REG - Emmerson PLC - Issue of Equity & Total Voting Rights

EmmersonAnnouncement

24/11/2021 07:00

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RNS Number : 3231T  Emmerson PLC  24 November 2021

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

24 November 2021

 

Issue of Equity and Total Voting Rights

 

Emmerson, the Moroccan focused potash development company, announces that
further to the announcement of 10 November 2021 relating to the strategic
investment of up to US$46.75 million for the development of the Khemisset
Potash Project, the Company has issued 81,818,182 new ordinary shares at an
issue price of 6p in respect of the initial equity component of the investment
representing a total of US$6.75 million (the "Subscription Shares").

 

Following the issue of the 81,818,182 Subscription Shares the Company will
have a total of 915,062,661 Ordinary Shares in issue. The Company does not
hold any shares in Treasury. The above figure may therefore be used by
shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

The above information is provided by the Company in accordance with its
obligations under the FCA's Disclosure Guidance and Transparency Rules.

 

 

**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

 Hayden Locke

                                                                             +44 (0)20 7408 4090

 Shore Capital (Nominated Adviser and Joint Broker)

 Toby Gibbs / John More

 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 / Isabel de Salis

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% K2O 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(8) of approximately US$1.4 billion using industry expert, Argus',
price forecasts.

 

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