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Emmerson PLC (EML)

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Tuesday 19 January, 2021

Emmerson PLC

Exercise of Warrants and Issue of Shares

RNS Number : 0929M
Emmerson PLC
19 January 2021
 

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

19 January 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 Optiva Securities Limited in respect of 389,333 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 £11,649.99.

 

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 20 January 2021.  The 389,333 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 389,333 new Ordinary Shares (excluding any treasury shares) the new total number of shares in issue will be 726,992,307.  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

+44 (0) 20 7236 1177 

 

Jerry Keen

Toby Gibbs

John More

 

Shore Capital

 

 

+44 (0)20 7408 4090 




Damon Heath

Isabella Pierre

Shard Capital

+44 (0) 20 7628 3396

 

Megan Denison

Susie Geliher

 

St Brides Partners Limited

Financial PR/IR

 

+44 (0)20 7236 1177

 

 

 

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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