Directors Options

RNS Number : 7374M

GCM Resources PLC

29 August 2013

 



29^th August 2013

GCM Resources plc 

(the "Company" or "GCM Resources")

 (AIM:GCM)

Directors Options

GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, announces options awarded to Directors following the change to the composition of the Board on 26 June 2013.  The exercise price is equal to the 30 day Volume Weighted Average Closing Price. The option grants are dated 29 August 2013.

		Number of options	Exercise price	Vesting	Expiry
Michael Tang		2,500,000	19.8p	1 March 2014	28 February 2019
Guy Elliott		250,000	19.8p	1 March 2014	28 February 2019
Neil Herbert		250,000	19.8p	1 March 2014	28 February 2019

Michael Tang, Executive Chairman said: "Recognising that it is in the best interests of the Company to minimise costs, the remuneration of Directors has been structured to minimise the cash spend, while appropriately incentivising the Directors to maximise value for shareholders."

For further information:

GCM Resources plc James Hobson CFO & Company Secretary  [phone]	Pelham Bell Pottinger Lorna Spears / 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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