Emmerson PLC Result of General Meeting (6981U)
06 Diciembre 2021 - 6:31AM
UK Regulatory
TIDMEML
RNS Number : 6981U
Emmerson PLC
06 December 2021
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
6 December 2021
Emmerson Plc ("Emmerson" or the "Company")
Result of General Meeting
Emmerson Plc ("Emmerson" or "the Company"), the Moroccan focused
potash development company, is pleased to announce that at the
Company's General Meeting held earlier today, all of the
resolutions proposed were duly passed.
Accordingly, and as set out in the announcement dated 10
November 2021, the Company now has the requisite authority to issue
the Conversion Shares, the Warrant Shares and the Interest Shares
in conjunction with the Company's strategic investment of up to
US$46.75 million.
Capitalised terms used in this announcement have the meanings
given to them in the Strategic Investment announcement published by
the Company on 10 November 2021.
The documents relating to the General Meeting are available to
view on the Company's website:
www.emmersonplc.com/investors/corporate-documents/
**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 1177
Shore Capital (Nominated Adviser and Joint Broker) +44 (0)20 7408
Toby Gibbs / John More (Corporate Advisory) 4090
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 / Isabel de Salis 1177
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 NPV10 of approximately US$1.4 billion using
industry expert, Argus', price forecasts.
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END
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December 06, 2021 07:31 ET (12:31 GMT)
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