Emmerson PLC Issue of Equity & Total Voting Rights (3231T)
November 24 2021 - 12:59AM
UK Regulatory
TIDMEML
RNS Number : 3231T
Emmerson PLC
24 November 2021
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
24 November 2021
Issue of Equity and Total Voting Rights
Emmerson, the Moroccan focused potash development company,
announces that further to the announcement of 10 November 2021
relating to the strategic investment of up to US$46.75 million for
the development of the Khemisset Potash Project, the Company has
issued 81,818,182 new ordinary shares at an issue price of 6p in
respect of the initial equity component of the investment
representing a total of US$6.75 million (the "Subscription
Shares").
Following the issue of the 81,818,182 Subscription Shares the
Company will have a total of 915,062,661 Ordinary Shares in issue.
The Company does not hold any shares in Treasury. The above figure
may therefore be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency
Rules.
The above information is provided by the Company in accordance
with its obligations under the FCA's Disclosure Guidance and
Transparency Rules.
**ENDS**
For further information, please visit www.emmersonplc.com ,
follow us on Twitter (@emmerson_plc), or contact:
Emmerson Plc
Graham Clarke
Hayden Locke +44 (0) 20 7236 1177
Shore Capital (Nominated Adviser and
Joint Broker) +44 (0)20 7408 4090
Toby Gibbs / John More
Shard Capital (Joint Broker)
Damon Heath / Isabella Pierre +44 (0)20 7186 9927
St Brides Partners (Financial PR/IR)
Susie Geliher / Isabel de Salis +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%
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 NPV(8) of approximately US$1.4 billion using
industry expert, Argus', price forecasts.
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END
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