Director dealing and issue of equity

22 August 2018

 

SUNRISE RESOURCES PLC

(the "Company")

 

Director Dealing, Issue of Equity, Total Voting Rights

 

Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, announces that pursuant to terms agreed on 20 August 2008, the directors of the Company will be receiving their net fees in Ordinary Shares of 0.1 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. This enables the Company to preserve cash for its exploration activities.

 

On Tuesday 21 August 2018, the Board resolved to issue a total of 7,044,426 new Ordinary Shares to the directors, in lieu of net fees, for the six month period ended 31 March 2018. The Ordinary Shares were issued at a price of 0.15 pence per share, being the closing mid-market price on AIM on Monday 20 August 2018.

 

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

 

Director	Number of Ordinary Shares issued	Total interest in Ordinary Shares following Admission	% of Company's issued share capital following Admission
Patrick Cheetham*	1,948,853	83,454,885	3.42
David Swan	2,093,120	17,000,757	0.70
Roger Murphy	3,002,453	29,414,074	1.21

 

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

 

Application will be made to the London Stock Exchange for 7,044,426 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 29 August 2018.

 

Total Voting Rights

 

In accordance with Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following the issue and Admission, the total issued share capital of the Company with voting rights will be 2,436,910,064 Ordinary Shares.

 

The above figure of 2,436,910,064 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 Patrick Cheetham, Executive Chairman	Tel:	+44 (0)1625 838 884
Northland Capital Partners Limited Nominated Adviser & Joint Broker Matthew Johnson/Edward Hutton/ Jamie Spotswood (Corporate Finance)   Isabella Pierre (Corporate Broking)	Tel:	+44 (0)20 3861 6625
SVS Securities Plc Joint Broker Tom Curran/Ben Tadd	Tel:	+44 (0)203 700 0093

 

 

Market Abuse Regulation

 

The information set out below is provided in accordance with the requirements of Article 19(3) of Regulation (EU) No.596/2014 of the European Parliament and of the Council.

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 0.1p each
	Identification code	GB00B075Z681
b)	Nature of the transaction	Issue of new Ordinary Shares in lieu of net fees
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		0.15 pence	1,948,853
d)	Aggregated information - Aggregated volume  - Price	N/A (Single transaction)
e)	Date of the transaction	21/08/2018  11:00 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	David Swan
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 0.1p each
	Identification code	GB00B075Z681
b)	Nature of the transaction	Issue of new Ordinary Shares in lieu of net fees
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		0.15 pence	2,093,120
d)	Aggregated information - Aggregated volume  - Price	N/A (Single transaction)
e)	Date of the transaction	21/08/2018  11:00 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 0.1p each
	Identification code	GB00B075Z681
b)	Nature of the transaction	Issue of new Ordinary Shares in lieu of net fees
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		0.15 pence	3,002,453
d)	Aggregated information - Aggregated volume  - Price	N/A (Single transaction)
e)	Date of the transaction	21/08/2018  11:00 UTC
f)	Place of the transaction	Outside a trading venue (XOFF)

 

 About Sunrise Resources plc

The Company's objective is to develop profitable mining operations at the CS Pozzolan-Perlite Project in Nevada, USA and unlock the value inherent in our diverse portfolio of industrial minerals, precious metals and base metal projects.

Shares in the Company trade on AIM under the symbol "SRES" and also on the NEX Exchange (Secondary Market).