REG - Sunrise Resources - Placing raised £200k, launch of WRAP retail offer

Sunrise ResourcesAnnouncement

31/07/2025 07:01

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RNS Number : 2727T  Sunrise Resources Plc  31 July 2025

 

 

 31 July 2025

 

SUNRISE RESOURCES PLC

("Sunrise" or the "Company")

 

Placing to Raise £200,000

Launch of WRAP Retail Offer

 

Sunrise Resources plc (AIM: SRES), wishes to announce that it has
conditionally raised £200,000 before expenses ("the Placing") through the
issue of 1,176,470,588 new Ordinary Shares of 0.001p each (the "Placing
Shares") at the price of 0.017 pence per Placing Share (the "Placing Price").
The Placing Price represents a discount of approximately 17.1 per cent. to the
mid-market closing price of an Ordinary Share on 30 July 2025 (being the
latest practicable date prior to this announcement).

 

The Company will also shortly be launching a retail offering to the Company's
existing shareholders to raise up to an additional £50,000 through the issue
of up to a further 294,117,647 new ordinary shares (the
"WRAP Retail Offer Shares") at the Placing Price.

 

The Placing

 

The Placing was arranged through the Company's broker, Peterhouse Capital
Limited ("Peterhouse").

 

Mr Patrick Cheetham, Executive Chairman of the Company, has subscribed
£50,000 for          294,117,647 Placing Shares and Mr Adam
Hainsworth, a non-executive director of the Company has subscribed £30,000
for 176,470,588 Placing Shares as part of the Placing. Mr Cheetham's and Mr
Hainsworth's participation in the Placing constitute related party actions
under AIM Rule 13. The independent director of the Company (being Mr James
Cole), having consulted with Beaumont Cornish Limited, the Company's nominated
adviser, considers that the terms of their participation in the Placing are
fair and reasonable insofar as the Company's shareholders are concerned.

Following the issue of the Placing Shares, Mr Cheetham will be beneficially
interested in          685,761,926 Ordinary Shares representing
approximately 10.22% of the Company's enlarged issued share capital and Mr
Hainsworth will be beneficially interested in 325,738,372 representing
approximately 4.85% of the Company's enlarged issued share capital.

Half of the amount raised by the Placing has been invested by a single
institutional shareholder, a new investor in the Company.

Commenting today, Executive Chairman Patrick Cheetham said:

 

"Both myself and Mr Hainsworth are pleased to continue our financial support
for the Company as we believe that the Company's assets are substantially
undervalued by the market and that patient shareholders will be rewarded. We
are also delighted to welcome a significant new institutional shareholder to
the Company who shares the Board's vision for the Company."

 

Use of Proceeds

 

The net funds raised will be applied to general working capital and to support
the Company's plans for advancement of the Company's mineral projects.

 

Admission

 

The issue of the Placing Shares is conditional only on Admission. Application
is being made for the Placing Shares, which will rank pari passu with all
existing ordinary shares,to be admitted to trading on AIM and Admission is
expected to occur on or around 6 August 2025.

 

The Retail Offer

The Company is pleased to announce that a retail offer to existing
shareholders will be shortly launched via the Winterford Retail Access
Platform ("WRAP"), to raise up to an additional £50,000 (the
"WRAP Retail Offer"), through the issue of up to 294,117,647 WRAP Retail
Offer Shares, at the Placing Price.

 

The proceeds of the WRAP Retail Offer will be utilised in the same way as the
proceeds of the Placing. For the avoidance of doubt, the WRAP Retail Offer is
not part of the Placing. Completion of the WRAP Retail Offer is
conditional, inter alia, upon the completion of the Placing, but completion
of the Placing is not conditional on the completion of the WRAP Retail Offer.
The WRAP Retail Offer is conditional on the WRAP Retail Offer Shares being
admitted to trading on AIM.

 

The Company values its shareholder base and believes that it is appropriate to
provide its existing retail shareholders in the United Kingdom the opportunity
to participate in its fundraising.

 

The WRAP Retail Offer is expected to close at 10.00am on Friday 1 August.

 

Total Voting Rights

 

For the purposes of the Disclosure and Transparency Rules of the Financial
Conduct Authority, the Board of Sunrise hereby notifies the market that
further to Admission of the Placing Shares, the Company's issued share capital
will consist of 6,709,472,747 Ordinary Shares with a nominal value of 0.001p
each, with voting rights ("Ordinary Shares"). The Company does not hold any
Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in
the Company with voting rights will be 6,709,472,747. This figure may be used
by shareholders in the Company as denominator for the calculations by which
they may determine if they are required to notify their interest in, or a
change to their interest in, the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.

 

 

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 contained within this announcement is deemed by the Company to
constitute inside information as stipulated under 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'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

 

Nominated Adviser

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

 

 

 

 

 

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 0.001 pence each

     Identification code                                            GB00B075Z681

 b)  Nature of the transaction                                      Subscription for shares in Placing and grant of Warrants
 c)  Price(s) and volume(s)                                         1. Participation in Placing

Price(s)     Volume
                                                                    0.017 pence  294,117,647

 

 d)  Aggregated information

     - Aggregated volume                                            N/A (Single transaction)

     - Price

 e)  Date of the transaction                                        31 July 2024

                                                                    07:00 GMT

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

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

 

N/A (Single transaction)

 

e)

Date of the transaction

31 July 2024

07:00 GMT

 

f)

Place of the transaction

Outside a trading venue (XOFF)

 

 

 1   Details  of  the  person   discharging  managerial   responsibilities
     I person closely associated
 a)  Name                                                           Adam Hainsworth
 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 0.001 pence each

     Identification code                                            GB00B075Z681

 b)  Nature of the transaction                                      Subscription for shares in Placing and grant of Warrants
 c)  Price(s) and volume(s)                                         1. Participation in Placing

Price(s)     Volume
                                                                    0.017 pence  176,470,588

 

 d)  Aggregated information

     - Aggregated volume                                            N/A (Single transaction)

     - Price

 e)  Date of the transaction                                        31 July 2025

                                                                    07:00 GMT

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

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

 

N/A (Single transaction)

 

e)

Date of the transaction

31 July 2025

07:00 GMT

 

f)

Place of the transaction

Outside a trading venue (XOFF)

 

 

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