Business
Issue of Equity by Sunrise Resources PLC
Issue of Equity by Sunrise Resources PLC.
About this update from Tertiary Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 3793R Tertiary Minerals PLC 08 March 2016 \n\n08 March 2016\n \nTertiary Minerals plc \n(\"Tertiary\" or \"the Company\")\n \nIssue of Shares by Sunrise Resources PLC\n \n \nTertiary Minerals plc, the AIM traded company (\"the Company\") building a strategic position in the fluorspar sector, is pleased to announce that on 7 March 2016 the Board of Sunrise Resources PLC (\"Sunrise\") resolved to issue 49,298,406 new ordinary shares of 0.1p each of Sunrise (\"the New Shares\") to Tertiary in settlement of management fees of £86,272.21 due to the Company for the six month period ended 31 December 2015. \n \nSince the formation of Sunrise, Tertiary has provided, and continues to provide, Sunrise with office facilities and company and project management services at cost. This cost sharing arrangement works to the benefit of both companies and enables them to be run with reduced overheads.\n \nFollowing the issue of the New Shares, Tertiary will hold 102,234,999 ordinary shares of Sunrise, representing an interest of approximately 13.70% of the enlarged issued capital of Sunrise.\n \nApplication will be made for the New Shares to be admitted to trading on AIM. Admission is expected to occur on 14 March 2016.\n \n\n\n\n\nEnquiries\n \nTertiary Minerals plc\nPatrick Cheetham, Executive Chairman \nRichard Clemmey, Managing Director\n\n\n \n \n+44 (0)1625 838 679 \n\n\n\n\n \nSP Angel Corporate Finance LLP\nNominated Adviser & Joint Broker \nEwan Leggat / Tercel Moore \n \n\n\n \n+44 (0)20 3470 0470\n\n\n\n\nBeaufort Securities Ltd\nJoint Broker\nJon Belliss / Elliot Hance\n \n\n\n \n+44 (0)20 7382 8300\n\n\n\n\n \nNotes to Editors\nTertiary Minerals plc (ticker symbol 'TYM') is an AIM-quoted mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project).\n \n...