Emmerson PLC Exercise of Options & Director/PDMR Shareholding (2219W)
August 16 2022 - 11:18AM
UK Regulatory
TIDMEML
RNS Number : 2219W
Emmerson PLC
16 August 2022
Emmerson PLC / Ticker: EML / Index: AIM / Sector: Mining
16 August 2022
Emmerson PLC ("Emmerson" or the "Company")
Exercise of Share Options and Allotment of Shares to
Director/PDMR
Emmerson PLC announces that it has received notice of the
exercise of 13,100,000 share options, including 12,000,000 share
options held by Benson Capital Limited, a consulting company
controlled by Hayden Locke, a Director of the Company.
These exercises were settled through a cashless exercise
mechanism, as a result of which 7,509,673 shares are to be
allotted, and no exercise price paid (including 6,879,090 to Hayden
Locke).
Following the allotment, Hayden Locke will hold a beneficial
interest in 8,909,660 shares in the Company (0.96% of the issued
share capital), and 10,000,000 share options at an average exercise
price of 8 pence.
Application has been made to the London Stock Exchange for the
admission of the 7,509,673 new Ordinary Shares to trading on AIM.
Admission is expected to take place on or around 8.00 a.m. on
Monday 22 August 2022.
Following Admission, the Company's issued share capital will
consist of 923,590,444 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 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/person
1. closely associated
a) Name: Hayden Locke
-------------------------------- --------------------------------------
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 share in satisfaction of
transaction: option exercise
-------------------------------- --------------------------------------
c) Price(s) and volume(s):
Volume Price (GBP)
6,879,090 at 0 .07030
-------------------------------- --------------------------------------
d) Aggregated information:
Aggregated volume: n/a
Price:
-------------------------------- --------------------------------------
e) Date of the transaction: 16 August 2022
-------------------------------- --------------------------------------
f) Place of the transaction: Outside a trading Venue
-------------------------------- --------------------------------------
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