Director Share Purchase & Issue of Equity

RNS Number : 8084U

Sunrise Resources Plc

04 January 2013

 

4 January 2013

Directors' Share Purchase, Share Issue & Total Voting Rights

On Market Share Purchase

Sunrise Resources plc, (ticker symbol 'SRES'), the AIM-quoted diversified mineral exploration and development specialist ("the Company"), announces that the Chairman of the Company, Mr. Patrick Cheetham, purchased 125,000 ordinary shares, on market, at an average price of 0.795p per share on 2 January 2013.

Issue of New Ordinary Shares

The Company also announces that on 3 January 2013 the Board of the Company resolved to issue 1,319,965 new ordinary shares of 0.1p each in the Company to its directors in lieu of net fees for the six month period ended 31 December 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 new ordinary shares were issued at a price of 0.9p per share, being the closing mid-market price of the ordinary shares on 2 January 2013.

The following table shows the number of new ordinary shares issued to directors and their total holdings following the on market share purchase and 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	395,116	*12,193,502	3.33%
Francis Johnstone	399,049	4,252,370	1.16%
David Swan	525,800	640,086	0.17%

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

Application will be made for the 1,319,965 new ordinary shares to be admitted to trading on AIM and admission is expected to occur on 10 January 2013.

Following admission, the Company's enlarged issued share capital will comprise 366,571,082 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 366,571,082.

This figure of 366,571,082 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                                                        Tel:  [phone]

Patrick Cheetham, Executive Chairman                   

Northland Capital Partners Limited                                   Tel: [phone]

Gavin Burnell / Edward Hutton

Alice Lane /John-Henry Wicks (Broking)

Yellow Jersey PR Limited                                                  Tel: [phone]

Dominic Barretto                                    

About Sunrise Resources plc

Sunrise Resources plc is a diversified mineral exploration and development specialist.

The Company is evaluating a production opportunity for white barite in south-west Ireland and diamond exploration interests in Western Australia and Finland.

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

http://www.sunriseresourcesplc.com

 

END

 

 

IOEUGURAGUPWGQW