Last checked at 21 Feb 2013 14:05
21st February 2013
GCM Resources plc
(the "Company" or "GCM Resources")
(AIM:GCM)
Changes to Directors options
GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, announces the following changes to the options awarded to directors.
Options cancelled:
Options | Exercise price | Expiry | |
Gerard Holden | 800,000 | £1.00 | 30 April 2015 |
Gerard Holden | 200,000 | £1.00 | 29 November 2014 |
Stephen Dattels | 400,000 | £1.00 | 30 April 2015 |
Stephen Dattels | 100,000 | £0.66 | 3 years from vesting |
Gary Lye | 120,000 | £1.00 | 29 November 2014 |
New options issued:
Options | Exercise price | Expiry | |
Gerard Holden | 1,000,000 | £0.40 | 29 February 2016 |
Stephen Dattels | 500,000 | £0.40 | 29 February 2016 |
Gary Lye | 500,000 | £0.40 | 29 February 2016 |
Greg James, Non-Executive Director said: "Since recent Board changes the amount of workload for Gerard, Stephen and Gary has increased and the Board believes that this restructuring of the options will ensure that key directors remain fully incentivised to maximise value for shareholders."
For further information:
GCM Resources plc Gerard Holden Non-Executive Chairman +44 (0) 20 7290 1630
| Pelham Bell Pottinger Lorna Spears / Joanna Boon +44 (0) 20 7861 3232
|
J.P. Morgan Cazenove Nominated Adviser Michael Wentworth-Stanley +44 (0) 20 7742 4000 | Investec Investment Banking Chris Sim +44 (0) 20 7071 4300
|
GCM Resources plc | |
Tel: +44 (0) 20 7290 1630, Fax: +44 (0) 20 7290 1631 | |
info@gcmplc.com; www.gcmplc.com |