Last checked at 29 Nov 2021 07:00
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
29 November 2021
Director/PDMR Shareholding
Emmerson Plc, the Moroccan focused potash development company, today announces the purchase of ordinary shares of nil par value in the capital of the Company ("Ordinary Shares") by Mr Rupert Joy, Non Executive Director. Mr Joy purchased 150,000 Ordinary Shares at 6.25 pence per share. Following this purchase, Mr Joy holds 150,000 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 Plc Graham Clarke Hayden Locke
Shore Capital (Nominated Adviser and Joint Broker) Toby Gibbs / John More
Shard Capital (Joint Broker) Damon Heath / Isabella Pierre
St Brides Partners (Financial PR/IR) Susie Geliher / Isabel de Salis | +44 (0) 20 7236 1177
+44 (0)20 7408 4090
+44 (0)20 7186 9927
+44 (0)20 7236 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 NPV8 of approximately US$1.4 billion using industry expert, Argus', price forecasts.
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Rupert Joy | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Non executive 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
| 213800FPF38IBPRFPU87 | |||
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 the financial instrument, type of instrument | Ordinary shares | |||
Identification code | EML.L | ||||
b)
| Nature of the transaction
| Share Purchase | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
6.25 pence per share | 150,000 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 150,000 | ||||
- Price | 6.25 pence per share | ||||
e)
| Date of the transaction
| 26 November 2021 | |||
f)
| Place of the transaction
| London Stock Exchange | |||