REG - GCM Resources PLC - Successful fundraising of £2m via PrimaryBid <Origin Href="QuoteRef">GCM.L</Origin>

GCM ResourcesAnnouncement

20/11/2017 07:05

RNS Number : 9051W
GCM Resources PLC
20 November 2017
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.
20 November 2017
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Successful fundraising of 2 million via PrimaryBid
GCM Resources plc, a London based resource exploration and development company, announced on 17 November 2017 the launch of an institutionally underwritten Offer to raise approximately 2 million at 34.4p per New Ordinary Share. 
The gross proceeds of the fundraising are 2 million (1.8 million net of costs).
The Company will therefore issue and allot a total of 5,813,953 New Ordinary Shares to satisfy the Offer. Application has been made to the London Stock Exchange for these New Ordinary Shares, which rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 24 November 2017.
Total Voting Rights
Following the issue of the New Ordinary Shares, the Company will have 88,175,650 ordinary shares of 10p each in issue. No Ordinary Shares are held in treasury. The figure of 88,175,650 may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Rules and Transparency Rules.
Datuk Michael Tang, Executive Chairman of GCM, commented:
"We are delighted with the positive response we have received from both new and existing shareholders. The offer through PrimaryBid has enabled private shareholders to participate on the same terms as the institutions. The funds raised will put GCM in a strong position to further the mine mouth plant proposal in Northern Bangladesh together with our strategic partner CGGC."
Defined terms in this announcement shall have the same meaning as in the Company announcement of 17 November 2017, unless otherwise specified.
For further information:
GCM Resources plc
James Hobson
Finance Director 
+44 (0) 20 7290 1630
info@gcmplc.com; www.gcmplc.com
Northland Capital Partners Ltd
Nominated Adviser and Broker
Tom Price
+44 (0) 203 861 6625


PrimaryBid Limited  
Dave Mutton
020 7491 6519

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