Results of AGM and Capital Reorganisation

RNS Number : 3886Q

GCM Resources PLC

25 February 2021

 

25 February 2021

GCM Resources plc

("GCM" or the "Company")

Results of AGM and Capital Reorganisation

GCM Resources plc (LON: GCM), an AIM quoted mining and energy company , reports that at the annual general meeting, held today all of the ordinary and special resolutions, as set out in the notice of meeting, were duly passed.

Responses to the questions posed by Shareholders for the AGM will be posted to the Company website shortly and can be viewed at http://www.gcmplc.com/shareholders/presentations .

Capital Reorganisation

As a result of the passage of resolution 8, each of the issued ordinary shares of 10 pence each in the capital of the Company ("Existing Ordinary Shares") be subdivided into one New Ordinary Share of 1 pence and one deferred A share of 9 pence.

Application has been made for 118,581,630 New Ordinary Shares of 1 pence each to be admitted to trading on AIM ("Admission") in place of 118,581,630 Existing Ordinary Shares of 10 pence each. It is expected that Admission will become effective on 26 February 2021.

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

For further information:

GCM Resources plc Keith Fulton Finance Director  [phone]	WH Ireland Ltd James Joyce James Sinclair-Ford [phone]
GCM Resources plc
Tel: [phone]
[e-mail]; www.gcmplc.com

About GCM Resources

GCM Resources plc (LON: GCM), an AIM listed mining and energy 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 is capable of supporting power plants of up to 6,000MW. GCM is awaiting approval from the Government of Bangladesh to develop the Project. The Company has a strategy of combining the Company's mine proposal with up to 6,000MW of power generation, together with credible, internationally recognised strategic 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.

 

END

 

 

MSCPPUCGPUPGGWA