REG - Emmerson PLC - Director/PDMR Shareholding

EmmersonAnnouncement

18/07/2022 16:00

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RNS Number : 8650S  Emmerson PLC  18 July 2022

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

18 July 2022

 

Director/PDMR Shareholding

 

Emmerson, which is developing the world class Khemisset Potash Project in
Morocco, today announces the purchase of ordinary shares of nil par value in
the capital of the Company ("Ordinary Shares") by Mr Rupert Joy, Non-Executive
Director. Mr Joy purchased 140,000 Ordinary Shares at 7.025 pence per share.
Following this purchase, Mr Joy holds 290,000 Ordinary Shares representing
approximately 0.032% per cent of the Company's issued share capital.

 

**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 / Jim Wynn / Charles Vaughan

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

 Toby Gibbs / John More

 Liberum Capital Limited (Joint Broker)              +44 (0)20 3100 2000

 Scott Mathieson / Lydia Zychowska
 Shard Capital (Joint Broker)                        +44 (0)20 7186 9927

 Damon Heath / Isabella Pierre

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

 Susie Geliher / Charlotte Page

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. This delivered outstanding economics, including a
post-tax NPV8 of approximately US$1.4 billion using industry expert Argus'
price forecasts, and the spot price for granular MOP fertiliser has since
risen, further enhancing the valuations.

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Rupert Joy

 2    Reason for the notification

 a)   Position/status                                              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                                                          213800FPF38IBPRFPU87

 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  Ordinary shares

      Identification code                                          EML.L

 b)   Nature of the transaction                                    Share Purchase

 c)   Price(s) and volume(s)

                                                                                     Price(s)               Volume(s)
                                                                                     7.025 pence per share  140,000

 d)   Aggregated information

      - Aggregated volume                                          140,000

      - Price                                                      7.025 pence per share

 e)   Date of the transaction                                      18 July 2022

 f)   Place of the transaction                                     London Stock Exchange

 

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