Emmerson PLC Exercise of Warrants and Issue of Shares (3086A)
01 June 2021 - 4:00PM
UK Regulatory
TIDMEML
RNS Number : 3086A
Emmerson PLC
01 June 2021
Emmerson Plc / Ticker: EML / Index: AIM / Sector: Mining
01 June 2021
Emmerson Plc ("Emmerson" or the "Company")
Exercise of Warrants and Issue of Shares
Emmerson Plc, the Moroccan focused potash development company,
is pleased to announce that it has received notice of the exercise
of warrants from JIM Nominees Ltd in respect of 7,833,833 ordinary
shares of no par value in the capital of the Company ("Ordinary
Shares") at a price of 3 pence per share. The aggregate gross
proceeds of this exercise amounts to GBP235,014.99.
The Company have applied for the new shares to be admitted for
trading on the AIM Market and admission is expected to take place
on 4 June 2021. The 7,833,833 new Ordinary Shares will rank pari
passu with the existing Ordinary Shares.
For the purpose of the Disclosure and Transparency Rules,
following the admission of the 7,833,833 new Ordinary Shares
(excluding any treasury shares) the new total number of shares in
issue will be 833,244,481. Accordingly, this figure may be used by
shareholders as a denominator for the calculations by which they
will determine if they are required to notify their interest in, or
change to their interest in, the Company, under the Disclosure and
Transparency Rules.
The Directors of the issuer accept responsibility for the
contents of this announcement.
**ENDS**
For further information, please visit www.emmersonplc.com,
follow us on Twitter (@emmerson_plc), or contact:
Emmerson Plc
Graham Clarke +44 (0) 20 7236 1177
Shore Capital (Nominated Adviser
and Joint Broker)
Toby Gibbs / John More (Corporate
Advisory)
Jerry Keen (Corporate Broking) +44 (0)20 7408 4090
Shard Capital (Joint Broker)
Damon Heath / Isabella Pierre +44 (0)20 7186 9927
St Brides Partners (Financial PR/IR)
Susie Geliher +44 (0)20 7236 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 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.
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.
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END
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