REG - GCM Resources PLC - Award of options <Origin Href="QuoteRef">GCM.L</Origin>

GCM ResourcesAnnouncement

16/07/2015 08:36

RNS Number : 7063O
GCM Resources PLC
29 May 2015
29th May 2015
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Award of options
GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, announces the award of options to directors and senior management.

Number of options
Exercise price
Vesting
Expiry





Michael Tang
1,750,000
11p
1 January 2016
31 May 2020
Dato' Md Wira Dani Bin Abdul Daim
200,000
11p
1 January 2016
31 May 2020
Guy Elliott
200,000
11p
1 January 2016
31 May 2020
In addition, the terms to options previously awarded to directors have been amended as follows:
Michael Tang
Options: 2,500,000
Vesting date: 1 January 2016 (previously vested)
Exercise price: 11p (from 19.8p)
Expires: 31 May 2020 (from 28 February 2019)
Options: 3,000,000
Vesting date: 1 January 2016 (previously vested)
Exercise price: 11p (from 19.8p)
Expires: 31 May 2020 (from 31 August 2019)
Dato' Md Wira Dani Bin Abdul Daim
Options: 250,000
Vesting date: 1 January 2016 (previously vested)
Exercise price: 11p (from 19.8p)
Expires: 31 May 2020 (from 31 August 2019)
Options: 500,000
Vesting date: 1 January 2016 (previously vested)
Exercise price: 11p (from 19.8p)
Expires: 31 May 2020 (from 31 August 2019)
Guy Elliott
Options: 250,000
Vesting date: 1 January 2016 (previously vested)
Exercise price: 11p (from 19.8p)
Expires: 31 May 2020 (from 28 February 2019)
Options: 500,000
Vesting date: 1 January 2016 (previously vested)
Exercise price: 11p (from 19.8p)
Expires: 31 May 2020 (from 31 August 2019)
Senior management were awarded 475,000 options with an exercise price of 11p, vesting on 1 January 2016 and to expire on 31 May 2020 if not already exercised. They were also offered the opportunity to amend their existing options they held (1,050,000) to the same terms.
The award of options today is consistentwith the Board's authority, approved by shareholders at the Company'slastAGM. The award and changes to options are designed to compensate for salary restrictions, reward the successful completion of recent funding and to further strengthen incentives with shareholder value.
For further information:
GCM Resources plc
James Hobson
CFO & Company Secretary 
+44 (0) 20 7290 1630
Bell Pottinger
Lorna Cobbett / Joanna Boon
+44 (0) 20 7861 3232 
ZAI Corporate Finance Ltd
Nominated Adviser and Broker
Tom Price 
+44 (0) 20 7060 2220

GCM Resources plc

Tel: +44 (0) 20 7290 1630

info@gcmplc.com; www.gcmplc.com


This information is provided by RNS
The company news service from the London Stock Exchange
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