TIDMEML

RNS Number : 7078B

Emmerson PLC

06 June 2023

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

6 June 2023

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

Exercise of Share Options and Allotment of Shares to Director/PDMR

Emmerson PLC announces the allotment of a total of 12,250,000 shares in satisfaction of 24,750,000 share options at 3 pence held by current and former employees and consultants of the Company.

Of these, 6,000,000 share options were exercised gross, while 18,750,000 were exercised through a cashless exercise mechanism, as a result of which 6,250,000 shares are to be allotted with no exercise price paid, based on a mid-market close share price of 4.5 pence on 2 June 2023.

This cashless exercise includes 2,000,000 shares to be allotted to Robert Wrixon, a director of the Company. Following the allotment, Robert Wrixon will hold a beneficial interest in 46,233,411 shares in the Company (4.5% of the issued share capital), and 5,000,000 share options at an average exercise price of 8 pence.

Application has been made to the London Stock Exchange for the admission of the 12,250,000 new Ordinary Shares to trading on AIM. Admission is expected to take place on or around 8.00 a.m. on Monday 12 June 2023.

Following Admission, the Company's issued share capital will consist of 1,026,743,224 Ordinary Shares with voting rights. This figure may be used by shareholders in the Company 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 Company does not hold any Ordinary Shares in treasury.

**ENDS**

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

 
 Emmerson PLC                                    +44 (0) 20 7236 
  Graham Clarke / Jim Wynn / Charles Vaughan                1177 
 Liberum Capital Limited (Nominated Advisor 
  and Joint Broker)                               +44 (0)20 3100 
  Scott Mathieson / Kane Collings / Will King               2000 
 Shard Capital (Joint Broker)                     +44 (0)20 7186 
  Damon Heath / Isabella Pierre                             9927 
 BlytheRay (Financial PR and IR)                 +44 (0) 207 138 
  Tim Blythe / Megan Ray / Said Izagaren                    3204

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:                                        Robert Wrixon 
       --------------------------------  ------------------------------------- 
  2.                         Reason for the notification 
       ----------------------------------------------------------------------- 
  a)    Position/status:                                Director 
       --------------------------------  ------------------------------------- 
  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            Allotment of shares in satisfaction 
                  transaction:                     of option exercise 
       --------------------------------  ------------------------------------- 
  c)        Price(s) and volume(s): 
                                                      Volume Price (GBP) 
                                                      2 ,000,000 at GBP 0 .045 
       --------------------------------  ------------------------------------- 
  d)        Aggregated information: 
               Aggregated volume:                          n/a 
                     Price: 
       --------------------------------  ------------------------------------- 
  e)       Date of the transaction:                   5 J une 2023 
       --------------------------------  ------------------------------------- 
  f)       Place of the transaction:            Outside a trading Venue 
       --------------------------------  -------------------------------------

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END

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June 06, 2023 02:00 ET (06:00 GMT)

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