Director/PDMR Shareholding

RNS Number : 8983A

Emmerson PLC

04 June 2021

 

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

4 June 2021

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

Director/PDMR Shareholding

Emmerson Plc, the Moroccan focused potash development company, announces that Mr Edward McDermott, Non-Executive Director of the Company, purchased 775,000 ordinary shares of nil par value each in the capital of the Company ("Ordinary Shares"), at 5.12 pence per share.

Following this purchase, Mr McDermott holds 1,250,000 Ordinary Shares representing approximately 0.15% 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 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 (Financial PR/IR) Susie Geliher	[phone]

Notes to Editors

Emmerson's primary focus is on developing the Project located in Northern Morocco.  The Project has a large JORC Resource Estimate (2012) of 537Mt @ 9.24% K ₂ O 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 NPV ₁₀  of approximately US$1.4 billion using industry expert, Argus', price forecasts.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further details of above transaction.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Edward McDermott
2	Reason for the notification
a)	Position/status	Non-Executive Director
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 the financial instrument, type of instrument	Ordinary shares
	Identification code	IM00BDHDTX83
b)	Nature of the transaction	Purchase of Ordinary shares
c)	Price(s) and volumes(s)	Price(s) Volumes £0.0512 775,000
d)	Aggregated information -  Aggregated volume -  Price	N/A single transaction
e)	Date of the transaction	3 June 2021
f)	Place of the transaction	London Stock Exchange (AIM)

 

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