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Christian Taylor-Wilkinson has resigned as Independent Non-Executive Chairman of GCM Resources plc, effective 28 February 2024. This action followed a resolution received from shareholder Polo Resources seeking his removal as a director. Consequently, Resolution 5 to remove him will not be tabled at the AGM, and GCM Resources is seeking to recruit two new Independent Non-Executive Directors.
| Date | 2 Feb 2024 |
| Time | 14:20:00 |
| Category | Board changes |
| ID | 9128B |
GCM Resources plc
("GCM" or the "Company")
Resignation of Director
GCM Resources plc (LON:GCM), an AIM quoted mining and energy company, announces that as a result of the resolution received from Polo resources seeking to remove him as a director, Christian Taylor-Wilkinson has reluctantly tendered his resignation from his position as Independent Non-Executive Chairman. The Board would like to take this opportunity to thank Christian for his services during the period from May 2020 to date, and to wish him success in the future. Christian's resignation will take effect from 28 February 2024. The Company is currently in the process of seeking to recruit two new Independent Non-Executive Directors ("NEDs"), including a Non-Executive Chairman.
As a result of Christian's resignation, the Company advises shareholders that Resolution 5 "That Christian Taylor-Wilkinson be and is hereby removed as a director of the Company with Immediate effect" will no longer be tabled at the AGM as it is redundant.
The COO of GCM, Gary Lye, and FD, Keith Fulton stated:
"Christian brought a wealth of experience to the GCM Board, drawn from a career spanning investment banking, investor relations and management of resource companies. We would like to thank him for his proactive contribution to the Company and we wish him well in his future endeavours."
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:
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GCM Resources plc Keith Fulton Finance Director +44 (0) 20 7290 1630
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WH Ireland Ltd James Joyce James Bavister Andrew De Andrade +44 (0) 20 7220 1666 |
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GCM Resources plc |
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Tel: +44 (0) 20 7290 1630 |
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About GCM Resources
GCM Resources plc (LON:GCM), the 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 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.