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RNS Number : 2530D
GCM Resources PLC
25 June 2019
 

25 June 2019

 

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM) 

 

Share issue

 

GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, announces that it has received notification from James Hobson, a former director, to exercise 425,000 options ("Options") over new ordinary shares of 10 pence each in the capital of the Company (the "Option Shares") at a price of 11 pence per Option Share. The consideration received by the Company on the exercise of the Options is, in aggregate, £46,750.

 

Application has been made for the Option Shares to be admitted to trading on AIM, which is expected to become effective on 28 June 2019 ("Admission"). The Option Shares will rank pari passu with the ordinary shares of the Company in issue.

 

Following Admission, the Company's enlarged issued share capital will comprise 98,638,655 ordinary shares with voting rights in the Company. As the Company holds no shares in treasury, this is the total number of the voting rights in the Company which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change in the interest, in the share capital of the Company under Chapter 5 of the FCA's Disclosure Guidance and Transparency Rules as reflected in the Company's articles of incorporation.

 

 

 

For further information:

 

GCM Resources plc

Keith Fulton

Finance Director

+44 (0) 20 7290 1630

 

Strand Hanson Limited

Nominated Adviser and Broker

Stuart Faulkner

Rory Murphy

James Dance

+44 (0) 20 7409 3494



GCM Resources plc


Tel: +44 (0) 20 7290 1630


[email protected]; www.gcmplc.com


 

 

About GCM Resources

GCM Resources plc (LON:GCM), the AIM listed mining and energy company, has identified a high quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project (the Project) in north-west Bangladesh.

 

Utilising the latest highly energy efficient power generating technology the Phulbari coal mine is capable of supporting power plants of up to 6,000MW. GCM is awaiting approval from the Government of Bangladesh to develop the Project. The Company has a strategy of combining the Company's mine proposal with up to 6,000MW of power generation, together with credible, internationally recognised strategic partners. GCM aims to deliver a practical power solution to provide the cheapest electricity in the country, in a manner amenable to the Government of Bangladesh.

 

 


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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Quick facts: GCM Resources

Price: 12.5

Market: AIM
Market Cap: £12.33 m
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