Business
Issue of Shares following Conversion & TVR
Sunrise Resources Plc announced the conversion of £123,000 outstanding from a convertible security issued to Towards Net Zero, LLC. This conversion results in the issuance of 808,811,442 new ordinary shares at a conversion price of 0.0152 pence per share. Admission to trading on AIM for these conversion shares is expected around September 30, 2025. Following the conversion, no convertible amount remains outstanding, triggering a cash payment estimated at £65,000. The new shares represent a 10.35% interest in the expanded capital. Post-issuance, the company will have 7,812,401,836 shares in issue, each carrying one vote, representing the total number of voting rights. Disclaimer*
About this update from Sunrise Resources Plc
[{"type":"text","content":"\n\n24 September 2025\n \nSUNRISE RESOURCES PLC\n(\"Sunrise\" or the \"Company\")\n \n \nIssue and Allotment of Ordinary Shares following Conversion & TVR\nThe Company hereby announces the conversion of the outstanding balance of the amount of £123,000 of the Second Convertible Security issued on 7 June 2023 to Towards Net Zero, LLC (the \"Investor\"), details of which were announced to the market on 5 June 2023. The Second Convertible Security was issued pursuant to the Convertible Securities Issuance Deed dated 29 November 2022 as amended by Deeds of Amendment dated 2 June 2023 and 6 June 2025 (the \"Deed\"), details of which were announced to the market on 30 November 2022, 5 June 2023 and 9 June 2025 respectively.\nThe Conversion Price is 0.0152 pence per share and total of 808,811,442 new ordinary shares (the \"Conversion Shares\") fall to be issued.\nApplication will be made for the Conversion Shares to be admitted to trading on AIM. (\"Admission\"). Admission is expected to occur on or around Tuesday, 30 September 2025.\nUnder the terms of the Deed, when there is no further convertible amount outstanding, a cash payment becomes due in certain circumstances as set out in the announcement of 30 November 2022. Currently, it is estimated that amount, payable by the Company, is approximately £65,000 and the market will be notified should this prove materially different when paid.\nCommenting today, Executive Chairman Patrick Cheetham, said:\n\"We are pleased to report that, following this conversion, there is no convertible amount outstanding under the Deed. The Conversion Shares will represent a 10.35% interest in the expanded capital and the Investor will become a major shareholder in the Company. We believe that the Investor is taking a long term view of its investment and is supportive of the Company's strategy going forward.\"\nTotal Voting Rights\nFor the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Board of Sunrise hereby notifies the market that, following the issue of the Conversion Shares, the Company will have 7,812,401,836 shares in issue with each share carrying the right to one vote. There are no shares currently held in treasury. The total number of voting rights in the Company is therefore 7,812,401,836 and this figure may be used by shareholders a...