8 June 2023
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
DIRECTOR DEALING, ISSUE OF EQUITY & TOTAL VOTING RIGHTS
Sunrise Resources plc wishes to announce as follows:
Issue of New Ordinary Shares
Pursuant to terms first agreed on 20 August 2008, and in order for the Company to preserve cash for its project activities, the directors of the Company will again be receiving settlement of a portion of their outstanding 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. The Company is also settling a portion of fees payable to a supplier in Ordinary Shares at the same price.
Today, 8 June 2023, the Board resolved to issue a total of 18,519,800 Ordinary Shares (the "New Ordinary Shares") being 15,519,800 New Ordinary Shares to be issued to the directors in settlement of a portion of outstanding net fees, for the six-month period ended 31 March 2023, and 3,000,000 New Ordinary Shares to be issued to Mining and Metals Research Corporation.
The following table shows the number of New Ordinary Shares issued to the directors and their total holdings following the issue of the New Ordinary Shares:
| Director
| Number of New Ordinary Shares issued | Total interest in Ordinary Shares following Admission | % of Company's issued share capital following Admission |
| Patrick Cheetham* | 3,452,020 | 255,785,016 | 6.41 |
| Roger Murphy | 6,033,890 | 78,785,677 | 1.98 |
| James Cole | 6,033,890 | 20,555,653 | 0.52 |
* includes 5,500,000 shares held by K E Cheetham, wife of P Cheetham.
The New Ordinary Shares were issued at a price of 0.1 pence per share, being the closing mid-market price on AIM on Wednesday 7 June 2023.
Application will be made to the London Stock Exchange for 18,519,800 New 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 Thursday 15 June 2023.
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following the issue of the New Ordinary Shares and Admission, the total issued share capital of the Company with voting rights will be 3,987,909,173 Ordinary Shares.
The above figure of 3,987,909,173 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 |
|
Beaumont Cornish Limited Nominated Adviser James Biddle/Roland Cornish | Tel: +44 (0)207 628 3396 |
|
Peterhouse Capital Limited Broker Lucy Williams/Duncan Vasey
| Tel: +44 (0)207 469 0930
|
Market Abuse Regulation (MAR) Disclosure
The information set out below is provided in accordance with the requirements of Article 19(3) of 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').
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 0.1p each | |
| Identification code | GB00B075Z681 | ||
| b) | Nature of the transaction | Issue of new Ordinary Shares in settlement of a portion of the director's outstanding fees | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| 0.1 pence | 3,452,020 | ||
| d) | Aggregated information - Aggregated volume - Price
|
N/A (Single transaction)
| |
| e) | Date of the transaction | 08/06/2023 10:00 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 settlement of a portion of the director's outstanding fees | |
| c) | Price(s) and volume(s) | | |
| Price(s) | Volume(s) | ||
| 0.1 pence | 6,033,890 | ||
| | |||
| d) | Aggregated information - Aggregated volume - Price
| N/A (single issue of shares in lieu of fees as in 4 c) above) | |
| e) | Date of the transaction | 08/06/2023 10:00 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 | James Cole | |
| 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 settlement of a portion of the director's outstanding fees | |
| c) | Price(s) and volume(s) | | |
| Price(s) | Volume(s) | ||
| 0.1 pence | 6,033,890 | ||
| | |||
| d) | Aggregated information - Aggregated volume - Price
| N/A (single issue of shares in lieu of fees as in 4 c) above) | |
| e) | Date of the transaction | 08/06/2023 10:00 UTC
| |
| f) | Place of the transaction | Outside a trading venue (XOFF) | |
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