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Sunrise Diamonds plc

Notes to the Financial Statements

continued

17. Related party transactions Directors and directors’ interests The directors holding office in the period and their beneficial interests in the share capital of the Company are:

Shares Number

Warrants Number Exercise price

Expiry date

Shares Number

Warrants Number

P L Cheetham*

9,826,062

500,000 500,000 500,000 2,000,000

2.000p 2.750p 2.000p 0.575p

06/06/10 06/12/11 31/10/13 08/12/14

8,700,000

1,500,000

At 30 September 2009

At 30 September 2008

F P H Johnstone 2,558,448

500,000 250,000 250,000 1,000,000

2.000p 2.750p 2.000p 0.575p

06/06/10 06/12/11 31/10/13 08/12/14

1,435,245

1,000,000

N L Herbert

2,450,128

500,000 250,000 250,000 1,000,000

2.000p 2.750p 2.000p 0.575p

06/06/10 06/12/11 31/10/13 08/12/14

1,410,689

1,000,000

  • *

    Includes 5,500,000 shares held by K E Cheetham, wife of P L Cheetham.

Tertiary Minerals plc Sunrise Diamonds plc is treated as an investment in the consolidated accounts of Tertiary Minerals plc, which held 13.71% of the issued share capital on 30 September 2009 (2008: 13.97%).

Tertiary Minerals plc provides management services to Sunrise Diamonds plc and consequently during the year the Company incurred costs of £103,645 recharged from Tertiary Minerals plc being shared overheads of

£13,886, costs paid on behalf of the Company of £3,055, staff salary costs of £43,691 and directors’ salary costs of £43,013.

At the balance sheet date an amount of £37,183 was due to Tertiary Minerals plc, which was repaid in October 2009.

Patrick Cheetham, the Chairman of the Company is also a director of Tertiary Minerals plc. Donald McAlister, a

director of Tertiary Minerals plc, holds 550,000 shares in the Company and David Whitehead, also a director of Tertiary Minerals plc, holds 500,000 shares in the Company at 30 September 2009 and at the date of this report.

18. Post balance sheet event There were no material post balance sheet events up to the date of this report.

19. Capital management The Company’s capital requirements are dictated by its project and overhead funding requirements from time to time. Capital requirements are reviewed by the Board on a regular basis.

26

www.sunrisediamonds.com

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