20th Aug 2014 16:03
LONDON (Alliance News) - Sunrise Resources PLC Wednesday said it has issued 1.7 million new shares to directors instead of cash fees as it looks to preserve cash for its exploration activities.
The decision was made on Tuesday, Sunrise said, adding that the issue of shares instead of cash is in line with current company practice.
Sunrise said that the shares were issued at 0.425 pence each, the closing mid-market price that day. The new share issuance means United Carpets will have 503.3 million shares in issue.
Sunrise Resources shares Wednesday closed down 0.6% at 0.423p.
Director name | Number of new shares issued | Interest in enlarged issued share capital | % of enlarged issued share capital |
Executive Chairman | 821,944 | *19,355,675 | 3.85% |
Senor Non-Executive Director Francis Johnstone | 614,273 | 5,943,748 | 1.18% |
Non-Executive Director | 272,838 | 2,423,522 | 0.48% |
*includes 5,500,000 shares held by K E Cheetham, the chairman's wife
By Samuel Agini; [email protected]; @samuelagini
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