REG - GCM Resources PLC - Issue of Equity and PDMR dealing

GCM ResourcesAnnouncement

04/04/2025 07:00

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RNS Number : 6071D  GCM Resources PLC  04 April 2025

4 April 2025

GCM Resources plc

("GCM" or the "Company")

 

Issue of Equity, Total Voting Rights

And

PDMR dealing

 

GCM Resources plc (LON: GCM), an AIM quoted mining and energy company,
announces the issue of new ordinary shares of 1 pence each in the capital of
the Company ("Ordinary Shares") to certain consultants and a director of the
Company.

 

Consultants' Shares

 

Dyani Agreement

 

In accordance with the consultancy agreement announced on 8 January 2025, with
Dyani Corporation, Ltd. ("Dyani") (the "Dyani Agreement"), Dyani will receive
1,993,545 new Ordinary Shares as payment in lieu of Dyani's accrued retainer
fee of £75,000 for the period from 1 January 2025 to 31 March 2025. Under the
terms of the Dyani Agreement, there are no restrictions on disposal of the new
Ordinary Shares issued in respect of the retainer fees issued to Dyani, which
are intended to cover the respective consultants' costs in performing their
services.

 

DG Agreement

 

The Company also announces the issuance of new Ordinary Shares as payment of
consulting fees in accordance with the consultancy agreement announced on 28
January 2025, with DG Infratech Pte Ltd ("DG") (the "DG Agreement") (together,
the "Agreement"). In accordance with the Agreement, DG will receive 956,901
new Ordinary Shares as payment in lieu of DG's accrued retainer fee of
£36,000 for the period from 1 January 2025 to 31 March 2025. Under the terms
of the DG Agreement, there are no restrictions on disposal of the new Ordinary
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

 

In accordance with Keith Fulton's director's remuneration agreement from June
2019, GCM also announces the issue of 540,541 new Ordinary Shares to Keith
Fulton, as payment in lieu of £10,000, which represents his services as
Executive Director of the Company for the period from 1 January 2024 to 31
December 2024. The new Ordinary Shares are being issued at a deemed issue
price of 1.85 pence per new Ordinary Share.

 

Changes to PDMR and substantial shareholdings

 

As a result of the issue of the new Ordinary Shares, the Company is aware of
the following changes to shareholders in the Company on Admission (as defined
below):

 

 Name                     Total Ordinary Shares currently held                                        Total Ordinary Shares held on Admission  Percentage of enlarged share capital on Admission
 Dyani Corporation, Ltd.                                                                              51,910,085                               15.44%
                          49,916,540
 Polo Resources Limited                                                                               43,328,003                               12.88%
                          43,328,003
 DG Infratech Pte Ltd                                                                                 15,463,419                               4.60%
                          14,506,518
 Keith Fulton                                                                                         1,941,243                                0.58%
                          1,400,702

 

The FCA notification in respect of the PDMR dealing, made in accordance with
the requirements of the UK Market Abuse Regulation, is appended further below.

 

Admission and Disclosure Guidance and Transparency Rules

Application has been made to the London Stock Exchange for, in aggregate,
3,490,987 new Ordinary Shares to be admitted to AIM ("Admission"). It is
currently anticipated that Admission will become effective and that dealings
in the new Ordinary Shares will commence on AIM at 8.00 a.m. on or around 10
April 2025.

 

Following Admission, the Company's issued ordinary share capital will comprise
336,292,123 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.

 

 

For further information:

 GCM Resources plc                                 Tel: +44 (0) 20 7290 1630

 Keith Fulton, Finance Director                    info@gcmplc.com

                                                   www.gcmplc.com (http://www.gcmplc.com)

 Allenby Capital Limited                           Tel: +44 (0)20 3328 5656

 Nominated Adviser and Joint Broker                info@allenbycapital.com (mailto:info@allenbycapital.com)

 John Depasquale / Vivek Bhardwaj / Ashur Joseph

 Axis Capital Markets Limited                      Tel: +44 (0) 203 026 0320

 Joint Broker

 Richard Hutchison / Lewis Jones

 

 

About GCM Resources

GCM Resources plc (LON: GCM), the AIM resource exploration and development,
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 /Amendment                              Initial notification

 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 the financial instrument, type of instrument  Ordinary Shares of 1p each

       Identification code

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

GB00B00KV284

 b)   Nature of the transaction                                    Issue of new ordinary shares in consideration of payment of director fees

 c)   Price(s) and volume(s)                                        Price(s)   Volume(s)
                                                                   1.85        540,541

 
 d)   Aggregated information

      - Aggregated volume                                          N/A

      - Price
 e)   Date of the transaction                                      3 April 2025
 f)   Place of the transaction                                     London Stock Exchange, XLON

 

d)

Aggregated information

- Aggregated volume

- Price

 

N/A

e)

Date of the transaction

3 April 2025

f)

Place of the transaction

London Stock Exchange, XLON

 

 

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