Issue Of Warrants
Sunrise Resources Plc has announced the issuance of 45,000,000 warrants to subscribe for new Ordinary Shares, representing 0.48% of the company's issued share capital. These warrants are part of a long-standing annual remuneration arrangement for certain employees of Tertiary Minerals plc, two non-executive directors, and the Company Secretary. The warrants carry an exercise price of 0.025 pence per share and are exercisable for four years from May 6, 2027. This issuance brings the total number of outstanding warrants to 87,000,000, or 0.93% of the issued share capital.
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On 5 May 2026, 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 45,000,000 warrants over new Ordinary Shares, representing 0.48% 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 and the Company Secretary in connection with their remuneration as follows:
| Grantee | No. of Warrants | Warrant Exercise Price (pence per share) |
|---|---|---|
| Tertiary Employees (4) | (Total of) 20,000,000 | 0.025 |
| Non-Executive Director James Cole | 10,000,000 | 0.025 |
| Non-Executive Director Adam Hainsworth | 10,000,000 | 0.025 |
| Company Secretary Rod Venables | 5,000,000 | 0.025 |
The Warrant Exercise Price is 0.025 pence, being the price at which shares were recently issued by way of a placing and WRAP retail offer. 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 6 May 2027.
This brings the total number of warrants in issue in the Company to 87,000,000 representing 0.93% of the Company's issued share capital. The Company last issued warrants to Directors and Tertiary employees in August 2023
Nominated Adviser
Shares in the Company trade on AIM. EPIC: "SRES". Website: www.sunriseresourcesplc.com
| 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 |
| a) | Name | Sunrise Resources plc |
| b) | LEI | 213800MGDOE974QHPZ44 |
| a) | Description of the financial instrument, type of instrument | Warrants, each warrant to subscribe for one ordinary share of 0.001p 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 0.025 pence | 10,000,000 warrants | |
| d) | Aggregated information - Aggregated volume - Price | N/A (Single transaction as in 4 c) above) |
| e) | Date of the transaction | 05/05/2026 15:00 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 | Adam Hainsworth |
| 2 | Reason for the notification | |
| a ) | Position / s t a tus | Non-executive director |
| b) | Initial notification / Amendment | Initial notification |
| a ) | Name | Sunrise Resources plc |
| b) | LEI | 213800MGDOE974QHPZ44 |
| a ) | Description of the fin a n cial instrum e n t , type of in s t rument | Warrants, each warrant to subscribe for one ordinary share of 0.001p each |
| Identification code | GB00B075Z681 | |
| b) | Nature of th e transac t i o n | Grant of Warrants |
| c) | Price(s) a n d v o lume(s) | |
| Price(s) | Volume(s) | |
| Exercise price of 0.025 pence | 10,000,000 | |
| d) | Aggregated information - Aggregated volume - Price | N/A (Single transaction as in 4 c) above) |
| e) | Date of the transaction | 05/05/2026 15:00 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 | Rod Venables |
| 2 | Reason for the notification | |
| a ) | Position / s t a tus | Company Secretary |
| b) | Initial notification / Amendment | Initial notification |
| a ) | Name | Sunrise Resources plc |
| b) | LEI | 213800MGDOE974QHPZ44 |
| a ) | Description of the fin a n cial instrum e n t , type of in s t rument | Warrants, each warrant to subscribe for one ordinary share of 0.001p each |
| Identification code | GB00B075Z681 | |
| b) | Nature of th e transac t i o n | Grant of Warrants |
| c) | Price(s) a n d v o lume(s) | |
| Price(s) | Volume(s) | |
| Exercise price of 0.025 pence | 5,000,000 | |
| d) | Aggregated information - Aggregated volume - Price | N/A (Single transaction as in 4 c) above) |
| e) | Date of the transaction | 05/05/2026 15:00 UTC |
| f) | Place of the transaction | Outside a trading venue (XOFF) |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.