GCM Resources plc announced that Mr. Michael Vee Mun Tang is joining the Board as Executive Chairman and Messrs. Neil Lindsey Herbert and Guy Elliott as a Non-Executive Directors. Mr. Gary Lye, whilst remaining as Chief Executive Officer of the company's subsidiary, Asia Energy Corporation (Bangladesh) Pty Ltd., has stepped down as a director, but assumes the additional role of chief operating officer, of the company.

Messrs. Gerard Holden, Stephen Dattels and Greg James have also resigned as Non-Executive Directors. An Independent Non-Executive Director is expected to be appointed in due course.

Mr. Tang, is executive co-chairman and managing director of the company's shareholder, Polo Resources Limited and is the principal of Mettiz Capital Limited. Neil Herbert, was until recently co-chairman and managing director of Polo where he remains as a consultant. Mr. Elliott is founder of F3 Capital Management LLC.

He was president and co-founder of Croesus Capital Management Corp. He was a manager of proprietary trading at HSBC New York from 1992 to 1993 and worked for EBF & Associates as a portfolio manager from 1990 to 1992.