RNS Number : 8146Q

GCM Resources PLC

01 November 2021

GCM Resources plc

("GCM" or the "Company")

Resignation of Director

GCM Resources plc (LON:GCM), an AIM quoted mining and energy company , announces the resignation of James Hobson from his position as an Independent Non-Executive Director. James re-joined the Company in January 2021, having previously served the Company for thirteen years in an executive capacity. The Board would like to take this opportunity to thank James for his services during the current year, and to wish him success in his new full time appointment. Mr Hobson's resignation takes effect from 1 December 2021. The Company is currently in the process of recruiting a replacement Independent Non-Executive director.

The CEO of GCM, Datuk Michael Tang PJN, stated :

" I would like to thank James for his valuable contribution to GCM during 2021 and wish him well as he focuses on his new role."

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               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 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.

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(END) Dow Jones Newswires

November 01, 2021 03:00 ET (07:00 GMT)

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