REG - Emmerson PLC - Notice of AGM and Posting of Annual Report

EmmersonAnnouncement

05/05/2023 07:00

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RNS Number : 4862Y  Emmerson PLC  05 May 2023

 

 

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

5 May 2023

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

Notice of AGM and Posting of Annual Report

 

Emmerson PLC, the Moroccan focused potash development company, announces that
its Annual General Meeting ("AGM") will be held at 11.00am BST on 31 May 2023
at 55 Athol Street, Douglas Isle of Man, IM1 1LA.

 

The Notice of AGM and a Form of Proxy, together with a copy of the 2022 Annual
Report and Accounts, will be sent today to shareholders.

 

These documents are available to view on the Company's website at the
following address: www.emmersonplc.com/investors/corporate-documents/
(http://www.emmersonplc.com/investors/corporate-documents/)

 

**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

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

 Scott Mathieson / William King

 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 / Isabelle Morris

 

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
only 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 second 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.

 

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