REG - GCM Resources PLC - Grant of Options

GCM ResourcesAnnouncement

21/05/2026 07:00

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RNS Number : 1654F  GCM Resources PLC  21 May 2026

21 May 2026

 

GCM Resources plc

("GCM" or the "Company")

 

Grant of Options

 

GCM Resources plc (AIM: GCM), the AIM traded resource exploration and
development company, announces that it has granted options over new ordinary
shares of 1 pence each ("Ordinary Shares") in the share capital of the Company
under its unapproved share option scheme (the "Options").

 

A total of 25,100,000 Options, representing approximately 6.82 per cent. of
the Company's issued share capital, have been issued to the directors and
certain persons discharging managerial responsibilities ("PDMRs") as set out
in the table below.

 

 Director/PDMR  Position                           Number of Options granted  Total number of share options now held  Total number of share options held as a percentage of issued share capital
 Michael Tang   Chief Executive Officer            15,500,000                 15,500,000                              4.21%
 Keith Fulton   Finance Director                   4,500,000                  4,500,000                               1.22%
 Charlie Green  Non-Executive Chairman             600,000                    600,000                                 0.16%
 Gary Lye       Non-board Chief Operating Officer  4,500,000                  4,500,000                               1.22%

 

As outlined in the Company's annual report and accounts for the year ended 30
June 2025, the policy of the board of directors of GCM (the "Board" or the
"Directors") is to provide remuneration packages designed to attract, motivate
and retain personnel of the calibre necessary to maintain the Company's
position, and to reward them for enhancing shareholder value and return.

 

Due to the Company's corporate activity over the last several years, it has
not been possible to grant the Options until now. Where applicable, the
Options granted have been done so using existing share authorities granted to
the Board at the Company's annual general meeting held on 17 December 2025.

 

Further details regarding the Options

 

The Options granted are under the condition that 75% of the Options granted to
each director/PDMR will vest immediately from the date of grant. The remaining
25% of the Options will vest two years from date of grant provided that the
recipient of the Option maintains continuous employment for a two-year period.
The Options have an exercise price of 5.4 pence per Option, equating to the
closing market price on 20 May 2026 and a 5 year term from the date of grant.

 

The specific vesting schedule, comprising 75% immediate vesting and 25%
deferred vesting after two years, has been structured to reflect the unique
requirements of the business at this juncture:

 

·      75% immediate vesting: Formally recognises the substantial,
historic contributions and long-term service of the individuals, who have
successfully navigated the Company through many years without equivalent
historic equity recognition.

·      25% two-year deferred vesting: Ensures continued alignment with
shareholders by incentivising the delivery of the Company's near-term
strategic milestones and securing leadership stability over the next 24
months.

 

The Remuneration Committee believes that this balanced structure is a
pragmatic, commercially focused solution that rewards proven loyalty while
protecting future shareholder value.

 

The Company separately intends to grant options over new Ordinary Shares or
alternatively another form of equity incentive or a bonus scheme to the
Company's Employees in Bangladesh. The Company will make a further
announcement in this regard following the assessment of the legal and
regulatory implications relating to this.

 

Details of the Director/PDMR dealing are set out in the table at the end of
this announcement, which has been provided in accordance with the requirements
of the UK Market Abuse Regulation.

 

 

For further information:

 

 GCM Resources plc                                              Tel: +44 (0) 20 7290 1630

 Keith Fulton, Finance Director                                 info@gcmplc.com

                                                                www.gcmplc.com (http://www.gcmplc.com)

 Allenby Capital Limited                                        Tel: +44 (0)20 3328 5656

 Nominated Adviser and Joint Broker                             info@allenbycapital.com (mailto:info@allenbycapital.com)

 John Depasquale / Vivek Bhardwaj (Corporate Finance)

 Kelly Gardiner / Lauren Wright (Sales and Corporate Broking)

 

 

About GCM Resources plc

 

GCM Resources plc (LON: GCM), the AIM resource exploration and development
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.

 

 

The information below is set out in accordance with the requirements of the
Market Abuse Regulation (EU) 596/2014 (which forms part of UK domestic law
pursuant to the European Union (Withdrawal) Act 2018, as amended), provides
further details of the transaction EU Market Abuse Regulation, provides
further detail on the sales.

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         1. Michael Tang

                                                                   2. Keith Fulton

                                                                   3. Charlie Green

                                                                   4. Gary Lye

 2    Reason for the notification
 a)   Position/status                                              1. Chief Executive Officer

                                                                   2. Finance Director

                                                                   3. Non-Executive Chairman

                                                                   4. Non-Board Chief Operating Officer

 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         GCM Resources PLC
 b)   LEI                                                          213800MXX5QHZNHCDU55

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  Ordinary shares of GBP 0.01 each

        Identification code                                        GB00B00KV284
 b)   Nature of the transaction                                    Grant of Options

 c)   Price(s) and volume(s)                                         Exercise Price(s) (pence)    Volume(s)

                                                            1. 5.4p                        1. 15,500,000

                                                                   2. 5.4p                        2. 4,500,000

                                                                   3. 5.4p                        3. 600,000

                                                                   4. 5.4p                        4. 4,500,000

 d)   Aggregated information

         -Aggregated volume                                        Not Applicable

       - Price
 e)   Date of the transaction                                      20 May 2026

 f)   Place of the transaction                                     Outside a trading business

d)

 

Aggregated information

   -Aggregated volume

 - Price

 

Not Applicable

e)

 

Date of the transaction

20 May 2026

f)

 

Place of the transaction

 

Outside a trading business

 

 

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