Directorate Change

RNS Number : 2711R

GCM Resources PLC

28 April 2009

 



GCM Resources plc 

(AIM:GCM) 28th April 2009

GCM Resources plc Appoints Mr Stephen R Dattels as Non-Executive Director

GCM Resources plc ('GCM') announced today that Mr Stephen Dattels will be joining the Board of GCM as a Non-Executive Director with effect from the 28th of April 2009.

In the past decade Stephen Dattels has helped to form and finance a number of mining ventures, including UraMin Inc, which was sold for approximately US$2.5 billion in cash in summer 2007. Previously, he was an executive at Barrick Gold Corporation during its formative years when it grew from a capital base of $10 million to a market capitalisation of $2 billion when he left in early 1987. Mr Dattels has a Bachelor of Arts degree from McGill University, a law degree (cum laude) from the University of Western Ontario and has completed the Program for Management Development at Harvard University.

Mr Dattels is currently the Executive Chairman of Polo Resources Limited, which owns 29.8% of the current issued share capital of GCM and of which GCM owns 3.9% of the current issued share capital. He is also the Non-Executive Co-Chairman of Regent Pacific Group Limited of which GCM owns 1.8% of the current issued share capital.

Gerard Holden, GCM's Chairman said:

'We are delighted to have a person with Stephen Dattels' credentials and experience join the Company. With his impressive track record of funding and supporting junior mining companies through periods of substantial development and growth, Stephen will further enhance the capability of GCM's board.'

Additional information

The information detailed below is disclosed in accordance with Rule 17 and Schedule Two of the AIM Rules. Except for the information disclosed below, there is no other information which falls to be disclosed under these rules.

Mr Dattels has today been granted options to subscribe for 100,000 ordinary shares of GCM with an exercise price of 66p, a premium of 20% to the closing price on 27th April 2009.  Exercise of these options is conditional on the Company receiving approval from the Government of Bangladesh for the Scheme of Development of the Phulbari Coal Project while Mr Dattels is a Director of GCM. The options will lapse if not exercised within three years of Scheme of Development Approval.

  The Directorships and past Directorships of Mr Stephen Roland Dattels (aged 61) are listed below:

Current Directorships	Past Directorships
Regent Mercantile Bancorp Inc.	Finelot Trading Company Limited
Regent Coal BVI Limited	Equilot.com Limited
Regent Mercantile Limited	European Minerals Corporation
Regent Pacific Group Ltd.	Ten Upper Grosvenor Street Management Limited
Caledon Resources PLC	Oriel Resources plc
Polo Resources Limited	Brook Audley Resources Limited
Emerging Metals Limited	Everfor Resources Ltd
	Uramin Inc.
	Regent Discovery Limited
	Mago Resources Pty
	Uramin UK Limited

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]

J.P. Morgan Cazenove

Nominated Adviser

Michael Wentworth-Stanley

Mark Hankinson

[phone]

For further information: www.gcmplc.com

 

END

 

 

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