GCM Resources Regulatory News (GCM)

For filings with the FSA include the annex

For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii

GCM RESOURCES PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

X

An event changing the breakdown of voting rights

Other (please specify):

Existing holding at date of implementation of new requirements.

3. Full name of person(s) subject to the notification obligation: iii

THE CHILDREN'S INVESTMENT FUND MANAGEMENT  (UK) LLP

4. Full name of shareholder(s)  (if different from 3.):iv

The Children's Investment Master Fund

Talos Capital Limited

5. Date of the transaction and date on which the threshold is crossed or reached: v

23.07.09

6. Date on which issuer notified:

27.07.09

7. Threshold(s) that is/are crossed or reached: vi, vii

 Going below 8%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

N/A

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/ Conversion Period xiv

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date xvii

Exercise/ Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Equity Swap

N/A

N/A

N/A

4,058,185

Nominal

Delta

7.96%

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

4,058,185

7.96%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi

The Children's Investment Fund Management (UK) LLP has been appointed as Investment Manager for The Children's Investment Master Fund and Talos Capital Limited. Under the terms of the various investment management agreements, The Children's Investment Fund Management (UK) LLP holds the power to vote any physical shareholdings held by these clients.

.

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:

Richard Brimelow

15. Contact telephone number:

0207 2901630