REG - Emmerson PLC - Additional Issuance of Shares and Rights

EmmersonAnnouncement

13/01/2025 15:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250113:nRSM1315Ta&default-theme=true

RNS Number : 1315T  Emmerson PLC  13 January 2025

Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining

13 January 2025

Emmerson PLC

("Emmerson" or the "Company")

Additional Issuance of Award Shares

Emmerson Plc ("Emmerson" or the "Company"), the Moroccan focused potash
development company, announces an additional issue of shares and rights to the
Board and Management of the Company, further to the announcement on 12
December 2024.

Following the Initial Issue of Award Shares, notified in the Company's
announcement on 12 December 2024, the Company can now confirm that, having
successfully secured litigation funding, as announced on 2 January 2025, the
second tranche of the Award Shares are now to be issued to each of the members
of the Board and Management (the "Further Issue").

The Further Issue of Award Shares are being issued to each of the members of
the Board and Management on the following basis:

 Name           Position/status          Number of Existing Ordinary Shares  Number of Award Shares  Number of Ordinary Shares held following Admission  % of issued share capital held following Admission
 Graham Clarke  Executive Director, CEO  8,207,553                           6,000,000               14,207,553                                          1.10%
 Hayden Locke   Chairman                 13,082,352                          3,000,000               16,082,352                                          1.24%
 Robert Wrixon  Non-executive Director   50,771,872                          3,000,000               53,771,872                                          4.16%

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the Award Shares
pursuant to the Further Issue to be admitted to trading on AIM ("Admission")
and it is expected that Admission will become effective and dealing in the
Award Shares will commence on or around the 17 January 2025.  The Award
Shares will rank pari passu with the existing ordinary shares of the
Company.

Following Admission, the enlarged issued share capital of the Company will
comprise of 1,293,866,195 ordinary shares of no-par value each. No ordinary
shares are held in Treasury. The total number of voting rights in the Company
is therefore 1,293,866,195.

The above figure of 1,293,866,195 ordinary shares may be used by shareholders
of the Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change in
their interest in, the share capital of the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.

**ENDS**

 

Defined terms in this announcement have the same meaning as set out in the
announcement dated 12 December 2024, except where otherwise defined in this
announcement.

 For further information, please visit www.emmersonplc.com
 (http://www.emmersonplc.com) , follow us on Twitter (@emmerson_plc), or
 contact:

Emerson Plc                                                   +44 (0) 207 138 3204

 Graham Clarke / Hayden Locke
 Panmure Liberum Limited (Nominated Adviser and Joint Broker)  +44 (0) 20 3100 2000

 Scott Mathieson / Will King
 Shard Capital Partners LLP (Joint Broker)                     +44 (0) 207 186 9927

 Damon Heath / Isabella Pierre

 

 

 

Notes to Editors

Emmerson has been focused on advancing the Khemisset project ("Khemisset" or
the "Project") in Morocco into a low cost, high margin supplier of potash, and
the first primary producer on the African continent. With an initial 19-year
life of mine, the development of Khemisset is expected to deliver long-term
investment and financial contributions to Morocco including the creation of
permanent employment, taxation, and a plethora of ancillary benefits. As a
UK-Moroccan partnership, the Company has been working towards significant
international investment over the life of the mine.

Morocco is widely recognised as one of the leading phosphate producers
globally, ranking third in the world in terms of tonnes produced annually, and
the development of this mine is set to consolidate its position as the most
important fertiliser producer in Africa. The Project has a large JORC Resource
Estimate (2012) of 537Mt @ 9.24% K2O, with significant additional exploration
potential, and is perfectly located to support the expected growth of African
fertiliser consumption whilst also being located on the doorstep of European
markets. The need to feed the world's rapidly increasing population is driving
demand for potash and Khemisset is well placed to benefit from the
opportunities this presents. The Feasibility Study released in June 2020
indicated the Project 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. Updated financial estimates
published in February 2024 indicated a net present value of US$2.2 billion,
with an internal rate of return of approximately 40%.

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  FURPKNBPQBKDCDD