Issue of Equity & Total Voting Rights

RNS Number : 3231T

Emmerson PLC

24 November 2021

 

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

24 November 2021

Issue of Equity and Total Voting Rights

Emmerson, the Moroccan focused potash development company, announces that further to the announcement of 10 November 2021 relating to the strategic investment of up to US$46.75 million for the development of the Khemisset Potash Project, the Company has issued 81,818,182 new ordinary shares at an issue price of 6p in respect of the initial equity component of the investment representing a total of US$6.75 million (the "Subscription Shares").

Following the issue of the 81,818,182 Subscription Shares the Company will have a total of 915,062,661 Ordinary Shares in issue. The Company does not hold any shares in Treasury. The above figure may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The above information is provided by the Company in accordance with its obligations under the FCA's Disclosure Guidance and Transparency Rules.

**ENDS**

For further information, please visit  www.emmersonplc.com , follow us on Twitter (@emmerson_plc), or contact:

Emmerson Plc Graham Clarke Hayden Locke Shore Capital (Nominated Adviser and Joint Broker) Toby Gibbs / John More Shard Capital (Joint Broker) Damon Heath / Isabella Pierre St Brides Partners (Financial PR/IR) Susie Geliher / Isabel de Salis

[phone]    [phone] [phone]  [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 NPV₈ of approximately US$1.4 billion using industry expert, Argus', price forecasts.

 

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