"I am pleased to be acquiring a further stake in Sunrise at this exciting stage in the company's development,” Cheetham said in a statement.
() told investors that its chairman Patrick Cheetham has increased his shareholding in the company, buying 31.5mln shares.
Cheetham acquired the shares from Tertiary Minerals at a price of 0.08p per share, the market price at the time of the transaction. It sees Cheetham’s stake in the company increase to 4.57%.
"I am pleased to be acquiring a further stake in Sunrise at this exciting stage in the company's development," Cheetham said in a statement.
"The board expects its working relationship with Tertiary will be unaffected by this transaction as Tertiary continues to provide management services to Sunrise at cost, to the benefit of both companies."
Cheetham is also chairman of Tertiary Minerals which retains a 2.89% interest.
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