REG - Emmerson PLC - Application for Admission to AIM

EmmersonAnnouncement

26/03/2021 07:00

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RNS Number : 6163T  Emmerson PLC  26 March 2021

 

 

 

 

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

26 March 2021

Emmerson Plc ("Emmerson" or the "Company")

Application for Admission to AIM

 

Emmerson plc, the Moroccan focused potash development company, is pleased to
announce that it has applied for the cancellation of the listing of the
Company's ordinary shares on the Official List and from trading on the Main
Market ("Cancellation") and for admission to trading on the AIM Market of the
London Stock Exchange ("Admission").

 

The Cancellation is expected to become effective at 8.00 a.m. on 27 April 2021
and Admission is expected to become effective at 8.00 a.m. on the same date,
27 April 2021.

 

Further information in relation to Admission, including a copy of the Appendix
to the Schedule One Announcement (containing an updated Competent Person's
Report) will be made available on the Company's website www.emmersonplc.com
(http://www.emmersonplc.com) .

 

**ENDS**

 

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

Emmerson plc                                         +44 (0) 20 7236 1177

 Graham Clarke

 Shore Capital (Nominated Adviser and Joint Broker)   +44 (0)20 7408 4090

 Toby Gibbs / John More (Corporate Advisory)

 Jerry Keen (Corporate Broking)

 Shard Capital (Joint Broker)                         +44 (0) 20 7628 3396

 Damon Heath / Isabella Pierre

 St Brides Partners Limited (Financial PR/IR)         +44 (0)20 7236 1177

 Megan Denison / Susie Geliher

 

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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