Holding(s) in Company

For filings with the FSA include the annex

For filings with issuer exclude the annex 

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

GCM RESOURCES PLC

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

YES

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached 

NO

An event changing the breakdown of voting rights

NO

Other (please specify):______________

NO

3. Full name of person(s) subject to notification obligation:

Christian Leone;

Luxor Management, LLC; 

Luxor Capital Group, LP; and 

LCG Holdings, LLC.

4. Full name of shareholder(s) (if different from 3):

Luxor Capital Partners Offshore, Ltd

5. Date of transaction (and date on which the threshold is crossed or reached if different):

29 SEPTEMBER 2008

6. Date on which issuer notified:

1 OCTOBER 2008

7. Threshold(s) that is/are crossed or reached:

12% in respect of each of Christian Leone, 

Luxor Management, LLC and 

Luxor Capital Group, LP;

3% in respect of LCG Holdings, LLC

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible use ISIN code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Number of voting rights

Percentage of voting rights

Direct

Indirect

Direct

Indirect

Christian Leone:

GB00B00KV284

0

0

6,405,830

6,405,830

12.56%

Luxor Management LLC:

GB00B00KV284

0

0

6,405,830

6,405,830

12.56%

Luxor Capital Group, LP:

GB00B00KV284

0

0

6,405,830

6,405,830

12.56%

LCG Holdings, LLC:

GB00B00KV284

0

0

1,793,010

1,793,010

3.51%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

Total (A+B)

Number of voting rights

Percentage of voting rights

In respect of each of Christian Leone, 

Luxor Management, LLC and 

Luxor Capital Group, LP

12%

In respect of LCG Holdings, LLC

3%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

The Shares in which Christian Leone is interested are managed by the following entities each of which is controlled by Christian Leone.

Luxor Management, LLC; 

Luxor Capital Group, LP; and 

LCG Holdings, LLC.

Proxy Voting:

10. Name of proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14 Contact name:

Richard Brimelow

15. Contact telephone name:

020 7290 1630