REG - Emmerson PLC - Grant of Share Options
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
5 August 2020
Emmerson Plc ("Emmerson" or the "Company")
Grant of Share Options
Emmerson Plc, the Moroccan focused potash development company, announces the grant of 55,000,000 (55 million) options to subscribe for new ordinary shares in the Company (the "New Options") to certain directors and senior management of the Company with effect from 1 August 2020 (the "Grant Date").
Details of the Options
Director / Senior Management
New Options
Vesting Dates
Total options held
Mr Graham Clarke
17,500,000
· 500,000 Options on the first anniversary of the Grant Date at a price of 0.001p per ordinary share;
· 1,000,000 Options on the first anniversary of the Grant Date at a price of 0.05p per ordinary share;
· 2,000,000 Options on the first anniversary of the Grant Date at a price of 0.07p per ordinary share;
· 3,333,333 Options on the first anniversary of the Grant Date at a price of 0.10p per ordinary share.
· 1,000,000 Options on the second anniversary of the Grant Date at a price of 0.001p per ordinary share;
· 1,000,000 Options on the second anniversary of the Grant Date at a price of 0.05p per ordinary share;
· 2,000,000 Options on the second anniversary of the Grant Date at a price of 0.07p per ordinary share;
· 3,333,333 Options on the second anniversary of the Grant Date at a price of 0.10p per ordinary share.
· 3,333,334 Options on the third anniversary of the Grant Date at a price of 0.10p per ordinary share.
17,500,000
Mr Said Hamdioui
3,500,000
· 750,000 Options on the Grant Date at a price of 0.06p per ordinary share;
· 1,000,000 on the Grant Date at a price of 0.10p per ordinary share;
· 750,000 Options on the first anniversary of the Grant Date at a price of 0.06p per ordinary share; and
· 1,000,000 Options on the first anniversary of the Grant Date at a price of 0.10p per ordinary share;
9,500,000
Mr Phil Cleggett
9,000,000
· 2,500,000 Options on the Grant Date at a price of 0.06p per ordinary share
· 2,000,000 Options on the Grant Date at a price of 0.10p per ordinary share
· 2,500,000 Options on the first anniversary of the Grant Date at a price of 0.06p per ordinary share
· 2,000,000 Options on the first anniversary of the Grant Date at a price of 0.10p per ordinary share
14,000,000
Mr Hayden Locke
10,000,000
· One quarter of the Options on the Grant Date at a price of 0.06p per ordinary share;
· one quarter of the Options on the Grant Date at a price of 0.10p per ordinary share;
· one quarter of the Options on the first anniversary of the Grant Date at a price of 0.06p per ordinary share; and
· one quarter of the Options on the first anniversary of the Grant Date at a price of 0.10p per ordinary share.
22,000,000
Mr Mark Connelly
5,000,000
8,000,000
Mr Robert Wrixon
5,000,000
11,000,000
Mr Ed McDermot
5,000,000
11,000,000
**ENDS**
For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:
Hayden Locke
Emmerson Plc
Tel: +44 (0) 207 236 1177
Edward McDermott
Damon Heath
Shard Capital Partners
Tel: +44 (0) 20 7186 9950
Isabella Pierre
Isabel de Salis
Megan Dennison
St Brides Partners Ltd
Financial PR/IR
Tel: +44 (0) 20 7236 1177
Notes to Editors
Emmerson's primary focus is on developing the Khemisset Potash Project located in Northern Morocco. The project has a large JORC Resource Estimate (2012) of 311.4Mt @ 10.2% K2O 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.
1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
1. Graham Clarke
2. Said Hamdioui
3. Hayden Locke
4. Phil Cleggett
5. Mark Connelly
6. Robert Wrixon
7. Ed McDermott
2.
Reason for the notification
a)
Position/status:
1. CEO
2. Advisor
3. Executive Director
4. Head of Corporate Development
5. Chairman
6. Executive Director
7. Non-Executive Director
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Emmerson Plc
b)
LEI:
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Ordinary Shares of NPV
ISIN: IM00BDHDTX83
b)
Nature of the transaction:
Grant of Options
c)
Price(s) and volume(s):
Volume Price
1. Graham Clarke
i) 500,000 0.001p
ii) 1,000,000 0.05p
iii) 2,000,000 0.07p
iv) 3,333,333 0.10p
v) 1,000,000 0.001p
vi) 1,000,000 0.05p
vii) 2,000,000 0.07p
viii) 3,333,333 0.10p
ix) 3.333.334 0.10p
2. Said Hamdioui
i) 750,000 0.06p
ii) 1,000,000 0.10p
iii) 750,000 0.06p
iv) 1,000,000 0.10p
3. Hayden Locke
i) 2,500,000 0.06p
ii) 2,500,000 0.10p
iii) 2,500,000 0.06p
iv) 2,500,000 0.10p
4. Phil Cleggett
i) 2,500,000 0.06p
ii) 2,000,000 0.10p
iii) 2,500,000 0.06p
iv) 2,000,000 0.10p
5. Mark Connelly
i) 1,250,000 0.06p
ii) 1,250,000 0.10p
iii) 1,250,000 0.06p
iv) 1,250,000 0.10p
6. Robert Wrixon
i) 1,250,000 0.06p
ii) 1,250,000 0.10p
iii) 1,250,000 0.06p
iv) 1,250,000 0.10p
7. Ed McDermott
i) 1,250,000 0.06p
ii) 1,250,000 0.10p
iii) 1,250,000 0.06p
iv) 1,250,000 0.10p
d)
Aggregated information:
Aggregated volume:
Price:
n/a
e)
Date of the transaction:
1 August 2020
f)
Place of the transaction:
Outside a trading Venue
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