GCM Resources PLC Results of AGM and Capital Reorganisation (3886Q)
26 February 2021 - 12:17AM
UK Regulatory
TIDMGCM
RNS Number : 3886Q
GCM Resources PLC
25 February 2021
25 February 2021
GCM Resources plc
("GCM" or the "Company")
Results of AGM and Capital Reorganisation
GCM Resources plc (LON: GCM), an AIM quoted mining and energy
company , reports that at the annual general meeting, held today
all of the ordinary and special resolutions, as set out in the
notice of meeting, were duly passed.
Responses to the questions posed by Shareholders for the AGM
will be posted to the Company website shortly and can be viewed at
http://www.gcmplc.com/shareholders/presentations .
Capital Reorganisation
As a result of the passage of resolution 8, each of the issued
ordinary shares of 10 pence each in the capital of the Company
("Existing Ordinary Shares") be subdivided into one New Ordinary
Share of 1 pence and one deferred A share of 9 pence.
Application has been made for 118,581,630 New Ordinary Shares of
1 pence each to be admitted to trading on AIM ("Admission") in
place of 118,581,630 Existing Ordinary Shares of 10 pence each. It
is expected that Admission will become effective on 26 February
2021.
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 WH Ireland Ltd
Keith Fulton James Joyce
Finance Director James Sinclair-Ford
+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), an 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 coal-fired
electricity in the country, in a manner amenable to the Government
of Bangladesh.
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END
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