Emmerson PLC Appointment of Non-Exec Director & Board Changes (8380E)
July 12 2021 - 1:00AM
UK Regulatory
TIDMEML
RNS Number : 8380E
Emmerson PLC
12 July 2021
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
12 July 2021
Emmerson Plc ("Emmerson" or the "Company")
Appointment of Non-Executive Director & Board Changes
Emmerson Plc, the Moroccan focused potash development company,
is pleased to announce the appointment of Mr. Rupert Joy as a
Non-Executive Director, with immediate effect. The appointment of
Mr. Joy, who is an experienced diplomat and former Ambassador &
Head of the EU Delegation to Morocco, is designed to further
strengthen the Company's national profile and networks as Emmerson
advances towards the construction of Africa's first commercial
potash mine in Morocco.
The Company also announces that Mr. Edward McDermott, a
Non-Executive Director, will be stepping down from the Board, with
effect from today.
In the course of a diplomatic career of more than 25 years,
Rupert Joy has served at UK diplomatic missions in Yemen, Saudi
Arabia, Morocco and Iraq, and as British Ambassador to Uzbekistan.
He has over seven years' experience as a diplomat in Morocco, as
Deputy Head of Mission at the British Embassy in Rabat from 2000-03
and as EU Ambassador and Head of the EU Delegation in Rabat from
2013-17. As EU Ambassador, he worked to build on Europe's
multi-faceted strategic partnership with Morocco at a senior level
in a wide range of areas, with a strong focus on sustainable
development. Mr. Joy has worked as an independent consultant for
the past four years, providing support to UK government departments
and private clients on issues relating to regional stability,
investment, security, and migration in North Africa. He speaks
French and Arabic.
Graham Clarke, CEO of Emmerson, commented:
"Rupert has extensive experience in one of the most senior
European diplomatic posts as EU Ambassador to Morocco and we
believe this will be highly valuable as we advance our Khemisset
Potash Project to become the first commercial potash mine in
Africa. Our project is strategically located; not only is it in
close proximity to both port and road infrastructure in a regional
context, but Morocco is poised to become an integrated fertiliser
production hub once Khemisset commences production. Rupert's
appointment comes at an exciting time in our corporate and
operational development in Morocco and I look forward to working
with him as we continue to build commercial partnerships across
Morocco and the wider global markets.
"I would also like to take this opportunity to thank Ed for the
significant contribution he has made during his time as a
non-executive director of Emmerson Plc. Ed has been with the
Company since incorporation and played a vital role in the
transaction that brought the Khemisset project to the Company. His
industry knowledge and experience have been of real benefit to the
Board and we wish him well in his future endeavours."
Rupert Joy commented:
"I am delighted to be joining the board of Emmerson as a
Non-Executive Director at this exciting time in the Company's
development. My experience of working in Morocco as a British and
EU diplomat has given me huge admiration, and affection, for the
kingdom. Morocco is one of the most dynamic countries in the region
and has a key role to play in building Africa's food security. With
its world-leading expertise in fertilisers and commitment to
sustainable development, the kingdom is rapidly developing into an
African leader in agriculture, as well as in water management and
renewable energy. I look forward to supporting Emmerson in its
ambition to build strong, mutually beneficial partnerships in
Morocco."
Additional Information
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies.
Mr. Rupert Joy (aged 58) has held the following directorships or
partnerships in the past five years.
Current Directorships/ Partnerships Past Directorships/ Partnerships
over the last five years
Greentoft Farms Ltd
--------------------------------
Carrick Farm LLP
--------------------------------
**ENDS**
For further information, please visit www.emmersonplc.com ,
follow us on Twitter (@emmerson_plc), or contact:
+44 (0) 20 7236
Emmerson Plc Graham Clarke 1177
Toby Gibbs / John
More
(Corporate Advisory)
Shore Capital
(Nominated Adviser and Joint Jerry Keen +44 (0) 20 7408
Broker) (Corporate Broking) 4090
Shard Capital Damon Heath / Isabella +44 (0)20 7186
(Joint Broker) Pierre 9927
St Brides Partners Susie Geliher / Isabel +44 (0)20 7236
(Financial PR/IR) de Salis 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%
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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