Grant of Options

GCM Resources PLC

21 May 2026

 

21 May 2026

GCM Resources plc

("GCM" or the "Company")

Grant of Options

GCM Resources plc (AIM: GCM), the AIM traded resource exploration and development company, announces that it has granted options over new ordinary shares of 1 pence each ("Ordinary Shares") in the share capital of the Company under its unapproved share option scheme (the "Options").  

A total of 25,100,000 Options, representing approximately 6.82 per cent. of the Company's issued share capital, have been issued to the directors and certain persons discharging managerial responsibilities ("PDMRs") as set out in the table below.

Director/PDMR	Position	Number of Options granted	Total number of share options now held	Total number of share options held as a percentage of issued share capital
Michael Tang	Chief Executive Officer	15,500,000	15,500,000	4.21%
Keith Fulton	Finance Director	4,500,000	4,500,000	1.22%
Charlie Green	Non-Executive Chairman	600,000	600,000	0.16%
Gary Lye	Non-board Chief Operating Officer	4,500,000	4,500,000	1.22%

As outlined in the Company's annual report and accounts for the year ended 30 June 2025, the policy of the board of directors of GCM (the "Board" or the "Directors") is to provide remuneration packages designed to attract, motivate and retain personnel of the calibre necessary to maintain the Company's position, and to reward them for enhancing shareholder value and return.

Due to the Company's corporate activity over the last several years, it has not been possible to grant the Options until now. Where applicable, the Options granted have been done so using existing share authorities granted to the Board at the Company's annual general meeting held on 17 December 2025.

Further details regarding the Options

The Options granted are under the condition that 75% of the Options granted to each director/PDMR will vest immediately from the date of grant. The remaining 25% of the Options will vest two years from date of grant provided that the recipient of the Option maintains continuous employment for a two-year period. The Options have an exercise price of 5.4 pence per Option, equating to the closing market price on 20 May 2026 and a 5 year term from the date of grant.

The specific vesting schedule, comprising 75% immediate vesting and 25% deferred vesting after two years, has been structured to reflect the unique requirements of the business at this juncture:

·      75% immediate vesting: Formally recognises the substantial, historic contributions and long-term service of the individuals, who have successfully navigated the Company through many years without equivalent historic equity recognition.

·      25% two-year deferred vesting: Ensures continued alignment with shareholders by incentivising the delivery of the Company's near-term strategic milestones and securing leadership stability over the next 24 months.

The Remuneration Committee believes that this balanced structure is a pragmatic, commercially focused solution that rewards proven loyalty while protecting future shareholder value.

The Company separately intends to grant options over new Ordinary Shares or alternatively another form of equity incentive or a bonus scheme to the Company's Employees in Bangladesh. The Company will make a further announcement in this regard following the assessment of the legal and regulatory implications relating to this.

Details of the Director/PDMR dealing are set out in the table at the end of this announcement, which has been provided in accordance with the requirements of the UK Market Abuse Regulation.

For further information:

GCM Resources plc Keith Fulton, Finance Director	Tel: [phone] [e-mail] www.gcmplc.com
Allenby Capital Limited Nominated Adviser and Joint Broker John Depasquale / Vivek Bhardwaj (Corporate Finance) Kelly Gardiner / Lauren Wright (Sales and Corporate Broking)	Tel: [phone] [e-mail]

About GCM Resources plc

GCM Resources plc (LON: GCM), the AIM resource exploration and development company, has identified a high-quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project (the "Project") in north-west Bangladesh.

Utilising the latest highly energy efficient power generating technology the Phulbari coal mine can support some 6,600MW. GCM requires approval from the Government of Bangladesh in order to develop the Project. The Company has a strategy of linking the Company's mine proposal to supplying coal to the Government of Bangladesh's existing and in the pipeline coal-fired power plants and / or power plants developed development partners. Together with credible, internationally recognised strategic development partners, GCM aims to deliver a practical power solution to provide the cheapest coal-fired electricity in the country, in a manner amenable to the Government of Bangladesh.

The information below is set out in accordance with the requirements of the Market Abuse Regulation (EU) 596/2014 (which forms part of UK domestic law pursuant to the European Union (Withdrawal) Act 2018, as amended), provides further details of the transaction EU Market Abuse Regulation, provides further detail on the sales.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1. Michael Tang 2. Keith Fulton 3. Charlie Green 4. Gary Lye
2	Reason for the notification
a)	Position/status	1. Chief Executive Officer 2. Finance Director 3. Non-Executive Chairman 4. Non-Board Chief Operating Officer
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	GCM Resources PLC
b)	LEI	213800MXX5QHZNHCDU55
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument   Identification code	Ordinary shares of GBP 0.01 each GB00B00KV284
b)	Nature of the transaction	Grant of Options
c)	Price(s) and volume(s)	Exercise Price(s) (pence) Volume(s) 1. 5.4p 2. 5.4p 3. 5.4p 4. 5.4p 1. 15,500,000 2. 4,500,000 3. 600,000 4. 4,500,000
d)	Aggregated information    -Aggregated volume  - Price	Not Applicable
e)	Date of the transaction	20 May 2026
f)	Place of the transaction	Outside a trading business

 

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