Sunrise Resources Plc Issue of New Ordinary Shares & Total Voting Rights (2715P)
16 November 2016 - 6:00PM
UK Regulatory
TIDMSRES
RNS Number : 2715P
Sunrise Resources Plc
16 November 2016
16 November 2016
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
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 15 November 2016 the Board of the Company resolved to issue
11,887,558 new ordinary shares of 0.1p each to Tertiary Minerals
plc in part settlement of management fees for the three month
period ended 30 September 2016 (the "New Shares"). The New Shares
were issued at a price of 0.19 pence per share, being the closing
mid-market price of the Company's ordinary shares on 15 November
2016.
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 114,122,557 ordinary shares of 0.1p each ("Ordinary
Shares") and its interest in the capital of the Company will
increase from 9.13% to 10.08% 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 21 November
2016.
Following admission, the Company's enlarged issued share capital
will comprise 1,131,797,937 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
1,131,797,937.
This figure of 1,131,797,937 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 Guidance and Transparency
Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Further information:
Sunrise Resources plc
Patrick Cheetham, Executive +44 (0) 1625
Chairman Tel: 838 884
Northland Capital Partners
Limited
Edward Hutton/David Hignell
(Nominated Adviser) +44 (0)203 861
John Howes/Rob Rees (Broking) Tel: 6625
Beaufort Securities Limited
Joint Broker +44 (0)207
Jon Belliss Tel: 382 8300
About Sunrise Resources plc
Sunrise Resources plc is an AIM-traded diversified mineral
exploration and development company. The Company's objective is to
develop profitable mining operations to sustain the Company's wider
exploration efforts and create value for shareholders through the
discovery of world-class deposits.
The Company is exploring a number of precious metal, base metal
and industrial mineral projects in Nevada, USA. The Company holds a
royalty interest from EP Minerals in a diatomite project in Nevada
and holds a white barite project in South-West Ireland. The Company
also holds diamond and gold exploration interests in Western
Australia.
Shares in the Company trade on AIM. EPIC: "SRES"
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCZMMMMRKMGVZM
(END) Dow Jones Newswires
November 16, 2016 02:00 ET (07:00 GMT)