Business
Purchase of Shares
Purchase of Shares.
About this update from Gcm Resources Plc
[{"type":"text","content":"\n RNS Number : 5619F GCM Resources PLC 10 October 2008 \n \nGCM Resources plc\n\nPurchase of shares in Polo Resources Limited\n\n\nBetween 18 September 2008 and 10 October 2008 GCM Resources plc ('GCM') made on-market purchases of 74.8 million shares in Polo Resources Limited ('Polo'), representing 4.0% of the outstanding share capital. The aggregate consideration paid for these purchases was £2.8 million, which has been satisfied from GCM's existing cash reserves.\n\nPolo is an AIM-listed coal mining and exploration group with additional interests in uranium and iron ore. Polo owns 29.8% of the outstanding share capital of GCM. For the period 23 May 2007 to 31 March 2008, Polo reported a loss before tax of £0.8m. As at 31 March 2008, Polo reported net assets of £84.8m.\n\n\nContacts:\n\n\n\n\n\nGCM Resources plc\nStephen Bywater\nChief Executive\n +44 (0) 20 7290 1630\n \nGraham Taggart\nFinance Director\n+44 (0) 20 7290 1630\n \n\n\nPelham PR\nCharles Vivian\n+44 (0) 20 7743 6672\n \nKlara Kaczmarek\n+44 (0) 20 3159 4395\n\n\n\n\nJPMorgan Cazenove\nNominated Adviser\nMichael Wentworth-Stanley\n+44 (0) 207 588 2828\n\n\n\n \n\n\n\n\n \n\n\n\n\nGCM Resources plc\n\n\n \n\n\n\n\nTel: +44 (0) 20 7 290 1630, Fax: +44 (0) 20 7290 1631\n\n\n \n\n\n\n\[email protected]; www.gcmplc.com\n\n\n\n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END HOLVBLBFVBBZFBZ \n ","length":4507,"tagName":"div"}]