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GCM Resources plc received notice on 2 April 2024 for the exercise of warrants over 2,424,243 new ordinary shares at an exercise price of 1.65 pence per share, raising £40,000 for the Company. Application will be made for admission of these new ordinary shares to AIM, with admission expected to become effective on 8 April 2024, resulting in an enlarged issued share capital of 245,596,374 Ordinary Shares.
| Date | 2 Apr 2024 |
| Time | 12:57:31 |
| Category | Capital structure |
| ID | 9875I |
2 April 2024
GCM Resources plc
("GCM" or the "Company")
Warrants Exercised
GCM Resources plc (LON: GCM), an AIM quoted mining and energy company, reports an exercise of warrants.
Warrant Exercise
The Company has received a notice to exercise warrants over 2,424,243 new ordinary shares of 1 pence each in the Company ("Warrant Shares") at an exercise price of 1.65 p per Warrant Share, raising £40,000 for the Company.
Application will be made to the London Stock Exchange for, in aggregate, 2,424,243 new Ordinary Shares to be admitted to AIM ("Admission"). It is expected that Admission will become effective on 8 April 2024. Following Admission, the Company's enlarged issued share capital will comprise 245,596,374 Ordinary Shares with voting rights in the Company. As the Company holds no shares in treasury, this is the total number of the voting rights in the Company which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change in the interest, in the share capital of the Company under Chapter 5 of the FCA's Disclosure Guidance and Transparency Rules as reflected in the Company's articles of incorporation.
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.