Issue of Equity

RNS Number : 4021S

Sunrise Resources Plc

06 November 2013

 



 Sunrise Resources plc

6 November 2013

Issue of New Ordinary Shares and Total Voting Rights

Sunrise Resources plc, ("Sunrise Resources" or "the Company", ticker symbol 'SRES'), the AIM-quoted diversified mineral exploration and development specialist, announces that on 6 November 2013 the Board of the Company resolved to issue 7,254,266 new ordinary shares of 0.1p each ("the New Shares"),to Tertiary Minerals plc in settlement of management fees for the quarter to 30 September 2013. 

The New Shares were issued at a price of 0.5 pence per share, being the closing bid price of the ordinary shares on 5 November 2013.

Since formation of the Company, Tertiary Minerals plc has provided, and continues to provide, the Company with office facilities and company and project management services at cost. This cost sharing arrangement works to the benefit of both companies and enables them to be run with reduced overheads.

Following the issue of the New Shares, Tertiary Minerals plc will hold 40,147,428 ordinary shares being 10.48% of the enlarged issued capital of the Company.

Application will be made for the New Shares to be admitted to trading on AIM. Admission is expected to occur on 12 November 2013.

Following the issue of the New Shares the Company's enlarged issued share capital will therefore comprise 383,250,573 ordinary shares with one voting right per share. There are no shares held in treasury.This figure of 383,250,573 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.

ENQUIRIES

Sunrise Resources plc                                                        Tel:  [phone]

Patrick Cheetham, Executive Chairman                   

Northland Capital Partners Limited                                   Tel: [phone]

Gavin Burnell / Edward Hutton

Alice Lane / Mark Simpson (Broking)

Yellow Jersey PR Limited                                                  Tel: [phone]

Dominic Barretto / Kelsey Traynor                                

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, has diamond exploration interests in Western Australia and Finland and has recently applied for licences over two gold prospective areas in central Western Australia.

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

 

END

 

 

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