Director Dealing and Issue of Equity

RNS Number : 2465V

Sunrise Resources Plc

01 November 2017

 

1 November 2017

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, the directors of the Company will be receiving their net 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. This enables the Company to preserve cash for its exploration activities.

On Tuesday 31 October 2017, the Board resolved to issue a total of 6,802,353 Ordinary Shares to the directors, in lieu of net fees, for the six month period ended 30 September 2017. The Ordinary Shares were issued at a price of 0.17 pence per share, being the closing mid-market price on AIM on Monday 30 October 2017.

The following table shows the number of 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	1,764,706	81,506,032	4.50
David Swan	2,117,647	14,980,510	0.83
Roger Murphy	2,920,000	26,411,621	1.46

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

Application will be made to the London Stock Exchange for 6,802,353 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 7 November 2017.

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 1,810,818,020 Ordinary Shares.

The above figure of 1,810,818,020 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]
Northland Capital Partners Limited Nominated Adviser & Broker Edward Hutton/David Hignell John Howes/Rob Rees	Tel:	[phone]
Beaufort Securities Limited Joint Broker Jon Belliss	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)	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 0.1p each
	Identification code	GB00B075Z681
b)	Nature of the transaction	Issue of new Ordinary Shares in lieu of net fees
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		0.17 pence	1,764,706
d)	Aggregated information - Aggregated volume  - Price	N/A (Single transaction)
e)	Date of the transaction	2017- 10 -31  10:00 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	David Swan
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 0.1p each
	Identification code	GB00B075Z681
b)	Nature of the transaction	Issue of new Ordinary Shares in lieu of net fees
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		0.17 pence	2,117,647
d)	Aggregated information - Aggregated volume  - Price	N/A (Single transaction)
e)	Date of the transaction	2017- 10 -31  10:00 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 0.1p each
	Identification code	GB00B075Z681
b)	Nature of the transaction	Issue of new Ordinary Shares in lieu of net fees
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		0.17 pence	2,920,000
d)	Aggregated information - Aggregated volume  - Price	N/A (Single transaction)
e)	Date of the transaction	2017- 10 -31  10:00 UTC
f)	Place of the transaction	Outside a trading venue (XOFF)

 

Notes to Editors:

About Natural Pozzolan

Pozzolan is a cementitious material that can partially replace ordinary Portland cement in cement and concrete mixes in amounts up to 35%. Natural pozzolans, therefore, have strong "green" credentials as the production of Portland cement is responsible for 5% of the global man-made carbon dioxide emissions with nearly one tonne of carbon dioxide (CO₂) generated for each tonne of cement produced. Natural pozzolans can also improve the strength and chemical resistance of concrete. Natural pozzolans can also replace industrial by-product pozzolans in cement such as coal fly ash. The availability and quality of fly ash is under threat as coal-fired power stations are phased out in favour of natural gas plants and fly ash quality becomes more variable due to increased emission control legislation.

About Perlite

Perlite is a glassy raw material which, when heated in a furnace, pops like popcorn and expands by up to 20 times in volume into a white or pale coloured, low density material. Expanded perlite is used in various industrial and household applications such as insulation, paint texturing, building materials, filter aids, insulating industrial cryogenic storage vessels and as a potting medium in gardening and horticulture to aid water retention and aeration of the soil. Some perlites can also be used as a natural pozzolan.

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

Website: www.sunriseresourcesplc.com  

 

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