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Sunrise Resources settles retiring director's fees in shares

Published: 10:47 12 May 2016 BST

A roll of £20 notes. Johnstone is taking shares in lieu of cash
Issuing shares to Johnstone will conserve Sunrise's cash reserves

Francis Johnstone, who retired as a non-executive director of Sunrise Resources Plc (LON:SRES) this week, is to take Sunrise shares in lieu of fees outstanding.

In all, Johnstone will receive 1.84mln shares in lieu of director fees for 2016. The shares were issued at an effective price of 0.14p, and take Johnstone's stake in the company up to 1.34% of the enlarged issued share capital.

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