Changes to Directors options

RNS Number : 4147Y

GCM Resources PLC

21 February 2013

 



21^st February 2013

GCM Resources plc

(the "Company" or "GCM Resources")

(AIM:GCM)

Changes to Directors options

GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, announces the following changes to the options awarded to directors.

Options cancelled:

	Options	Exercise price	Expiry
Gerard Holden	800,000	£1.00	30 April 2015
Gerard Holden	200,000	£1.00	29 November 2014
Stephen Dattels	400,000	£1.00	30 April 2015
Stephen Dattels	100,000	£0.66	3 years from vesting
Gary Lye	120,000	£1.00	29 November 2014

New options issued:

	Options	Exercise price	Expiry
Gerard Holden	1,000,000	£0.40	29 February 2016
Stephen Dattels	500,000	£0.40	29 February 2016
Gary Lye	500,000	£0.40	29 February 2016

Greg James, Non-Executive Director said: "Since recent Board changes the amount of workload for Gerard, Stephen and Gary has increased and the Board believes that this restructuring of the options will ensure that key directors remain fully incentivised to maximise value for shareholders."

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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