UK's Emmerson jumps after securing litigation funding agreement
02/01/2025 08:26
** Shares of potash development company Emmerson EML.L
rise as much as 47.5% to 0.9p
** Morocco-focused co signs a capital provision
agreement with a specialist litigation funding firm
** Agreement to provide up to $11 mln in litigation finance
capital and working capital for co in its arbitration claim
against Moroccan government
** Co has been engaged in an investment dispute with the
Moroccan government regarding cash compensation for damages
incurred because of Morocco's breaches of a bilateral investment
treaty
** Confirms Boies Schiller Flexner (BSF) as its litigation
counsel
** "Encouragingly, BSF “tend to only take on winning cases”,
reinforcing Emmerson’s confidence in a positive outcome in its
arbitration claim against the Moroccan government" - Panmure
Liberum
** Emmerson stock rose 29% in 2024
(Reporting by Yamini Kalia in Bengaluru)
((Yamini.Kalia@thomsonreuters.com;))