GCM Resources PLC Share Issue (7835J)
April 15 2020 - 10:00AM
UK Regulatory
TIDMGCM
RNS Number : 7835J
GCM Resources PLC
15 April 2020
15 April 2020
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Share issue
GCM Resources plc ("GCM" or the "Company"), a n AIM quoted
mining and energy company , announces that it has received
notification from Raof Daud, a former director, to exercise 200,000
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, GBP22,000.
Application has been made for the Option Shares to be admitted
to trading on AIM, which is expected to become effective on 21
April 2020 ("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 112,560,009 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 Strand Hanson Limited
Keith Fulton Nominated Adviser and Broker
Finance Director Stuart Faulkner
+44 (0) 20 7290 1630 Rory Murphy
James Dance
+44 (0) 20 7409 3494
GCM Resources plc
Tel: +44 (0) 20 7290 1630
info@gcmplc.com; 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 rns@lseg.com or visit www.rns.com.
END
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