REG - Sunrise Resources - DIRECTOR DEALING, ISSUE OF EQUITY & TVR

Sunrise ResourcesAnnouncement

23/02/2024 12:30

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RNS Number : 3093E  Sunrise Resources Plc  23 February 2024

23 February 2024

 

 

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

 

DIRECTOR DEALING, ISSUE OF EQUITY & TOTAL VOTING RIGHTS

 

Sunrise Resources plc wishes to announce as follows:

 

Issue of New Ordinary Shares

 

Pursuant to terms first agreed on 20 August 2008, and in order for the Company
to preserve cash for its project activities, the directors of the Company will
again be receiving settlement of a portion of their outstanding fees in
ordinary shares of 0.001 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. The Company is also settling a
portion of fees payable to a supplier in Ordinary Shares at the same price.

 

Yesterday, 22 February 2024, the Board resolved to issue a total of
55,252,000 Ordinary Shares (the "New Ordinary Shares") being 27,474,222 New
Ordinary Shares to be issued to the directors in settlement of a portion of
outstanding net fees, for the seven-month period ended 31 October 2023, and
27,777,778 New Ordinary Shares to be issued to Mining and Metals Research
Corporation.

 

The following table shows the number of New Ordinary Shares issued to the
directors and their total holdings following the issue of the New Ordinary
Shares:

 

 Director           Number of New Ordinary Shares issued  Total interest in Ordinary Shares following Admission  % of Company's issued share capital following Admission

 Patrick Cheetham*  3,047,556                             258,832,572                                            6.24
 Roger Murphy       12,213,333                            90,999,010                                             2.19
 James Cole         12,213,333                            32,768,986                                             0.79

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

 

The New Ordinary Shares were issued at a price of 0.045 pence per share, being
the closing mid-market price on AIM on Tuesday 21 February 2024.

 

Application will be made to the London Stock Exchange for 55,252,000 New
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 Thursday 29 February 2024.

 

Total Voting Rights

 

In accordance with the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules ("DTRs"), following the issue of the New Ordinary Shares
and Admission, the total issued share capital of the Company with voting
rights will be 4,150,314,030 Ordinary Shares.

 

The above figure of 4,150,314,030 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                  Tel: +44 (0)1625 838 884

 Patrick Cheetham, Executive Chairman
                                        Tel: +44 (0)207 628 3396

 Beaumont Cornish Limited

 Nominated Adviser

 James Biddle/Roland Cornish
                                        Tel: +44 (0)207 469 0930

 Peterhouse Capital Limited

 Broker

 Lucy Williams/Duncan Vasey

 

Market Abuse Regulation (MAR) Disclosure

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
('MAR').

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.

 

 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 0.001p each

     Identification code                                          GB00B075Z681
 b)  Nature of the transaction                                    Issue of new Ordinary Shares in settlement of a portion  of the director's
                                                                  outstanding fees
 c)  Price(s) and volume(s)                                       Price(s)                                Volume(s)
     0.045 pence                                                                                          3,047,556
 d)  Aggregated information

     - Aggregated volume                                          N/A (Single transaction)

     - Price

 e)  Date of the transaction                                      22/02/2024

                                                                  13:00 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 0.001p each

     Identification code                                          GB00B075Z681
 b)  Nature of the transaction                                    Issue of new Ordinary Shares in settlement of a portion of the director's
                                                                  outstanding fees
 c)  Price(s) and volume(s)
     Price(s)                                                                                            Volume(s)
     0.045 pence                                                                                         12,213,333

 d)  Aggregated information                                       N/A (single issue of shares in lieu of fees as in 4 c) above)

     - Aggregated volume

     - Price

 e)  Date of the transaction                                      22/02/2024

                                                                  13:00 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                                                           James Cole
 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 0.001p each

     Identification code                                            GB00B075Z681
 b)  Nature of the transaction                                      Issue of new Ordinary Shares in settlement of a portion of the director's
                                                                    outstanding fees
 c)  Price(s) and volume(s)
     Price(s)                                                                                              Volume(s)
     0.045 pence                                                                                           12,213,333

 d)  Aggregated information                                         N/A (single issue of shares in lieu of fees as in 4 c) above)

     - Aggregated volume

     - Price

 e)  Date of the transaction                                        22/02/2024

                                                                    13:00 UTC

 f)  Place of the transaction                                       Outside a trading venue (XOFF)

 

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