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GCM Gcm Resources Plc

0.00 (0.00%)
Last Updated: 09:41:44
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gcm Resources Plc LSE:GCM London Ordinary Share GB00B00KV284 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 5.50 5.25 5.75 5.75 5.375 5.75 363,769 09:41:44
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Coal Mining Services 0 -1.32M -0.0056 -10.04 13.37M

GCM Resources PLC Warrants Exercised

07/03/2024 7:00am

RNS Regulatory News

RNS Number : 9073F
GCM Resources PLC
07 March 2024

7 March 2024

GCM Resources plc

("GCM" or the "Company")


Warrants Exercised


Share issue - Consultants & Director


Director/PDMR Shareholding



GCM Resources plc (LON: GCM), an AIM quoted mining and energy company, reports an exercise of warrants.


Warrant Exercise

The Company has received a notice to exercise warrants over 606,060 new ordinary shares of 1 pence each in the Company ("Warrant Shares") at an exercise price of 1.65 p per Warrant Share, raising £10,000 for the Company.


Consultant's Shares

The Company also announces the issuance of new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") as payment of consulting fees in accordance with the consultancy agreement announced on 22 August 2022, with DG Infratech Pte Ltd ("DG") (the "DG Agreement") (together, the "Agreement").


The Agreement provides that new Ordinary Shares would be awarded to DG, and thus the following monthly consulting fee will be settled via the issuance of new Ordinary Shares:

·      in lieu of DG's retainer fee for the period from 1 January 2023 to 31 December 2023 of £180,000, the Company will issue 4,363,636 new Ordinary Shares to DG.


GCM confirms that following the issue of new Ordinary Shares, DG will be interested in 4.165% of the Company's enlarged issued ordinary share capital.


Under the terms of the DG Agreement, there are no restrictions on disposal of the shares issued in respect of the retainer fees issued to DG, which are intended to cover the respective consultants' costs in performing their services. 


Director Shares

GCM also announces the issue of a total of 377,359 new ordinary shares of £0.01 each in the Company ("New Ordinary Shares") to Keith Fulton, for payment of his services as Executive Director of the Company for the period 1 January 2023 to 31 December 2023 of £10,000, as part of his director remuneration agreement from June 2019.


On Admission, Keith Fulton will have an interest in 1,400,702 Shares, representing approximately 0.57 per cent. of the issued share capital of the Company, as enlarged by the Fee Shares. The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.



Application will be made to the London Stock Exchange for, in aggregate, 5,347,055 new Ordinary Shares to be admitted to AIM ("Admission"). It is expected that Admission will become effective on 11 March 2024.  Following Admission, the Company's enlarged issued share capital will comprise 243,171,131 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.




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



WH Ireland Ltd

James Joyce

James Bavister

Andrew De Andrade

+44 (0) 20 7220 1666



GCM Resources plc

Tel: +44 (0) 20 7290 1630;



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 can support some 6,600MW. GCM requires approval from the Government of Bangladesh in order to develop the Project. The Company has a strategy of linking the Company's mine proposal to supplying coal to the Government of Bangladesh's existing and in the pipeline coal-fired power plants and / or power plants developed development partners. Together with credible, internationally recognised strategic development partners, GCM aims to deliver a practical power solution to provide the cheapest coal-fired electricity in the country, in a manner amenable to the Government of Bangladesh.




Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.  


Details of the person discharging managerial responsibilities / person closely associated



Keith Fulton


Reason for the notification



Executive Director



Initial notification /Amendment

Initial notification



Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor



GCM Resources Plc






Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted



Description of the financial instrument, type of instrument

 Identification code

Ordinary Shares of 1p each


Identification code (ISIN) for GCM Resources plc ordinary shares:



Nature of the transaction

Issue of ordinary shares in consideration of payment of director fees



Price(s) and volume(s)








Aggregated information

- Aggregated volume

- Price




Date of the transaction

5 March 2024


Place of the transaction

Outside a trading venue



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