Emmerson Plc / Ticker: EML / Index: AIM / Sector: Mining
4 June 2021
Emmerson Plc ("Emmerson" or the "Company")
Emmerson Plc, the Moroccan focused potash development company, announces that Mr Edward McDermott, Non-Executive Director of the Company, purchased 775,000 ordinary shares of nil par value each in the capital of the Company ("Ordinary Shares"), at 5.12 pence per share.
Following this purchase, Mr McDermott holds 1,250,000 Ordinary Shares representing approximately 0.15% per cent of the Company's issued share capital.
For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:
+44 (0) 20 7236 1177
Shore Capital (Nominated Adviser and Joint Broker)
Toby Gibbs / John More (Corporate Advisory)
Jerry Keen (Corporate Broking)
+44 (0)20 7408 4090
Shard Capital (Joint Broker)
Damon Heath / Isabella Pierre
+44 (0)20 7186 9927
St Brides Partners (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% 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.
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.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further details of above transaction.
Details of the person discharging managerial responsibilities / person closely associated
Reason for the notification
Initial notification /Amendment
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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
Description of the financial instrument, type of instrument
Nature of the transaction
Purchase of Ordinary shares
Price(s) and volumes(s)
- Aggregated volume
N/A single transaction
Date of the transaction
3 June 2021
Place of the transaction
London Stock Exchange (AIM)