Last checked at 19 Mar 2020 16:15
19 March 2020
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Alternate Director
GCM Resources plc (LON:GCM), an AIM quoted mining and energy company, is pleased to announce the appointment to the Board, with immediate effect, of Gary Norman Lye, as Alternate Director to your Executive Chairman, Datuk Michael Tang, PJN, solely for the purpose of matters relating to the AGM of the Company, taking place tomorrow. As such, Mr Lye's appointment will terminate at close of business on 20 March 2020. The three existing members of the Board, being Michael Tang, Keith Fulton and Mohd Najib Bin Adbdul Aziz, are unable to attend the General Meeting as a result of restrictions and advice relating to the Coronavirus pandemic.
Mr Lye has served GCM for 16 years and is currently your Chief Operating Officer and was previously a Director of the Company between 11 February 2005 and 26 June 2013. Mr Lye has worked in the mining industry for over 45 years and was instrumental in delivering the Phulbari Coal and Power Project's feasibility study and has a lead role in liaising with GCM's joint venture partners.
Further information in relation to the appointment of Mr Lye pursuant to paragraph (g) of Schedule Two or the AIM Rules for Companies appears below.
Additional Information on Mr Gary Norman Lye (Aged 67)
The following additional information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies:
Current Directorships | Past Directorships (last five years) |
Polo Resources Limited Asia Energy Corporation (Bangladesh) Pty Ltd Asia Energy Corporation Asia Energy (Bangladesh) Pvt Ltd |
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 | |
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.