Holding(s) in Company

RNS Number : 7432F

Emmerson PLC

17 July 2019

 

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

17 July 2019

Holdings in Company

Emmerson Plc ("Emmerson" or the "Company"), the Moroccan focused potash development company, is pleased to announce that it has been notified that Dame Ann Gloag D.B.E. - founder of Stagecoach Group and a successful growth company investor - has increased her holding to approximately 3.02% per cent. of the Company's issued share capital, following the purchase of 5,674,234 Ordinary Shares and is now beneficially interested in 20,691,867 Ordinary Shares.

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii

Emmerson plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

x

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation: iii

Dame Ann Gloag D.B.E.

4. Full name of shareholder(s)  (if different from 3.):iv

5. Date of the transaction and date on which the threshold is crossed or reached: v

16 July 2019

6. Date on which issuer notified:

7. Threshold(s) that is/are crossed or reached: vi, vii

3%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of shares if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of  voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares 0.01p

15,017,633

15,017,633

20,691,867

20,691,867

3.02%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/ Conversion Period xiv

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date xvii

Exercise/ Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

20,691,867

3.02%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi
Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:
13. Additional information:
14. Contact name:
15. Contact telephone number:

**ENDS**

For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:  Hayden Locke Emmerson Plc Tel: [phone] Edward McDermott Jeremy King Optiva Securities Limited Joint Broker Tel: [phone] Damon Heath Isabella Pierre Shard Capital Partners LLC Tel: [phone] Gaby Jenner Melissa Hancock St Brides Partners Ltd Financial PR/IR Tel: [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 311.4Mt @ 10.2% 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 Scoping Study released in November 2018 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 US$1.14 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.

 

END

 

 

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