Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, is pleased to announce that earlier today, the Board of Sunrise Resources PLC resolved to issue 22,332,230 new ordinary shares of 0.1p each of Sunrise to Tertiary in settlement of £30,148.51 of management fees outstanding at 31 December 2016.
Since 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.
Following the issue of the New Shares, Tertiary will hold 136,454,787 Ordinary Shares of Sunrise, representing an interest of approximately 11.23% of the enlarged issued capital of Sunrise.
Application will be made for the New Shares to be admitted to trading on AIM. Admission is expected to occur on or around 7 February 2017.
Notes to Editors
Tertiary Minerals (TYM) is an AIM-traded 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).
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Enquiries
Tertiary Minerals plc Patrick Cheetham, Executive Chairman Richard Clemmey, Managing Director
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+44 (0)1625 838 679 |
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SP Angel Corporate Finance LLP Nominated Adviser & Joint Broker# Ewan Leggat /Lindsay Mair
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+44 (0) 20 3470 0470 |
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Beaufort Securities Ltd Joint Broker Elliot Hance
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+44 (0)20 7382 8300 |
| Brand Communications
Alan Green |
+44 (0)7976 431608 |
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Notes to Editors |
Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded 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).