TIDMEML

RNS Number : 7070A

Emmerson PLC

27 September 2022

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

27 September 2022

Emmerson PLC ("Emmerson" or the "Company")

Director/PDMR Shareholding

Emmerson announces the purchase of ordinary shares of nil par value in the capital of the Company ("Ordinary Shares") by Jim Wynn, CFO and a PDMR. Mr Wynn purchased 159,872 Ordinary Shares at 6.25 pence per share. Following this purchase, Mr Wynn holds 159,872 Ordinary Shares representing approximately 0.016% 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                                           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/person 
   1.                               closely associated 
  a)    Name:                                            Jim Wynn 
       --------------------------------  ---------------------------------------- 
  2.                           Reason for the notification 
       -------------------------------------------------------------------------- 
  a)    Position/status:                                    CFO 
       --------------------------------  ---------------------------------------- 
  b)    Initial notification/Amendment:            Initial notification 
       --------------------------------  ---------------------------------------- 
  3.    Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
       -------------------------------------------------------------------------- 
  a)    Name:                                          Emmerson PLC 
       --------------------------------  ---------------------------------------- 
  b)    LEI:                                       213800JA8ZK1K6CWYP61 
       --------------------------------  ---------------------------------------- 
  4.    Details of the transaction(s): section to be repeated 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                            Ordinary Shares of NPV 
         the financial 
         instrument, type                            ISIN: IM00BDHDTX83 
         of instrument: 
         Identification 
         code: 
       --------------------------------  ---------------------------------------- 
  b)             Nature of the                           Purchase 
                  transaction: 
       --------------------------------  ---------------------------------------- 
  c)        Price(s) and volume(s):        159,872 Ordinary Shares at 6 .25 pence 
       --------------------------------  ---------------------------------------- 
  d)        Aggregated information: 
               Aggregated volume:                 n/a - single transaction 
                     Price: 
       --------------------------------  ---------------------------------------- 
  e)       Date of the transaction:                  26 September 2022 
       --------------------------------  ---------------------------------------- 
  f)       Place of the transaction:               London Stock Exchange 
       --------------------------------  ---------------------------------------- 
 

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END

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September 27, 2022 02:01 ET (06:01 GMT)

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