Exercise of Warrants and Issue of Shares

RNS Number : 0444V

Emmerson PLC

12 April 2021

 

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

12 April 2021

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

Exercise of Warrants and Issue of Shares

Emmerson Plc, the Moroccan focused potash development company, is pleased to announce that it has received notice of the exercise of warrants from JIM Nominees Ltd in respect of 2,166,167 ordinary shares of no par value in the capital of the Company ("Ordinary Shares") at a price of 3 pence per share.  The aggregate gross proceeds of this exercise amounts to £64,985.01.

The Company will apply for the new shares to be admitted for trading on the Main Market and admission is expected to take place on 16 April 2021.  The 2,166,167 new Ordinary Shares will rank pari passu with the existing Ordinary Shares.

For the purpose of the Disclosure and Transparency Rules, following the admission of the 2,166,167 new Ordinary Shares (excluding any treasury shares) the new total number of shares in issue will be 825,410,648. Accordingly, this figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company, under the Disclosure and Transparency Rules.

The Directors of the issuer accept responsibility for the contents of this announcement.

**ENDS**

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

 

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