Issue of Equity

 

TIDMSDS 
 
RNS Number : 7971H 
Sunrise Diamonds PLC 
01 March 2010 
 

 
 
 
                            www.sunrisediamonds.com 
 
                                    1 March 2010 
 
                              Sunrise Diamonds plc 
                            ('SDS' or 'the Company') 
 
                                Issue of Equity 
 
Sunrise Diamonds plc announces that it has raised GBP350,000 by way of a private 
placing of 58,333,333 new ordinary shares of 0.1 pence each ("Placing Shares") 
at 0.6 pence per share together with warrants ("Placing Warrants"). The funds 
will be used for general working capital purposes. 
 
The placing is conditional, inter alia, on the new ordinary shares being 
admitted to trading on AIM, for which application is being made. Admission of 
the new ordinary shares to trading is expected to occur on or around 5 March 
2010. 
 
The placing shares will rank pari passu with the existing ordinary shares in 
issue and will increase the number of ordinary shares in issue to 247,206,886. 
Two Placing Warrants are being issued for every three Placing Shares subscribed 
for and each Placing Warrant will be exercisable at 0.6 pence per ordinary share 
at any time within 4 years from the data of Admission. 
 
Mr. Bruce Rowan has subscribed for 25,000,000 new ordinary shares as a part of 
the placing. Immediately following the placing, he will have an interest in 
44,125,582 shares representing 17.85% of the enlarged issued share capital. 
 
Mr. John Greenhalgh, a non-executive director of City of London Group Plc 
("COLG"), has subscribed for 20,833,333 new ordinary shares as a part of the 
placing. Immediately following the placing, he will have an interest in 
23,686,118 shares representing 9.58% of the enlarged issued share capital. 
 
COLG has subscribed for 12,500,000 new ordinary shares as a part of the placing. 
Immediately following the placing, COLG will have an interest in 17,500,000 
shares representing 7.08% of the enlarged issued share capital. 
 
COLG is a investment company listed on the main market of the London Stock 
Exchange with a wide range of national and international investments, including 
investments in the minerals and resources sector and in the financial services 
sector. John Greenhalgh was, until his retirement in August 2008, Chairman and 
Managing Director of COLG and both he and Mr Bruce Rowan are well-known City 
investors with a special interest in the resources sector. 
 
 
Further information: 
 
Patrick Cheetham, Sunrise Diamonds plc. Tel:  [phone]. Mobile: 
[phone] 
Gavin Burnell, Astaire Securities plc. Tel: [phone] 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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