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I was told that the potential non exec who was at the meeting was flying out to meet Tang, I honestly cant remember who said it, it wasnt Gary or Keith though, and there were ongoing conversations with shareholders for over an hour after the AGM finished . It was the most vibrant GCM event I have attended
A couple of the ongoing myriad reasons from one paper today whh the BD govt is changing direction on use of it’s own coal, all part of the bigger picture with a fundamental issue that has to be addressed.
https://www.daily-sun.com/post/737061
https://www.daily-sun.com/post/737173
Re Facility ro raise funds
If you look at last years resolutions you will see exactly the same wording and there were no shares issued at 1p in the past year, it's just the nominal value nothing to do with the actual price
That is just how the shares are registered at a 'nominal' price , that is not the price any subscription shares would be sold at, see the companies website, where the shares are all listed at 1p despite them currently being 2.65p
Nominal Amount: £2,075,220
Number: 207,522,036
Ordinary shares of 1p each
http://www.gcmplc.com/shareholders/share-capital
Great to see trading commence again tomorrow. The RNS from 29th Jan was the most comprehensive and optimistic I can recollect. I know what my intentions are tomorrow, be very interesting to see where it goes. You can choose your own highlights, think it's going to get very interesting
http://www.gcmplc.com/sites/default/files/2024-01/GCM_Resources_ARA_2023_Final_Glossy.pdf
N 2024 17:20
RNS Number : 8215A
GCM Resources PLC
24 January 2024
24 January 2024
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Requisition Notice
GCM Resources plc, an AIM quoted mining and energy company, announces that it today received a notice from Polo Investments Limited ("Polo"), pursuant to Section 168 of the Companies Act 2006, requesting that a resolution to remove Christian Taylor-Wilkinson be tabled, as an ordinary resolution, at the forthcoming Annual General Meeting of the Company or a general meeting of GCM to be convened as soon as practicable. Polo currently holds 43,328,003 shares representing 20.9% of the Company's total voting rights.
In the event that Christian Taylor-Wilkinson is voted off the board or otherwise leaves the Company, the board would comprise three executive directors, and no non-executive directors, falling short of the minimum guidance set out in the QCA Corporate Governance Code and raising questions about the efficacy of the Board as a whole, and the appropriateness of the Company to be trading on AIM.
WH Ireland, the Company's Nominated Adviser ("Nomad"), has advised that if such a circumstance occurs the Company would therefore have to add a number of independent non-executive directors to the board in the short term. If such additions to the board are not made to WH Ireland's satisfaction , it is highly likely that the WH Ireland would tender its resignation with immediate effect.
Pursuant to Rule 1 of the AIM Rules for Companies, if a company ceases to have a Nomad the Exchange will suspend trading in its AIM securities with immediate effect. If a new Nomad is not appointed within one month of the date of resignation of the original Nomad, this will result in the Company's ordinary shares being delisted from AIM and the Company's admission to AIM being cancelled.
RichieRich
See below link, many shareholders are concerned that if the Polo resolution to remove Christian as a Director is passed because the Nomad will resign immediately too unless there are other NEDs in place which in turn leads to automatic suspension, see previous RNS's and hence the interest in casting their votes
http://www.gcmplc.com/sites/default/files/2024-01/GCM_Resources_Plc-2023_AGM_Notice_Final.pdf
I have 2 IG accounts, received separate emails this morning allowing me to vote online, if you have one of their accounts you should get an email this week allowing the same, if not contact them. As mentioned below if you are attending the AGM you will still need to pay them the £100 plus VAT for the letter, even if you are attending you should still vote online with them
Your Vote Counts!
GCM RESOURCES PLC
2024 ANNUAL GENERAL MEETING
Vote by 23-FEB-2024
Please note that IG charges a fee for arranging your personal attendance at an annual general meeting. For further details, please refer to IG’s website.
W2CNY
It's not my place to tell others how to vote but if you look at last years resolutions you will see a similar request only it was shares to a value of £800,000 then not £1,500,000 In my understanding and in my experience this is pretty standard where companies will or may need to fundraise, it gives the directors the option of raising funds though the issue of shares without having to call an EGM for approval. The authority will expire after a year and need to be requested again at next AGM .
Here is a link to last years AGM notice
http://www.gcmplc.com/sites/default/files/2023-01/gcm-2022-agm-notice.pdf
The saga continues, The Textile sector is vital to their economic growth, more pressure to make fast sensible energy choices
'In the first month of 2024, the production in the sector has come down to 40 per cent as the supply of gas remained suspended in many industrial belts, he claimed.
‘The government is inviting foreign investors to make investments in special economic zones, but the authorities are failing to provide gas supply. If the situation continues, new investments will not take place in the country,’ the BTMA president said.
‘As far as I know, the country’s textile sector has not witnessed any new investments in capital machinery in 2023,’ Khokon said.'
https://www.newagebd.net/article/224082/no-new-investment-in-textile-sector-in-2023-btma
Give interactive a call, or email them, they will tell you what you need to do, they will provide a letter with your personal holdings but like ii they will require some documentation from you, some brokers now have an online voting system for their clients where you get to place your votes which might make the voting easier on Mars, prior to the AGM they will send the cumulative totals to GCM.
Was sorry to hear about Marv, hope to see you at the AGM
AGM info and Resolutions etc are now available on the company website at this location. Everyone ones vote matters no matter what you vote.
http://www.gcmplc.com/sites/default/files/2024-01/GCM_Resources_Plc-2023_AGM_Notice_Final.pdf
If you are going to attend the AGM you will need a letter from your broker stating your holding in order to get in, depending on the broker these letters can take a coupe of weeks to arrive (they are posted). Some brokers will charge you for the letter , others don't as an example up to now Barclays don't charge but ask for 2 weeks notice, IG charge £100 for the letter, my suggestion from experience is apply as soon as possible, whether you have a letter saying reflecting 1 share or a million you will need it to gain entry., hope to see you there
Change to subscription - seems there was a typo, so allenby have the option to go in for £50k at 1.65, nice
'In addition, Allenby Capital Limited, who are acting as agent in respect of the Subscription, will be issued with 3,030,303 warrants to subscribe for new Ordinary Share at a price of 1.65 pence per Ordinary Share exercisable for a period of 3 years from Admission.'