Emmerson PLC Grant of Share Options (7480E)
March 15 2022 - 2:00AM
UK Regulatory
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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