Emmerson PLC Holding(s) in Company (7432F)
17 July 2019 - 4:00PM
UK Regulatory
TIDMEML
RNS Number : 7432F
Emmerson PLC
17 July 2019
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
17 July 2019
Holdings in Company
Emmerson Plc ("Emmerson" or the "Company"), the Moroccan focused
potash development company, is pleased to announce that it has been
notified that Dame Ann Gloag D.B.E. - founder of Stagecoach Group
and a successful growth company investor - has increased her
holding to approximately 3.02% per cent. of the Company's issued
share capital, following the purchase of 5,674,234 Ordinary Shares
and is now beneficially interested in 20,691,867 Ordinary
Shares.
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
1. Identity of the issuer or the underlying Emmerson plc
issuer
of existing shares to which voting rights
are
attached: (ii)
------------------------------------------------
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights x
--------------------------------------------------------------------------------------------------------------- ------
An acquisition or disposal of qualifying financial instruments
which may result in the acquisition of shares already issued to
which voting rights are attached
--------------------------------------------------------------------------------------------------------------- ------
An acquisition or disposal of instruments with similar economic
effect to qualifying financial instruments
--------------------------------------------------------------------------------------------------------------- ------
An event changing the breakdown of voting rights
--------------------------------------------------------------------------------------------------------------- ------
Other (please
specify):
-------------------- ----------------------------------------------------------------------------------------- ------
3. Full name of person(s) subject Dame Ann Gloag D.B.E.
to the
notification obligation: (iii)
--------------------------------------------------------
4. Full name of shareholder(s)
(if different from 3.):(iv)
--------------------------------------------------------
5. Date of the transaction and date 16 July 2019
on
which the threshold is crossed
or
reached: (v)
--------------------------------------------------------
6. Date on which issuer notified:
--------------------------------------------------------
7. Threshold(s) that is/are crossed
or
reached: (vi, vii) 3%
--------------------------------------------------------
8. Notified details:
A: Voting rights attached to shares (viii, ix)
Class/type Situation previous Resulting situation after the triggering
of to the triggering transaction
shares transaction
if
possible
using
the ISIN
CODE
--------------------------------------- -----------------------------------------------------------------
Number Number Number Number of voting % of voting rights
of of of shares rights (x)
Shares Voting
Rights
-------------------- ----------------- --------------- ---------------------- ------------------------
Direct Direct Indirect Direct Indirect
(xi) (xii)
----- ------- ------ ----- --------------- ----------- --------- ----------- -----------
Ordinary
Shares
0.01p 15,017,633 15,017,633 20,691,867 20,691,867 3.02%
-------------------- ----------------- --------------- ----------- --------- ----------- -----------
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date (xiii) Conversion Period rights that may rights
(xiv) be
acquired if the
instrument is
exercised/ converted.
--------------- -------------------------- -------------------------- --------------------
N/A
--------------- -------------------------- -------------------------- --------------------
C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments (xv, xvi)
Resulting situation after the triggering transaction
Type of Exercise Expiration Exercise/ Number of voting % of voting rights
financial price date (xvii) Conversion rights instrument (xix, xx)
instrument period refers to
(xviii)
------------------ ------------- ------------------- -------------------------- --------------------
N/A Nominal Delta
------------------ ------------- ------------------- -------------------------- ------------ ------
Total (A+B+C)
Number of voting rights Percentage of voting rights
-----------------------------------------------------
20,691,867 3.02%
-----------------------------------------------------
9. Chain of controlled undertakings through which the voting rights and/or
the
financial instruments are effectively held, if applicable: (xxi)
Proxy Voting:
10. Name of the 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:
--------------------------------------
15. Contact telephone number:
--------------------------------------
**ENDS**
For further information, please visit www.emmersonplc.com, follow
us on Twitter (@emmerson_plc), or contact: Emmerson Plc Tel: +44 (0) 207 236
Hayden Locke 1177
Edward McDermott
Jeremy King Optiva Securities Limited Tel: +44 (0) 3137 1904
Joint Broker
Damon Heath Shard Capital Partners LLC Tel: +44 (0) 7186 9007
Isabella Pierre
Gaby Jenner St Brides Partners Ltd Tel: +44 (0) 20 7236
Melissa Hancock Financial PR/IR 1177
Notes to Editors
Emmerson's primary focus is on developing the Project located in
Northern Morocco. The Project has a large JORC Resource Estimate
(2012) of 311.4Mt @ 10.2% K(2) O and significant exploration
potential with an accelerated development pathway targeting a low
capex, high margin mine. Khemisset is perfectly located to
capitalise on the expected growth of African fertiliser consumption
whilst also being located on the doorstep of European markets. This
unique positioning means the Project will receive a premium netback
price compared to existing potash producers. The need to feed the
world's rapidly increasing population is driving demand for potash
and Emmerson is well placed to benefit from the opportunities this
presents. The Scoping Study released in November 2018 indicated
Khemisset has the potential to be among the lowest capital cost
development stage potash projects in the world and also, as a
result of its location, one of the highest margin projects. This
delivered outstanding economics including a post-tax NPV(10) of
US$1.14 billion using industry expert, Argus', price forecasts.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
HOLSFLFIMFUSEIW
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