REG - Emmerson PLC - Result of General Meeting

EmmersonAnnouncement

06/12/2021 12:35

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RNS Number : 6981U  Emmerson PLC  06 December 2021

 

 

 

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

6 December 2021

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

Result of General Meeting

 

Emmerson Plc ("Emmerson" or "the Company"), the Moroccan focused potash
development company, is pleased to announce that at the Company's General
Meeting held earlier today, all of the resolutions proposed were duly passed.

 

Accordingly, and as set out in the announcement dated 10 November 2021, the
Company now has the requisite authority to issue the Conversion Shares, the
Warrant Shares and the Interest Shares in conjunction with the Company's
strategic investment of up to US$46.75 million.

 

Capitalised terms used in this announcement have the meanings given to them in
the Strategic Investment announcement published by the Company on 10 November
2021.

 

The documents relating to the General Meeting are available to view on the
Company's website:

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

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

 Toby Gibbs / John More (Corporate Advisory)

 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 NPV10 of approximately US$1.4 billion using industry expert, Argus',
price forecasts.

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