TIDMGCM
RNS Number : 8339U
GCM Resources PLC
30 March 2023
30 March 2023
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Share issue - Consultants & Director
Director/PDMR Shareholding
GCM Resources plc, a n AIM quoted mining and energy company ,
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 26 October 2018 and extended on 29 June 2020, with
Dyani Corporation Limited ( " Dyani" ) (the "Dyani Agreement"), and
in accordance with the consultancy agreement announced on 22 August
2022, with DG Infratech Pte Ltd ( " DG ") (the " DG Agreement " )
(together, the "Agreements") .
The Agreements provide that new Ordinary Shares would be awarded
to Dyani and DG, and thus the following monthly consulting fees
will be settled via the issuance of new Ordinary Shares:
-- in lieu of Dyani's retainer fee for the period from 1 April
2022 to 30 June 2022 of GBP75,000, the Company will issue 535,714
new Ordinary Shares to Dyani;
-- in lieu of DG's retainer fee for the period from 1 January
2022 to 31 December 2022 of GBP180,000, the Company will issue
4,363,636 new Ordinary Shares to DG.
GCM confirms that following the issue of new Ordinary Shares,
Dyani will be interested in 15.20% of the Company ' s enlarged
issued ordinary share capital.
Under the terms of the Dyani & DG Agreements, there are no
restrictions on disposal of the shares issued in respect of the
retainer fees issued to either Dyani or 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 317,460 new ordinary
shares of GBP0.01 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 2022 to 31 December 2022 of
GBP10,000, as part of his director remuneration agreement from June
2019.
On Admission, Keith Fulton will have an interest in 1,023,343
Shares, representing approximately 0.55 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, 5,216,810 new Ordinary Shares to be admitted to AIM
("Admission"). It is expected that Admission will become effective
on 5 April 2023. Following Admission, the Company's enlarged issued
share capital will comprise 187,522,036 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 for the purposes
of Article 7 of the UK version of Regulation (EU) No 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
For further information:
GCM Resources plc WH Ireland Ltd
Keith Fulton James Joyce
Finance Director Andrew de Andrade
+44 (0) 20 7290 1630 +44 (0) 20 7220 1666
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 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.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Keith Fulton
------------------------ ----------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Executive Director
------------------------ ----------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------ ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name GCM Resources Plc
------------------------ ----------------------------------------------
b) LEI 213800MXX5QHZNHCDU55
------------------------ ----------------------------------------------
4 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
------------------------------------------------------------------------
a) Description of Ordinary Shares of 1p each
the financial
instrument, type Identification code (ISIN) for GCM Resources
of instrument plc ordinary shares:
Identification GB00B00KV284
code
------------------------ ----------------------------------------------
b) Nature of the Issue of ordinary shares in consideration
transaction of payment of director fees
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 3.15 317,460
----------
------------------------ ----------------------------------------------
d) Aggregated information
- Aggregated N/A
volume
- Price
------------------------ ----------------------------------------------
e) Date of the transaction 30 March 202 3
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
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END
DSHSDFFISEDSELD
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March 30, 2023 11:44 ET (15:44 GMT)
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