Last checked at 11 Jan 2021 07:00
11 January 2021
GCM Resources plc
("GCM" or the "Company")
Appointment of Nominated Adviser and Broker
Restoration of Trading and Board Changes
GCM Resources plc (LON:GCM), an AIM quoted mining and energy company, is pleased to announce the appointment of WH Ireland Limited as its Nominated Adviser and Broker with immediate effect.
Board Changes
The Board is pleased to announce a Board reorganisation, effective from 8 January 2021, which will see Mr. Mohd. Najib Bin Abdul Aziz move from Independent Non-Executive Director to Independent Non-Executive Chairman of the Board, with Datuk Michael Tang PJN continuing as Executive Director and Chief executive Officer ("CEO").
The Company is also pleased to announce the appointment to the Board, with immediate effect, of James Hobson as a Non-Executive Director.
Mr Hobson has over 20 years finance and corporate experience, predominantly in energy, mining and international development of which 13 years were previously spent with GCM, including 3 years as the Company's Finance Director. Mr Hobson is currently the CFO of ADC Energy UK and is a Fellow of the Institute of Chartered Accountants in Australia and is based in London.
The CEO of GCM, Datuk Michael Tang PJN, stated:
"I would like welcome James Hobson's return to GCM, to enhance the Board and with his wealth of experience and knowledge of GCM's history he will once again be a valuable asset to the future of the Company and Project."
Further information in relation to the appointments of Mr Hobson pursuant to paragraph (g) of Schedule Two or the AIM Rules for Companies appears below.
Current Directorships / Partnerships | Past Directorships / Partnerships (last five years) |
n/a | ADCUK Ltd Asia Energy Corporate Pty Ltd Asia Energy (Bangladesh) Pvt Ltd Asia Energy Corporation (Bangladesh) Pty Ltd GCM Resources Plc South African Coal Limited
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Mr. Hobson was also a director of GCM Resources Singapore Pte Ltd, China Coal Ltd, (both companies were previously subsidiaries of GCM Resources plc), and, Cinco Consulting Ltd and Sabedoria Consulting Ltd which were dissolved during Mr. Hobson's tenure as director on 5 April 2018, 4th June 2014, 7th August 2012 and 21st July 2010 respectively.
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Mr. James Graham Hobson (aged 43) has confirmed that there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 of the AIM Rules.
Restoration of Trading
Following publication of this announcement, appointing WH Ireland as the Company's Nominated Adviser, trading in the Company's shares on AIM will resume at 8.am today.
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.
For further information:
GCM Resources plc Keith Fulton Finance Director +44 (0) 20 7290 1630
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WH Ireland Ltd James Joyce James Sinclair-Ford +44 (0) 20 7220 1666 |
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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.