Application for Admission to AIM

RNS Number : 6163T

Emmerson PLC

26 March 2021

 

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

26 March 2021

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

Application for Admission to AIM

Emmerson plc, the Moroccan focused potash development company, is pleased to announce that it has applied for the cancellation of the listing of the Company's ordinary shares on the Official List and from trading on the Main Market ("Cancellation") and for admission to trading on the AIM Market of the London Stock Exchange ("Admission").

The Cancellation is expected to become effective at 8.00 a.m. on 27 April 2021 and Admission is expected to become effective at 8.00 a.m. on the same date, 27 April 2021.

Further information in relation to Admission, including a copy of the Appendix to the Schedule One Announcement (containing an updated Competent Person's Report) will be made available on the Company's website www.emmersonplc.com .

**ENDS**

For further information, please visit  www.emmersonplc.com , follow us on Twitter (@emmerson_plc), or contact:  Emmerson plc Graham Clarke [phone]  Shore Capital (Nominated Adviser and Joint Broker) Toby Gibbs / John More (Corporate Advisory) Jerry Keen (Corporate Broking) [phone]  Shard Capital (Joint Broker) Damon Heath / Isabella Pierre [phone] St Brides Partners Limited (Financial PR/IR) Megan Denison / Susie Geliher [phone]

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 NPV₁₀ of approximately US$1.4 billion using industry expert, Argus', price forecasts.

 

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