Issue of New Ordinary Shares

RNS Number : 5209W

Sunrise Resources Plc

07 November 2014

 

7 November 2014

Issue of New Ordinary Shares and Total Voting Rights

Sunrise Resources plc, the AIM quoted diversified mineral exploration and development company ("the Company"), announces that on 7 November 2014 the Board of the Company resolved to issue 5,011,388 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 2014. 

The New Shares were issued at a price of 0.425 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 52,936,593 ordinary shares and its interest in the capital of the Company will increase from 9.52% to 10.41% 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 13 November 2014.

Following the issue of the New Shares the Company's enlarged issued share capital will therefore comprise 508,337,320 ordinary shares with one voting right per share. There are no shares held in treasury. This figure of 508,337,320 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 Financial Conduct Authority'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]

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

 

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