New Advisory agreement

RNS Number : 4227Y

GCM Resources PLC

21 February 2013

 



21^st February 2013

GCM Resources plc

(the "Company" or "GCM Resources")

(AIM:GCM)

New advisory agreement

GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, is pleased to announce that the Company has entered into an advisory agreement with Mettiz Capital Limited.

Mettiz Capital is a Malaysian-based investment company with significant experience in infrastructure development in the Asia region.

Mettiz Capital will advise GCM's Board of Directors on the development of the Phulbari Coal Project (the "Project"). In return Mettiz Capital has been awarded 2,500,000 options with an exercise price 40p per share.  The options will vest upon the Government of Bangladesh granting approval of the Scheme of Development for the Phulbari Coal Project but will terminate if the condition has not been satisfied within 12 months of award. The options will expire after one year of the vesting date.

Gerard Holden, Chairman said: "We are pleased to have secured the services of Mettiz Capital, and particularly its Chief Executive Officer, Michael Tang, as an adviser to the Company.  GCM will work closely with Mettiz Capital to pursue approval of the Project."

For further information:

GCM Resources plc Gerard Holden Non-Executive Chairman  [phone]	Pelham Bell Pottinger Lorna Spears / Joanna Boon [phone]
J.P. Morgan Cazenove Nominated Adviser Michael Wentworth-Stanley [phone]	Investec Investment Banking Chris Sim [phone]

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

 

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