29th Aug 2013 09:45
29th 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 +44 (0) 20 7290 1630
| Pelham Bell Pottinger Lorna Spears / 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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