Tertiary Minerals PLC Issue of Equity by Sunrise Resources PLC (3793R)
March 08 2016 - 6:00AM
UK Regulatory
TIDMTYM TIDMSRES
RNS Number : 3793R
Tertiary Minerals PLC
08 March 2016
08 March 2016
Tertiary Minerals plc
("Tertiary" or "the Company")
Issue of Shares by Sunrise Resources PLC
Tertiary Minerals plc, the AIM traded company ("the Company")
building a strategic position in the fluorspar sector, is pleased
to announce that on 7 March 2016 the Board of Sunrise Resources PLC
("Sunrise") resolved to issue 49,298,406 new ordinary shares of
0.1p each of Sunrise ("the New Shares") to Tertiary in settlement
of management fees of GBP86,272.21 due to the Company for the six
month period ended 31 December 2015.
Since the formation of Sunrise, Tertiary has provided, and
continues to provide, Sunrise 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 will hold
102,234,999 ordinary shares of Sunrise, representing an interest of
approximately 13.70% of the enlarged issued capital of Sunrise.
Application will be made for the New Shares to be admitted to
trading on AIM. Admission is expected to occur on 14 March
2016.
Enquiries
Tertiary Minerals plc
Patrick Cheetham, Executive
Chairman
Richard Clemmey, Managing
Director +44 (0)1625 838 679
SP Angel Corporate Finance
LLP
Nominated Adviser & Joint
Broker
Ewan Leggat / Tercel
Moore +44 (0)20 3470 0470
Beaufort Securities Ltd
Joint Broker
Jon Belliss / Elliot
Hance +44 (0)20 7382 8300
Notes to Editors
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-quoted
mineral exploration and development company building a significant
strategic position in the fluorspar sector. Fluorspar is an
essential raw material in the chemical, steel and aluminium
industries. Tertiary controls two significant Scandinavian projects
(Storuman in Sweden and Lassedalen in Norway) and a large deposit
of strategic significance in Nevada USA (MB Project).
CAUTIONARY NOTICE
The news release may contain certain statements and expressions
of belief, expectation or opinion which are forward looking
statements, and which relate, inter alia, to the Company's proposed
strategy, plans and objectives or to the expectations or intentions
of the Company's directors. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors
beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially
different from such forward-looking statements. Accordingly, you
should not rely on any forward-looking statements and save as
required by the AIM Rules for Companies or by law, the Company does
not accept any obligation to disseminate any updates or revisions
to such forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEDMGGFLRFGVZG
(END) Dow Jones Newswires
March 08, 2016 06:00 ET (11:00 GMT)
Tertiary Minerals (LSE:TYM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tertiary Minerals (LSE:TYM)
Historical Stock Chart
From Apr 2023 to Apr 2024