Director/PDMR Shareholding

RNS Number : 8164V

GCM Resources PLC

16 July 2009

 



GCM Resources plc 

(AIM:GCM) 16 th July 2009

GCM Resources plc - Conditional Share Scheme

The Board of GCM Resources plc has today given approval for the conditional allotment of 1,130,000 shares to Directors, employees, consultants and associates of GCM or their nominees.

These shares will be allotted and issued on the achievement of certain milestones, including approval by the Government of Bangladesh of the Scheme of Development for the Phulbari Coal Project.  

The shares are conditionally allotted as follows:

	Number of shares
Steve Bywater	400,000
Graham Taggart	140,000
Gerard Holden	100,000
Stephen Dattels	100,000
William McIntosh	80,000
Total allotted to directors	820,000
Employees, consultants and associates	310,000
	1,130,000

For directors and employees, the allotment and issue of shares is conditional on their continued engagement by GCM, one year after Scheme of Development approval, unless GCM is subject to a change in control.  These conditional allotments are consistent with the Board's authority which was approved by shareholders at the Company's last AGM.

For further information contact:

GCM Resources plc:                    Pelham Public Relations: 

Steve Bywater                              Charles Vivian

Chief Executive                             Ph: [phone]

Ph: [phone]              Email: [e-mail]

Graham Taggart                           Klara Kaczmarek

Finance Director                           Ph: +[phone]

Ph: [phone]              Email: [e-mail]

JPMorgan Cazenove

Nominated Adviser

Michael Wentworth-Stanley

Mark Hankinson

[phone]

 

END

 

 

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