GCM Resources Regulatory News (GCM)

For filings with the FSA include the annex

For filings with issuer exclude the annex 

TR-1: Notifications of Major Interests in Shares

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

GCM Resources PLC 

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

X

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

An event changing the breakdown of voting rights

Other (please specify):______________

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

Southpoint Capital Advisors LP

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

Southpoint Master Fund LP

5. Date of transaction (and date on which the threshold is crossed or reached if different):

27 May 2008

6. Date on which issuer notified:

30 May 2008

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

3%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible use 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

Percentage of voting rights

Direct

Indirect

Direct

Indirect

GB00B00KV284 1,371,022 2.81% 1,516,022 0   1,516,022 0% 3.11%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

NA

NA

NA

NA

NA

Total (A+B)

Number of voting rights

Percentage of voting rights

1,516,022

3.11

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

Southpoint Capital Advisors LP (Delaware limited partnership) is the investment manager of the following entities:

i) Southpoint Qualified Fund LP (Delaware limited partnership 3(c)(7) Fund)(the "QP Fund"); 

ii) Southpoint Fund LP (Delaware limited partnership 3(c)(1) Fund)(the "LP Fund"); 

iii) Southpoint Offshore Fund, Ltd. (Cayman Islands  Exempted Company) (the "Offshore Fund") and 

(iv) Southpoint Master Fund, LP (Cayman Islands Exempted Limited Partnership).

The QP Fund, the LP Fund and the Offshore Fund are each a GP of Southpoint Master Fund, LP (Cayman Islands Exempted Limited Partnership) who is the direct holder of the shares. 

Proxy Voting:

10. Name of proxy holder:

NA

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

NA

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

NA

13. Additional information:

Email contact: 

nemsera@southpoint-capital.com

14 Contact name:

Adam P. Nemser

15. Contact telephone name:

Phone: (212) 692-6349 Fax: (212) 692-6355

eFax: (212) 954-5162