Emmerson PLC Admission to AIM and Appointment of Chairman (6514W)
April 27 2021 - 01:00AM
UK Regulatory
TIDMEML
RNS Number : 6514W
Emmerson PLC
27 April 2021
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
27 April 2021
Emmerson Plc ("Emmerson" or the "Company")
Admission to AIM
and
Appointment of Chairman
Emmerson plc, the Moroccan focused potash development company,
is pleased to announce that admission of the Company's ordinary
shares to trading on AIM will take place at 8.00 a.m. today. In
conjunction with this, the listing of the Company's ordinary shares
on the Official List and from trading on the Main Market will be
cancelled. The Company's ordinary shares will continue to trade
under the TIDM "EML".
In addition, following the retirement of Non-Executive Chairman
Mark Connelly effective from today, the Company announces the
appointment of James Kelly, presently a Non-Executive Director on
the Board, as the new Non-Executive Chairman of Emmerson effective
from today (See RNS dated 25 March 2021).
Graham Clarke, CEO, commented : "The move to AIM is a key
element of our growth strategy which is focused on developing the
Khemisset potash project in Northern Morocco. Admission to AIM will
provide the Company with access to a market and environment which
is more suited, in the Board's view, to Emmerson's current size and
strategy and will support the Company during the rapid growth phase
expected in the coming months and years, as we look to build
Khemisset into a low cost, high margin supplier of potash to the
African and European markets. Finally, we welcome James as our new
Non-Executive Chairman, and we look forward to updating you on
further progress."
**ENDS**
For further information, please visit www.emmersonplc.com
, follow us on Twitter (@emmerson_plc), or contact:
Emmerson Plc
Graham Clarke +44 (0) 20 7236 1177
Shore Capital (Nominated Adviser
and Joint Broker)
Toby Gibbs / John More (Corporate
Advisory)
Jerry Keen (Corporate Broking) +44 (0)20 7408 4090
Shard Capital (Joint Broker)
Damon Heath / Isabella Pierre +44 (0)20 7186 9927
St Brides Partners (Financial PR/IR)
Megan Dennison / Susie Geliher +44 (0)20 7236 1177
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%
K(2) O 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(10) of approximately US$1.4 billion using
industry expert, Argus', price forecasts.
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END
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