Business
Share issue - Consultants & Director
Share issue - Consultants & Director.
About this update from Gcm Resources Plc
[{"type":"text","content":"\n \n \n 30 March 2023\n \n \n \n \n \n \n \n \n GCM Resources plc\n \n \n \n (\"GCM\" or the \"Company\")\n \n \n (AIM:GCM) \n \n \n \n Share issue - Consultants & Director\n \n \n \n \n \n Director/PDMR Shareholding\n \n \n \n \n \n \n \n GCM Resources plc, a\n n AIM quoted mining and energy company\n , announces the issuance of new ordinary shares of 1 pence each in the capital of the Company (\"Ordinary Shares\") as payment of consulting fees in accordance with the consultancy agreement announced on 26 October 2018 and extended on 29 June 2020, with Dyani Corporation Limited (\n \"\n Dyani\"\n ) (the \"Dyani Agreement\"), and in accordance with the consultancy agreement announced on 22 August 2022, with DG Infratech Pte Ltd (\n \"\n DG\n \") (the\n \"\n DG Agreement\n \"\n ) (together, the \"Agreements\")\n .\n \n \n \n \n \n The Agreements provide that new Ordinary Shares would be awarded to Dyani and DG, and thus the following monthly consulting fees will be settled via the issuance of new Ordinary Shares:\n \n \n ·\n in lieu of Dyani's retainer fee for the period from 1 April 2022 to 30 June 2022 of £75,000, the Company will issue 535,714 new Ordinary Shares to Dyani;\n \n \n ·\n in lieu of DG's retainer fee for the period from 1 January 2022 to 31 December 2022 of £180,000, the Company will issue 4,363,636 new Ordinary Shares to DG.\n \n \n \n \n \n GCM confirms that following the issue of new Ordinary Shares, Dyani will be interested in 15.20% of the Company\n '\n s enlarged issued ordinary share capital.\n \n \n \n \n \n Under the terms of the Dyani & DG Agreements, there are no restrictions on disposal of the shares issued in respect of the retainer fees issued to either Dyani or DG, which are intended to cover the respective consultants' costs in performing their services. \n \n \n \n \n \n Director Shares\n \n \n GCM also announces the issue of a total of 317,460 new ordinary shares of £0.01 each in the Company (\"New Ordinary Shares\") to Keith Fulton,\n for payment of his services as Executive Director of the Company for the period 1 January 2022 to 31 December 2022 of £10,000, as part of his director remuneration agreement from June 2019.\n \n \n \n \n \n On Admission, Keith Fulton will have an interest in 1,023,343 Shares, representing appro...