Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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GCM Resources PLC (GCM)

  Print      Mail a friend       Annual reports

Thursday 15 December, 2011

GCM Resources PLC

Result of AGM

RNS Number : 0646U
GCM Resources PLC
15 December 2011
 



 

Date: 15 December 2011

 

GCM RESOURCES PLC

(AIM: GCM)

 

Results of AGM

 

At the annual general meeting of GCM Resources plc held today, all of the ordinary and special resolutions as set out in the notice of this meeting were duly passed.  The following is the text of the Chairman's statement to the meeting.

 

Phulbari

 

The Phulbari Coal Project remains the key opportunity for the Company and we continue to believe that it can provide a fast, low risk, reliable and economic means of delivering the commercial energy required to bring a step-change in electricity availability for the people of Bangladesh.  Because of the unique contribution that the Project can make to the development of the electricity capacity of Bangladesh we continue to have confidence that it will ultimately be developed. 

 

As stated in the Annual Report, we believe that we have made real progress in ensuring that those responsible for making the approval decision have a full understanding of the Project; its benefits, its impacts and how we propose to manage those impacts.  We also believe that there is now a realistic understanding of the challenges associated with developing alternative sources of energy.  However, as we have explained in previous years, the approval of the Scheme of Development is a political decision outside our control and so we continue to be unable to predict its timing.

 

The features of the Project are fully described in our annual reports and on our website and so I do not propose to go into further detail here. 

 

Although GCM has the capability to develop the project it is clear that a partnership with a complementary organisation could produce a stronger proposition and enhance the value of the project for our shareholders.  We therefore continue to have discussions with organisations that have expertise in power development, marketing and logistics, a strong political network, experience of developing substantial projects and/or can offer synergies with other mining projects. 

 

It goes without saying that we remain ready to move the project forward when its Scheme of Development receives approval from the Government of Bangladesh.  As of close of business on 14 December 2011 we had cash and listed investments of £13 million, which will support our current level of activities for the foreseeable future.

 

Share price performance

 

A company's share price is affected by a multitude of factors, not all of which are within the Company's control, knowledge or understanding.  It seems clear that the recent fall in the share price is a reflection of the increasingly risk averse approach taken by investors which has had a disproportionate effect on the price of non-producing, junior resources companies such as GCM whose shares are relatively illiquid.  There are similarities with events in late 2008 and early 2009.  We certainly do not see any Company specific factors that would warrant such a decline in the price.

 

Although this process is frustrating for management and shareholders alike, we will all be best served by obtaining approval for the project and so it is to this end that we continue to direct our efforts.

 



 

 

Proxy voting totals

The resolutions were all passed on the show of hands and no polls were taken.  The Chairman was appointed proxy for the following number of votes.


Resolutions

Votes for

Discretion

Against

Withheld







1

To receive and adopt the Company's accounts

20,703,740

8,263

-

4,864

2

To reappoint Greg James as a director

19,568,884

8,263

1,139,320

400

3

To reappoint Bill McIntosh as a director

19,608,884

8,263

1,099,320

400

4

To reappoint David Weill as a director

20,708,204

8,263

-

400

5

To re-appoint Ernst & Young as auditors

20,708,404

8,263

-

200

6

To authorise the company to purchase own shares

20,708,204

8,263

400

0

7

To authorise directors to allot shares

19,521,054

8,513

1,183,700

3,600

8

To disapply pre-emption rights

19,523,454

8,513

1,184,900

0

 

 

 

 

For further information:

GCM Resources plc

Steve Bywater

Chief Executive

 +44 (0) 20 7290 1630

 

Graham Taggart

Finance Director

+44 (0) 20 7290 1630

 

Pelham Bell Pottinger

Charles Vivian / Lorna Spears

+44 (0) 20 7861 3232

 

 

 

J.P. Morgan Cazenove

Nominated Adviser

Michael Wentworth-Stanley

+44 (0) 20 7588 2828

Evolution Securities

Chris Sim

+44 (0) 20 7071 4300

 

GCM Resources plc

Tel: +44 (0) 20 7290 1630, Fax: +44 (0) 20 7290 1631

info@gcmplc.com; www.gcmplc.com

 


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