Share and Warrant Issue and Total Voting Rights

RNS Number : 2956E

Sunrise Resources Plc

06 February 2015

 

6 February 2015

SUNRISE RESOURCES PLC

Share and Warrant Issue

Total Voting Rights

Issue of New Ordinary Shares

Sunrise Resources plc (ticker symbol 'SRES'), the AIM-quoted diversified mineral exploration and development company ("the Company"), announces that on 5 February 2015 the Board of the Company resolved to issue 3,278,029 new ordinary shares of 0.1 pence each in the Company (the "New Ordinary Shares") to its directors in lieu of net fees for the six month period ended 31 December 2014. The issue of New Ordinary 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 its exploration activities.

The New Ordinary Shares were issued at a price of 0.275 pence per share, being the closing mid-market price of the ordinary shares on 4 February 2015.

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 ordinary shares issued	Interest in enlarged issued share capital	% of enlarged issued share capital
Patrick Cheetham	1,270,276	*21,125,951	3.63%
Francis Johnstone	949,331	6,893,079	1.19%
David Swan	1,058,422	3,481,944	0.60%

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

Application will be made for the New Ordinary Shares to be admitted to trading on AIM and admission is expected to occur on 12 February 2015.

Following admission, the Company's enlarged issued share capital will comprise 581,615,349 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 581,615,349.

Total Voting Rights

This figure of 581,615,349 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.

Issue of Warrants

The Company also announces that on 5 February 2015 the Board of the Company granted 9,375,000 warrants to officers and directors of the Company and to employees of Tertiary Minerals plc working on its behalf. The grant included the following directors of the Company:

Name	Number of warrants granted
Patrick Cheetham (Executive Chairman)	3,000,000
Francis Johnstone (Non-executive Director)	1,500,000
David Swan (Non-executive Director)	1,500,000

Each warrant entitles the holder to subscribe for one ordinary share at the price of 0.275 pence per share, being the closing mid-market price on the 4 February 2015, and the warrants may be exercised at any time within 4 years from 5 February 2016.

As a result of this issue of warrants the total number of warrants currently held by each director is as follows:

Name	Number of warrants held
Patrick Cheetham (Executive Chairman)	17,222,222
Francis Johnstone (Non-executive Director)	7,500,000
David Swan (Non-executive Director)	3,500,000

Further information:

Sunrise Resources plc Patrick Cheetham, Executive Chairman	Tel:	[phone]
Northland Capital Partners Limited Edward Hutton/David Hignell John Howes/Alice Lane (Broking)	Tel:	[phone]

Notes to Editors:

About Sunrise Resources plc

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

The Company has diamond and gold exploration interests in Western Australia and has an active project programme to generate new exploration projects in Australia and Nevada, USA. It has staked claims over the Strike Copper Project, the County Line Diatomite Project and the Garfield Gold-Silver-Copper Project in Nevada, USA and most recently has acquired an interest in the Bay State Silver Project.

The Company also holds diamond exploration interests in Finland and a white barite project in South-West Ireland.

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

 

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