REG - Emmerson PLC - Grant of Share Options

EmmersonAnnouncement

15/03/2022 07:00

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RNS Number : 7480E  Emmerson PLC  15 March 2022

 

 

 

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

15 March 2022

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

Grant of Share Options

 

Emmerson, which is developing the world class Khemisset Potash Project in
Morocco, announces the grant of 9,000,000 share options to Jim Wynn, Chief
Financial Officer ("CFO") of the Company, on 15 March 2022 (the "Grant Date"),
following his appointment on 21 February 2022.

 Details of the Options to certain directors and senior management

 Director / Senior Management  New Options  Vesting Dates                                                                   Total options held
 Mr Jim Wynn                   9,000,000    ·   2,000,000 options with an exercise price of 7p/share vesting equally in     9,000,000
                                            12-month cycles over 24 months;

                                            ·   3,000,000 options with an exercise price of 10p/share vesting equally
                                            in 12-month cycles over 24 months; and

                                            ·   4,000,000 options with an exercise price of 15p/share vesting equally
                                            in 12-month cycles over 36 months.

 

**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)

 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, as outlined by a
transformative strategic investment of US$46.75 million received from a major
Singaporean fund and has a defined strategy and exceptional team of industry
experts to deliver this large, and strategic national asset.

 

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.
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 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 NPV10 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.

 

        Details of the person discharging managerial responsibilities/person closely

      associated
 1.
 a)     Name:                                                          Jim Wynn
 2.     Reason for the notification
 a)     Position/status:                                               CFO
 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:                                                          213800JA8ZK1K6CWYP61

 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 of NPV

        Identification code:

                                                                      ISIN: IM00BDHDTX83

 b)     Nature of the transaction:                                    Grant of Options
 c)     Price(s) and volume(s):

                                                                        Volume Price (£)

                                                                        Jim Wynn

                                                                      i)  2,000,000 0.07

                                                                      ii)  3,000,000 0.10

                                                                      iv)  4,000,000 0.15
 d)     Aggregated information:

        Aggregated volume:                                            n/a

        Price:
 e)     Date of the transaction:                                      15 March 2022
 f)     Place of the transaction:                                     Outside a trading Venue

 

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