14th Mar 2014 07:00
14th March 2014
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Award of options
GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, announces the options awarded to directors and employees.
Number of options | Exercise price | Vesting | Expiry | ||
Michael Tang | 3,000,000 | 19.8p | 1 September 2014 | 31 August 2019 | |
Dato' Md Wira Dani Bin Abdul Daim | 250,000 | 19.8p | 14 March 2014 | 28 February 2019 | |
Dato' Md Wira Dani Bin Abdul Daim | 500,000 | 19.8p | 1 September 2014 | 31 August 2019 | |
Guy Elliott | 500,000 | 19.8p | 1 September 2014 | 31 August 2019 | |
Gary Lye | 150,000 | 19.8p | 1 September 2014 | 31 August 2019 | |
James Hobson | 150,000 | 19.8p | 1 September 2014 | 31 August 2019 | |
Anwar Islam | 150,000 | 19.8p | 1 September 2014 | 31 August 2019 |
The award of options today is consistent with the Board's authority, approved by shareholders at the Company's last AGM. The options have been awarded to bring the remuneration packages of directors and senior management closer in line to market rates, given the salary foregone as part of the recent reduction of overheads of over 50% by GCM's new management, as mentioned in the interims results announced on 24 January 2014.
For further information:
GCM Resources plc James Hobson CFO & Company Secretary +44 (0) 20 7290 1630
| Bell Pottinger Lorna Cobbett / Joanna Boon +44 (0) 20 7861 3232
|
ZAI Corporate Finance Ltd Nominated Adviser and Broker Tom Price +44 (0) 20 7060 2220 |
GCM Resources plc | |
Tel: +44 (0) 20 7290 1630 | |
[email protected]; www.gcmplc.com |
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