Sunrise Resources Issues New Shares to Settle Director Fees

The latest announcement is out from Sunrise Resources ( (GB:SRES) ).

Sunrise Resources plc has announced the issuance of 93,021,463 new Ordinary Shares to settle outstanding director fees for the period from April 2024 to February 2025. This move is part of the company’s strategy to conserve cash for its project activities. The new shares, issued at 0.0205 pence each, will be admitted to trading on AIM, increasing the company’s total share capital with voting rights to 5,533,002,159 Ordinary Shares. This issuance allows the company to maintain liquidity while compensating its directors, potentially impacting shareholder calculations under the Financial Conduct Authority’s rules.

More about Sunrise Resources

Sunrise Resources plc is a company operating in the resource sector, focusing on the development and exploration of mineral projects. Its primary products and services involve the extraction and processing of minerals, with a market focus on leveraging its mineral assets to generate value.

YTD Price Performance: -33.33%

Average Trading Volume: 7,892,613

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £1.12M

See more data about SRES stock on TipRanks’ Stock Analysis page.