TIDMEML

RNS Number : 7480E

Emmerson PLC

15 March 2022

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

15 March 2022

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

Grant of Share Options

Emmerson, which is developing the world class Khemisset Potash Project in Morocco, announces the grant of 9,000,000 share options to Jim Wynn, Chief Financial Officer ("CFO") of the Company, on 15 March 2022 (the "Grant Date"), following his appointment on 21 February 2022.

Details of the Options to certain directors and senior management

 
 Director /            New Options    Vesting Dates                                                   Total options 
  Senior Management                                                                                    held 
 
                                        *    2,000,000 options with an exercise price of 7p/share 
                                             vesting equally in 12-month cycles over 24 months; 
 
 
                                        *    3,000,000 options with an exercise price of 10p/share 
                                             vesting equally in 12-month cycles over 24 months; 
                                             and 
 
 
                                        *    4,000,000 options with an exercise price of 15p/share 
 Mr Jim Wynn           9,000,000             vesting equally in 12-month cycles over 36 months.       9,000,000 
                      -------------  --------------------------------------------------------------  -------------- 
 

**ENDS**

For further information, please visit www.emmersonplc.com , follow us on Twitter (@emmerson_plc), or contact:

 
 Emmerson Plc                                          +44 (0) 20 7236 
  Graham Clarke                                                   1177 
 Shore Capital (Nominated Adviser and Joint Broker)     +44 (0)20 7408 
  Toby Gibbs / John More (Corporate Advisory)                     4090 
                                                        +44 (0)20 3100 
 Liberum Capital Limited (Joint Broker)                           2000 
 Scott Mathieson / Lydia Zychowska 
 
 Shard Capital (Joint Broker)                           +44 (0)20 7186 
  Damon Heath / Isabella Pierre                                   9927 
 St Brides Partners (Financial PR/IR)                   +44 (0)20 7236 
  Susie Geliher / Charlotte Page                                  1177 
 

Notes to Editors

Emmerson is focused on advancing the Khemisset project ("Khemisset" or the "Project") in Morocco into a low cost, high margin supplier of potash, and the first primary producer on the African continent. With an initial 19-year life of mine, the development of Khemisset is expected to deliver long-term investment and financial contributions to Morocco including the creation of permanent employment, taxation and a plethora of ancillary benefits. As a UK-Moroccan partnership, the Company is committed to bringing in significant international investment over the life of the mine, as outlined by a transformative strategic investment of US$46.75 million received from a major Singaporean fund and has a defined strategy and exceptional team of industry experts to deliver this large, and strategic national asset.

Morocco is widely recognised as one of the leading phosphate producers globally, ranking third in the world in terms of tonnes produced annually, and the development of this mine is set to consolidate its position as the most important fertiliser producer in Africa. The Project has a large JORC Resource Estimate (2012) of 537Mt @ 9.24% K2O, with significant exploration potential, and is perfectly located to support 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 Khemisset is well placed to benefit from the opportunities this presents. The Feasibility Study released in June 2020 indicated the Project 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, and the spot price for granular MOP fertiliser has since risen, further enhancing the valuations.

 
         Details of the person discharging managerial responsibilities/person 
   1.                             closely associated 
  a)    Name:                                 Jim Wynn 
       -----------------------------------  ---------------------------------- 
  2.                         Reason for the notification 
       ----------------------------------------------------------------------- 
  a)    Position/status:                           CFO 
       -----------------------------------  ---------------------------------- 
  b)    Initial notification/Amendment:            Initial notification 
       -----------------------------------  ---------------------------------- 
  3.    Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
       ----------------------------------------------------------------------- 
  a)    Name:                                          Emmerson Plc 
       -----------------------------------  ---------------------------------- 
  b)    LEI: 
                                                    213800JA8ZK1K6CWYP61 
       -----------------------------------  ---------------------------------- 
  4.    Details of the transaction(s): section to be repeated for 
         (i) each type of instrument; (ii) each type of transaction; 
         (iii) each date; and (iv) each place where transactions 
         have been conducted 
       ----------------------------------------------------------------------- 
  a)    Description of                            Ordinary Shares of NPV 
         the financial 
         instrument, type                            ISIN: IM00BDHDTX83 
         of instrument: 
         Identification 
         code: 
       -----------------------------------  ---------------------------------- 
  b)              Nature of the                      Grant of Options 
                   transaction: 
       -----------------------------------  ---------------------------------- 
  c)         Price(s) and volume(s): 
                                                          Volume Price (GBP) 
                                                          Jim Wynn 
                                                          i) 2,000,000 0.07 
                                                          ii) 3,000,000 0.10 
                                                          iv) 4,000,000 0.15 
       -----------------------------------  ---------------------------------- 
  d)         Aggregated information: 
                Aggregated volume:                           n/a 
                      Price: 
       -----------------------------------  ---------------------------------- 
  e)         Date of the transaction:                 1 5 March 2022 
       -----------------------------------  ---------------------------------- 
  f)        Place of the transaction:             Outside a trading Venue 
       -----------------------------------  ---------------------------------- 
 

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END

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March 15, 2022 03:00 ET (07:00 GMT)

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