TIDMEML

RNS Number : 0313T

Emmerson PLC

19 July 2022

The following amendment has been made to the 'Director/PDMR Shareholding' announcement released on 18 July 2022 at 4.00 p.m. under RNS No 8650S.

The LEI has been corrected to 213800JA8ZK1K6CWYP61.

All other details remain unchanged.

The full amended text is shown below.

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

18 July 2022

Director/PDMR Shareholding

Emmerson, which is developing the world class Khemisset Potash Project in Morocco, today announces the purchase of ordinary shares of nil par value in the capital of the Company ("Ordinary Shares") by Mr Rupert Joy, Non-Executive Director. Mr Joy purchased 140,000 Ordinary Shares at 7.025 pence per share. Following this purchase, Mr Joy holds 290,000 Ordinary Shares representing approximately 0.032% 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 P LC                                   +44 (0) 20 7236 
  Graham Clarke / Jim Wynn / Charles Va ughan               1177 
 Shore Capital (Nominated Adviser and Joint 
  Broker)                                         +44 (0)20 7408 
  Toby Gibbs / John More                                    4090 
 Liberum Capital Limited (Joint Broker)           +44 (0)20 3100 
  Scott Mathieson / Lydia Zychowska                         2000 
 Shard Capital (Joint Broker)                     +44 (0)20 7186 
  Damon Heath / Isabella Pierre                             9927 
 St Brides Partners (Financial PR/IR)             +44 (0)20 7236 
  Susie Geliher / Charlotte Page                            1177 
 

Notes to Editors

Emmerson is focused on advancing the Khemisset project ("Khemisset" or the "Project") in Morocco into a low cost, high margin supplier of potash, and the first primary producer on the African continent. With an initial 19-year life of mine, the development of Khemisset is expected to deliver long-term investment and financial contributions to Morocco including the creation of permanent employment, taxation and a plethora of ancillary benefits. As a UK-Moroccan partnership, the Company is committed to bringing in significant international investment over the life of the mine.

Morocco is widely recognised as one of the leading phosphate producers globally, ranking third in the world in terms of tonnes produced annually, and the development of this mine is set to consolidate its position as the most important fertiliser producer in Africa. The Project has a large JORC Resource Estimate (2012) of 537Mt @ 9.24% K2O, with significant exploration potential, and is perfectly located to support the expected growth of African fertiliser consumption whilst also being located on the doorstep of European markets. The need to feed the world's rapidly increasing population is driving demand for potash and Khemisset is well placed to benefit from the opportunities this presents. The Feasibility Study released in June 2020 indicated the Project 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, and the spot price for granular MOP fertiliser has since risen, further enhancing the valuations.

 
       Details of the person discharging managerial responsibilities 
  1     / person closely associated 
 a)    Name                                Rupert Joy 
      ----------------------------------  -------------------------------------- 
       Reason for the notification 
  2 
      -------------------------------------------------------------------------- 
 a)    Position/status                     Non-Executive Director 
      ----------------------------------  -------------------------------------- 
 b)    Initial notification                Initial notification 
        /Amendment 
      ----------------------------------  -------------------------------------- 
       Details of the issuer, emission allowance market participant, 
  3     auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------- 
 a)    Name                                Emmerson PLC 
      ----------------------------------  -------------------------------------- 
 b)    LEI                                 213800JA8ZK1K6CWYP61 
      ----------------------------------  -------------------------------------- 
       Details of the transaction(s): section to be repeated 
  4     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                  Ordinary shares 
        financial instrument, 
        type of instrument 
 
       Identification code                 EML.L 
 
 b)    Nature of the transaction           Share Purchase 
      ----------------------------------  -------------------------------------- 
 c)    Price(s) and volume(s) 
                                           ---------------------  ------------ 
                                            Price(s)               Volume(s) 
                                           ---------------------  ------------ 
    7.025 pence per 
     share                                                         140,000 
   -------------------------------------------------------------  ------------ 
 
 d)    Aggregated information 
 
  - Aggregated volume                 140,000 
 
  - Price                             7.025 pence per share 
 
 e)    Date of the transaction             18 July 2022 
      ----------------------------------  -------------------------------------- 
 f)    Place of the transaction            London Stock Exchange 
      ----------------------------------  -------------------------------------- 
 

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END

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July 19, 2022 12:05 ET (16:05 GMT)

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