Emmerson PLC Allotment of Shares (3145T)
24 March 2021 - 7:00PM
UK Regulatory
TIDMEML
RNS Number : 3145T
Emmerson PLC
24 March 2021
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
24 March 2021
Emmerson Plc ("Emmerson" or the "Company")
Allotment of Shares
Emmerson plc, the Moroccan focused potash development company,
announces that further to the announcement regarding the
appointment of Mr James Kelly to the Board, the Company has
allotted 600,000 new Ordinary Shares to Mr Kelly at a price of
5.65p each (the "New Director Shares").
Application has been made for the admission of the Director
Shares to trading on the Main Market of London Stock Exchange plc
("Admission"). It is expected that Admission will take place at or
around 8.00 a.m. on 29 March 2021. The New Director Shares will,
when issued, rank pari passu in all respects with the Company's
existing issued Ordinary Shares.
Following Admission of the 600,000 New Director Shares, the
Company's issued share capital will consist of 823,244,481 Ordinary
Shares. Therefore, following Admission the total number of voting
rights in Emmerson will be 823,244,481, which is the figure which
should be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in,
Ordinary Shares under the FCA's Disclosure and Transparency
Rules.
**ENDS**
For further information, please visit www.emmersonplc.com
, follow us on Twitter (@emmerson_plc), or contact:
Graham Clarke +44 (0) 20 7236
Edward McDermott Emmerson plc 1177
Jerry Keen
Toby Gibbs
John More Shore Capital +44 (0)20 7408 4090
Damon Heath +44 (0) 20 7628
Isabella Pierre Shard Capital 3396
St Brides Partners
Megan Denison Limited
Susie Geliher Financial PR/IR +44 (0)20 7236 1177
Notes to Editors
Emmerson's primary focus is on developing the Khemisset project
("Khemisset" or the "Project") located in Northern Morocco. The
Project has a large JORC Resource Estimate (2012) of 537Mt @ 9.24%
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 Feasibility
Study released in June 2020 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 approximately US$1.4 billion using
industry expert, Argus', price forecasts.
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END
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