11 August 2023
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
ISSUE OF WARRANTS
Sunrise Resources plc wishes to announce as follows:
Issue of Employee Warrants
On Wednesday 9 August 2023, the Board resolved to issue warrants to subscribe for Ordinary Shares in the Company as part of a long-standing annual arrangement as follows:
A total of 9,000,0000 warrants over new Ordinary Shares, representing 0.22% of the Company's issued share capital, are being issued to certain employees of Tertiary Minerals plc ("Tertiary") working on the Company's behalf and to the two non-executive directors of the Company in connection with their remuneration as follows:
| Grantee | No. of Warrants | Warrant Exercise Price (pence per share) |
| Tertiary Employees (4)
| (Total of) 4,000,000 | 0.1 |
| Non-Executive Director Roger Murphy | 2,500,000 | 0.1 |
| Non-Executive Director James Cole | 2,500,000 | 0.1 |
The Warrant exercise price is 0.1 pence, being the par value of the Company's Ordinary Shares. Each warrant entitles the holder to subscribe for one new Ordinary Share in the Company at the warrant exercise price at any time within the period of 4 years from 9 August 2024.
This brings the total number of warrants in issue in the Company to 85,000,000. This represents 2.11% of the Company's issued share capital.
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 |
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 | 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
| Warrants, each warrant to subscribe for one ordinary share of 0.1p each | |
| Identification code | GB00B075Z681 | ||
| b) | Nature of the transaction | Grant of Warrants | |
| c) | Price(s) and volume(s) | | |
| Price(s) | Volume(s) | ||
| Exercise price of 0.1 pence | 2,500,000 warrants | ||
| | |||
| d) | Aggregated information - Aggregated volume - Price
| N/A (Single transaction as in 4 c) above) | |
| e) | Date of the transaction | 09/08/2023 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 | 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
| Warrants, each warrant to subscribe for one ordinary share of 0.1p each | |
| Identification code | GB00B075Z681 | ||
| b) | Nature of the transaction | Grant of Warrants | |
| c) | Price(s) and volume(s) | | |
| Price(s) | Volume(s) | ||
| Exercise price of 0.1 pence | 2,500,000 | ||
| | |||
| d) | Aggregated information - Aggregated volume - Price
| N/A (Single transaction as in 4 c) above) | |
| e) | Date of the transaction | 09/08/2023 11:00 UTC
| |
| f) | Place of the transaction | Outside a trading venue (XOFF) | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Michael Dogbe | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Management Accountant, Tertiary Minerals plc | ||||
| 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: Identification code: | Warrants, each warrant to subscribe for one ordinary share of 0.1p each GB00B075Z681 (Ordinary Shares) | ||||
| b) | Nature of the transaction: | Grant of warrants to subscribe for new ordinary shares | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | N/A (Single transaction as in 4 c) above) | ||||
| e) | Date of the transaction: | 10/08/2023 11:00 UTC | ||||
| f) | Place of the transaction: | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Jaelithe Talboom | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Office Manager, Tertiary Minerals plc | ||||
| 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: Identification code: | Warrants, each warrant to subscribe for one ordinary share of 0.1p each GB00B075Z681 (Ordinary Shares) | ||||
| b) | Nature of the transaction: | Grant of warrants to subscribe for new ordinary shares | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | N/A (Single transaction as in 4 c) above)
| ||||
| e) | Date of the transaction: | 09/08/2023 11:00 UTC | ||||
| f) | Place of the transaction: | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Joel Cheetham | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Project Manager, Permitting & GIS, Tertiary Minerals plc | ||||
| 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: Identification code: | Warrants, each warrant to subscribe for one ordinary share of 0.1p each GB00B075Z681 (Ordinary Shares) | ||||
| b) | Nature of the transaction: | Grant of warrants to subscribe for new ordinary shares | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | N/A (Single transaction as in 4 c) above)
| ||||
| e) | Date of the transaction: | 09/08/2023 11:00 UTC | ||||
| f) | Place of the transaction: | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name: | Susan Swift | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status: | Office Administrator, Tertiary Minerals plc | ||||
| 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: Identification code: | Warrants, each warrant to subscribe for one ordinary share of 0.1p each GB00B075Z681 (Ordinary Shares) | ||||
| b) | Nature of the transaction: | Grant of warrants to subscribe for new ordinary shares | ||||
| c) | Price(s) and volume(s): |
| ||||
| d) | Aggregated information: Aggregated volume: Price: | N/A (Single transaction as in 4 c) above)
| ||||
| e) | Date of the transaction: | 09/08/2023 11:00 UTC | ||||
| f) | Place of the transaction: | Outside a trading venue | ||||
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