Emmerson PLC Director/PDMR Shareholding (8650S)
July 18 2022 - 10:00AM
UK Regulatory (RNS & others)
TIDMEML
RNS Number : 8650S
Emmerson PLC
18 July 2022
Emmerson PLC / Ticker: EML / Index: LSE / Sector: Mining
18 July 2022
Director/PDMR Shareholding
Emmerson, which is developing the world class Khemisset Potash
Project in Morocco, today announces the purchase of ordinary shares
of nil par value in the capital of the Company ("Ordinary Shares")
by Mr Rupert Joy, Non-Executive Director. Mr Joy purchased 140,000
Ordinary Shares at 7.025 pence per share. Following this purchase,
Mr Joy holds 290,000 Ordinary Shares representing approximately
0.032% per cent of the Company's issued share capital.
**ENDS**
For further information, please visit www.emmersonplc.com ,
follow us on Twitter (@emmerson_plc), or contact:
Emmerson P LC +44 (0) 20 7236
Graham Clarke / Jim Wynn / Charles Va ughan 1177
Shore Capital (Nominated Adviser and Joint
Broker) +44 (0)20 7408
Toby Gibbs / John More 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.
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 NPV8 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
1 / person closely associated
a) Name Rupert Joy
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Reason for the notification
2
--------------------------------------------------------------------------
a) Position/status Non-Executive Director
---------------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
---------------------------------- --------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Emmerson PLC
---------------------------------- --------------------------------------
b) LEI 213800FPF38IBPRFPU87
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Details of the transaction(s): section to be repeated
4 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 the Ordinary shares
financial instrument,
type of instrument
Identification code EML.L
b) Nature of the transaction Share Purchase
---------------------------------- --------------------------------------
c) Price(s) and volume(s)
--------------------- ------------
Price(s) Volume(s)
--------------------- ------------
7.025 pence per
share 140,000
------------------------------------------------------------- ------------
d) Aggregated information
- Aggregated volume 140,000
- Price 7.025 pence per share
e) Date of the transaction 18 July 2022
---------------------------------- --------------------------------------
f) Place of the transaction London Stock Exchange
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END
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