Sunrise Resources Plc Issue of New Ordinary Shares & Total Voting Rights (3226R)
March 08 2016 - 6:00AM
UK Regulatory
TIDMSRES TIDMTYM
RNS Number : 3226R
Sunrise Resources Plc
08 March 2016
8 March 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 7 March 2016 the Board of the Company resolved to issue
49,298,406 new ordinary shares of 0.1p each ("the New Shares") to
Tertiary Minerals plc in settlement of management fees for the six
month period ended 31 December 2015.
The New Shares were issued at a price of 0.175 pence per share,
being the closing mid-market price of the Company's ordinary shares
on 7 March 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 102,234,999 ordinary shares and its interest in the
capital of the Company will increase from 7.60% to 13.70% 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 14 March
2016.
Following admission, the Company's enlarged issued share capital
will comprise 746,181,842 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 746,181,842.
This figure of 746,181,842 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 and Transparency Rules.
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)20 7382
John Howes/Rob Rees (Broking) Tel: 1100
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 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 has diamond and gold exploration
interests in Western Australia and has staked claims and acquired
leases over a number of base, precious metal and industrial mineral
projects in Nevada, USA.
Shares in the Company trade on AIM. EPIC: "SRES"
http://www.sunriseresourcesplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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