Issue of equity

RNS Number : 6681P

Sunrise Resources Plc

20 August 2014

 

20 August 2014

SUNRISE RESOURCES PLC

("the Company")

Issue of New Ordinary Shares & Total Voting Rights

Sunrise Resources plc, the AIM traded diversified mineral exploration and development company, announces that on 19 August 2014 the Board of the Company resolved to issue 1,709,055 new ordinary shares of 0.1 pence each in the Company to its Directors in respect of net fees payable for the six month period ended 30 June 2014. The issue of shares to Directors instead of cash is in line with current Company practice and enables the Company to preserve cash for exploration activities.

The new ordinary shares were issued at a price of 0.425 pence per share, being the closing mid-market price of the ordinary shares on 19 August 2014.

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 new shares issued	Interest in enlarged issued share capital	% of enlarged issued share capital
Patrick Cheetham	821,944	*19,355,675	3.85%
Francis Johnstone	614,273	5,943,748	1.18%
David Swan	272,838	2,423,522	0.48%

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

Application will be made for the 1,709,055 new ordinary shares to be admitted to trading on AIM and admission is expected to occur on 27 August 2014.

Following admission, the Company's enlarged issued share capital will comprise 503,325,932 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 503,325,932.

This figure of 503,325,932 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 FCA's Disclosure and Transparency Rules.

Further information:

Sunrise Resources plc Patrick Cheetham, Executive Chairman	Tel:	[phone]
Northland Capital Partners Limited Gavin Burnell/Edward Hutton Alice Lane/Charles Laughton (Broking)	Tel:	[phone]
Yellow Jersey PR Limited Dominic Barretto/Kelsey Traynor	Tel:	[phone]

About Sunrise Resources plc

Sunrise Resources plc is a diversified mineral exploration and development company. The Company has diamond exploration interests in Western Australia and Finland and holds a white barite project in South-West Ireland.

The Company has two gold exploration projects in Western Australia and has an active project programme to generate new exploration projects in Australia and Nevada, USA.

It has recently staked claims over the Strike Copper Project, the County Line Diatomite Project and the Garfield Gold-Silver-Copper Project in Nevada, USA.

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

 

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