REG - Emmerson PLC - Change of Nominated Advisor and Joint Broker

EmmersonAnnouncement

01/07/2024 07:00

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RNS Number : 4437U  Emmerson PLC  01 July 2024

Emmerson PLC / Ticker: EML / Index: AIM / Sector: Mining

1 July 2024

Emmerson PLC ("Emmerson" or the "Company")

 

Change of Nominated Advisor and Joint Broker

 

Emmerson PLC ("Emmerson" or the "Company"), the Moroccan focused potash
development company, is pleased to announce that, following the completion of
the all-share merger between Liberum Capital Limited and Panmure Gordon Group
Limited, the Company has changed its Nominated Adviser and Joint Broker to
Panmure Liberum Limited with immediate effect.

 

**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) 207 138 3204

 Graham Clarke / Jim Wynn / Charles Vaughan

 Panmure Liberum Limited (Nominated Advisor and Joint Broker)  +44 (0)20 3100 2000

 Scott Mathieson / Matthew Hogg

 Shard Capital LLP (Joint Broker)                              +44 (0)20 7186 9927

 Damon Heath / Isabella Pierre

 BlytheRay (Financial PR and IR)                               +44 (0) 207 138 3204

 Tim Blythe / Megan Ray / Said Izagaren

Notes to Editors

Emmerson is 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 is committed to bringing in 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 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%.

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