REG - GCM Resources PLC - Warrants Exercised

GCM ResourcesAnnouncement

02/04/2024 13:00

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RNS Number : 9875I  GCM Resources PLC  02 April 2024

2 April 2024

GCM Resources plc

("GCM" or the "Company")

 

Warrants Exercised

 

 

GCM Resources plc (LON: GCM), an AIM quoted mining and energy company, reports
an exercise of warrants.

 

Warrant Exercise

The Company has received a notice to exercise warrants over 2,424,243 new
ordinary shares of 1 pence each in the Company ("Warrant Shares") at an
exercise price of 1.65 p per Warrant Share, raising £40,000 for the Company.

 

Application will be made to the London Stock Exchange for, in aggregate,
2,424,243 new Ordinary Shares to be admitted to AIM ("Admission"). It is
expected that Admission will become effective on 8 April 2024.  Following
Admission, the Company's enlarged issued share capital will comprise
245,596,374 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.

 

 

 

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 Bavister

  +44 (0) 20 7290 1630         Andrew De Andrade

                               +44 (0) 20 7220 1666

 GCM Resources plc
 Tel: +44 (0) 20 7290 1630
 info@gcmplc.com; www.gcmplc.com (http://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 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.

 

 

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