Emmerson PLC Notice of AGM and Posting of Annual Report (5576O)
June 13 2022 - 1:00AM
UK Regulatory
TIDMEML
RNS Number : 5576O
Emmerson PLC
13 June 2022
Emmerson PLC / Ticker: EML / Index: AIM / Sector: Mining
13 June 2022
Emmerson PLC ("Emmerson" or the "Company")
Notice of AGM and Posting of Annual Report
Emmerson PLC, the Moroccan focused potash development company,
announces that its Annual General Meeting ("AGM") will be held at
11.00am BST on 7 July 2022 at 55 Athol Street, Douglas Isle of Man,
IM1 1LA.
The Notice of AGM and a Form of Proxy, together with a copy of
the 2021 Annual Report and Accounts, have been sent today to
shareholders.
These documents are available to view on the Company's website:
www.emmersonplc.com/investors/corporate-documents/
**ENDS**
For further information, please visit www.emmersonplc.com ,
follow us on Twitter (@emmerson_plc), or contact:
Emmerson P LC
Graham Clarke
Jim Wynn +44 (0) 20 7236
Charles Vaughan 1177
Shore Capital (Nominated Adviser and Joint
Broker) +44 (0)20 7408
Toby Gibbs / John More (Corporate Advisory) 4090
Liberum Capital Limited (Joint Broker) +44 (0)20 3100
Scott Mathieson / Lydia Zychowska 2000
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. 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 NPV (8) of approximately US$1.4
billion using industry expert Argus' s price forecasts in 2020. The
spot price for granular MOP fertiliser has since risen nearly
three-fold, highlighting the significant upside to this
valuation.
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END
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