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GCM Resources PLC (GCM)

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Thursday 16 July, 2009

GCM Resources PLC

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 milestonesincluding 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: +44 (0)20 7337 1538

Ph: +44 (0)20 7 290 1630              Email: charles.vivian@pelhampr.com


Graham Taggart                           Klara Kaczmarek

Finance Director                           Ph: ++44 (0) 20 7337 1524

Ph: +44 (0)20 7 290 1630              Email: klara.kaczmarek@pelhampr.com


JPMorgan Cazenove

Nominated Adviser

Michael Wentworth-Stanley

Mark Hankinson

+44 (0) 20 7588 2828



This information is provided by RNS
The company news service from the London Stock Exchange
 
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