetham, Executive Chairman	Tel:	[phone]
Northland Capital Partners Limited Edward Hutton/David Hignell John Howes/Mark Treharne (Broking) Dr Ryan Long (Research)	Tel:	[phone]

Notes to Editors:

About Sunrise Resources plc

Sunrise Resources plc is an AIM-quoted 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 has diamond and gold exploration interests in Western Australia and has staked claims and acquired leases over a number of projects in Nevada, USA, most recently at the Junction Gold Project.

The Company also holds diamond exploration interests in Finland and a white barite project in South-West Ireland.

Shares in the Company trade on AIM. EPIC: "SRES" www.sunriseresourcesplc.com

 

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