Award of options

RNS Number : 7063O

GCM Resources PLC

29 May 2015

 

29^th May 2015

GCM Resources plc

("GCM" or the "Company")

(AIM:GCM) 

Award of options

GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, announces the award of options to directors and senior management.

	Number of options	Exercise price	Vesting	Expiry
Michael Tang	1,750,000	11p	1 January 2016	31 May 2020
Dato' Md Wira Dani Bin Abdul Daim	200,000	11p	1 January 2016	31 May 2020
Guy Elliott	200,000	11p	1 January 2016	31 May 2020

In addition, the terms to options previously awarded to directors have been amended as follows:

Michael Tang Options: 2,500,000 Vesting date: 1 January 2016 (previously vested) Exercise price: 11p (from 19.8p) Expires: 31 May 2020 (from 28 February 2019)	Options: 3,000,000 Vesting date: 1 January 2016 (previously vested) Exercise price: 11p (from 19.8p) Expires: 31 May 2020 (from 31 August 2019)
Dato' Md Wira Dani Bin Abdul Daim Options: 250,000 Vesting date: 1 January 2016 (previously vested) Exercise price: 11p (from 19.8p) Expires: 31 May 2020 (from 31 August 2019)	Options: 500,000 Vesting date: 1 January 2016 (previously vested) Exercise price: 11p (from 19.8p) Expires: 31 May 2020 (from 31 August 2019)
Guy Elliott Options: 250,000 Vesting date: 1 January 2016 (previously vested) Exercise price: 11p (from 19.8p) Expires: 31 May 2020 (from 28 February 2019)	Options: 500,000 Vesting date: 1 January 2016 (previously vested) Exercise price: 11p (from 19.8p) Expires: 31 May 2020 (from 31 August 2019)

Senior management were awarded 475,000 options with an exercise price of 11p, vesting on 1 January 2016 and to expire on 31 May 2020 if not already exercised. They were also offered the opportunity to amend their existing options they held (1,050,000) to the same terms.

The award of options today is consistent with the Board's authority, approved by shareholders at the Company's last AGM. The award and changes to options are designed to compensate for salary restrictions, reward the successful completion of recent funding and to further strengthen incentives with shareholder value.

For further information:

GCM Resources plc James Hobson CFO & Company Secretary  [phone]	Bell Pottinger Lorna Cobbett / Joanna Boon [phone]
ZAI Corporate Finance Ltd Nominated Adviser and Broker Tom Price [phone]

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

 

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