Sunrise Resources Plc DIRECTOR DEALING, ISSUE OF EQUITY & TVR (9753M)

TIDMSRES

RNS Number : 9753M

Sunrise Resources Plc

17 January 2023

17 January 2023

SUNRISE RESOURCES PLC

("Sunrise" or "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, 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.

Yesterday, Monday 16 January 2023, the Board resolved to issue a total of 20,116,000 new Ordinary Shares to the directors (the "New Ordinary Shares"), in settlement of a portion of outstanding net fees, for the six-month period ended 30 September 2022. The New Ordinary Shares were issued at a price of 0.1 pence per share, being the closing mid-market price on AIM on Friday 13 January 2023.

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        Total interest      % of Company's 
                       New Ordinary     in Ordinary         issued share capital 
                       Shares issued    Shares following    following Admission 
                                        Admission 
                     ---------------  ------------------ 
 Patrick Cheetham*    4,800,000        252,332,996         6.41 
-------------------  ---------------  ------------------  ---------------------- 
 Roger Murphy         7,658,000        72,751,787          1.85 
-------------------  ---------------  ------------------  ---------------------- 
 James Cole           7,658,000        14,521,763          0.37 
-------------------  ---------------  ------------------  ---------------------- 
 

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

Application will be made to the London Stock Exchange for 20,116,000 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 Friday 20 January 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 3,933,675,087 Ordinary Shares.

The above figure of 3,933,675,087 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.

Commenting today, Executive Chairman Patrick Cheetham said:

"I am grateful to see my fellow directors join me in taking their fees in shares once again. This not only allows us to maximise the funds available for our projects, but underlines the Board's continuing commitment to the Company."

Further information:

 
 Sunrise Resources plc           Tel: [phone] 
  Patrick Cheetham, Executive 
  Chairman 
                                 Tel: [phone] 
   Beaumont Cornish Limited 
   Nominated Adviser 
   James Biddle/Roland Cornish 
                                 Tel: [phone] 
   Peterhouse Capital Limited 
   Broker 
   Lucy Williams/Duncan Vasey 
 

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                  Initial notification 
      /Amendment 
     -----------------------------------  ---------------------------------------------- 
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                    Ordinary Shares of 0.1p each 
      financial instrument, 
      type of instrument 
     -----------------------------------  ---------------------------------------------- 
     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                                                         4,800,000 
  ----------------------------------------------------------------  -------------------- 
d)   Aggregated information 
      - Aggregated volume                   N/A (Single transaction) 
      - Price 
     -----------------------------------  ---------------------------------------------- 
e)   Date of the transaction                16/01/2023 
     16:00 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                  Initial notification 
      /Amendment 
     -----------------------------------  ---------------------------------------------- 
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                    Ordinary Shares of 0.1p each 
      financial instrument, 
      type of instrument 
     -----------------------------------  ---------------------------------------------- 
     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                                                         7,658,000 
  ----------------------------------------------------------------  -------------------- 
 
d)   Aggregated information                N/A (single issue of shares in lieu 
      - Aggregated volume                   of fees as in 4 c) above) 
      - Price 
     -----------------------------------  ---------------------------------------------- 

e)   Date of the transaction                16/01/2023 
     16:00 UTC 
  -------------------------------------------------------------------------------------- 
f)   Place of the transaction              Outside a trading venue (XOFF) 
     -----------------------------------  ---------------------------------------------- 
 
 
  1     Details of the person discharging managerial responsibilities 
         I person closely associated 
 a     N a me                                 James Cole 
  ) 
      -------------------------------------  ----------------------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------------------- 
 a     Position/st atus                       Non-executive director 
  ) 
      -------------------------------------  ----------------------------------------------- 
 b)    Initial notification                   Initial notification 
        /Amendment 
      -------------------------------------  ----------------------------------------------- 
 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 fina                Ordinary Shares of 0.1p each 
  )     ncial instrument, type 
        of ins trument 
      -------------------------------------  ----------------------------------------------- 
      Identification code                     GB00B075Z681 
      -------------------------------------  ----------------------------------------------- 
 b)    Nature of the transact                 Issue of new Ordinary Shares in settlement 
        i on                                   of a portion of the director's outstanding 
                                               fees 
      -------------------------------------  ----------------------------------------------- 
 
 c)    Price(s) a nd volume(s)                Price(s)                 Volume(s) 
      -------------------------------------  -----------------------  ---------------------- 
   0.1 pence                                                           7,658,000 
  ------------------------------------------------------------------  ---------------------- 
 
 d)    Aggregated information                 N/A (single issue of shares in lieu 
        - Aggregated volume                    of fees as in 4 c) above) 
        - Price 
      -------------------------------------  ----------------------------------------------- 
 e)    Date of the transaction                  16/01/2023 
      16:00 UTC 
  ------------------------------------------------------------------------------------------ 
 f)    Place of the transaction               Outside a trading venue (XOFF) 
      -------------------------------------  ----------------------------------------------- 
 

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January 17, 2023 04:19 ET (09:19 GMT)