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SALE OF SHARES IN BLOCK ENERGY PLC

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RNS Number : 6703C
Sunrise Resources Plc
19 June 2019
 
SUNRISE RESOURCES PLC

(the "Company")

 

19 June 2019

 

 

 

SALE OF SHARES IN BLOCK ENERGY PLC

 

 

Sunrise Resources plc wishes to advise that it has sold its shareholding in Block Energy PLC.

 

The Company's holding of 466,474 shares in Block Energy PLC was sold on 18 June 2019 at an average price of 10.43 pence per share for gross proceeds of £48,649.

 

This represents a book profit of £23,120 after acquisition and disposal costs. The net proceeds of the sale will be added to the Company's existing cash resources and used to advance its CS Pozzolan-Perlite Project in Nevada, USA.

 

Commenting today Sunrise Executive Chairman Patrick Cheetham said: "Whilst we see a bright future for Block Energy this disposal is in line with our strategy to sell or joint venture non-core assets as an alternative to raising money from the markets as we progress our CS Project towards production."

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

.

 

Further information:

 

Sunrise Resources plc

Patrick Cheetham, Executive Chairman

Tel: +44 (0)1625 838 884

 

Beaumont Cornish Limited

Nominated Adviser

James Biddle/Roland Cornish

Tel: +44 (0)207 628 3396

 

SVS Securities Plc

Broker

Tom Curran/Ben Tadd

Tel: +44 (0)203 700 0093

 

 

Shares in the Company trade on AIM under the symbol "SRES" and also on the NEX Exchange (Secondary Market).


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Price: 0.105

Market: AIM
Market Cap: £3.25 m
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