Award of options

RNS Number : 2904C

GCM Resources PLC

14 March 2014

 

14^th March 2014

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 options awarded to directors and employees.

		Number of options	Exercise price	Vesting	Expiry
Michael Tang		3,000,000	19.8p	1 September 2014	31 August 2019
Dato' Md Wira Dani Bin Abdul Daim		250,000	19.8p	14 March 2014	28 February 2019
Dato' Md Wira Dani Bin Abdul Daim		500,000	19.8p	1 September 2014	31 August 2019
Guy Elliott		500,000	19.8p	1 September 2014	31 August 2019
Gary Lye		150,000	19.8p	1 September 2014	31 August 2019
James Hobson		150,000	19.8p	1 September 2014	31 August 2019
Anwar Islam		150,000	19.8p	1 September 2014	31 August 2019

The award of options today is consistent with the Board's authority, approved by shareholders at the Company's last AGM. The options have been awarded to bring the remuneration packages of directors and senior management closer in line to market rates, given the salary foregone as part of the recent reduction of overheads of over 50% by GCM's new management, as mentioned in the interims results announced on 24 January 2014.

For further information:

GCM Resources plc James Hobson CFO & Company Secretary  [phone]	Bell Pottinger Lorna Cobbett / Joanna Boon [phone]
ZAI Corporate Finance Ltd Nominated Adviser and Broker Tom Price [phone]

GCM Resources plc
Tel: [phone]
[e-mail]; www.gcmplc.com

 

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