GCM Resources Regulatory News (GCM)

25 June 2019

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM) 

Share issue

GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, announces that it has received notification from James Hobson, a former director, to exercise 425,000 options ("Options") over new ordinary shares of 10 pence each in the capital of the Company (the "Option Shares") at a price of 11 pence per Option Share. The consideration received by the Company on the exercise of the Options is, in aggregate, £46,750.

Application has been made for the Option Shares to be admitted to trading on AIM, which is expected to become effective on 28 June 2019 ("Admission"). The Option Shares will rank pari passu with the ordinary shares of the Company in issue.

Following Admission, the Company's enlarged issued share capital will comprise 98,638,655 ordinary shares with voting rights in the Company. As the Company holds no shares in treasury, this is the total number of the voting rights in the Company which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change in the interest, in the share capital of the Company under Chapter 5 of the FCA's Disclosure Guidance and Transparency Rules as reflected in the Company's articles of incorporation.

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.