Last checked at 6 Aug 2020 11:45
The following amendments have been made to the Grant of Share Options announcement released on 5 August 2020 at 16.10 under RNS No 2730V.
The exercise prices should read £0.001, £0.05, £0.06, £0.07 and £0.10.
All other details remain unchanged. The full amended text is shown below.
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
6 August 2020
Emmerson Plc ("Emmerson" or the "Company")
Grant of Share Options
Emmerson Plc, the Moroccan focused potash development company, announces the grant of 55,000,000 (55 million) options to subscribe for new ordinary shares in the Company (the "New Options") to certain directors and senior management of the Company with effect from 1 August 2020 (the "Grant Date").
Details of the Options
Director / Senior Management | New Options | Vesting Dates | Total options held |
Mr Graham Clarke | 17,500,000 | · 500,000 Options on the first anniversary of the Grant Date at a price of £0.001 per ordinary share; · 1,000,000 Options on the first anniversary of the Grant Date at a price of £0.05 per ordinary share; · 2,000,000 Options on the first anniversary of the Grant Date at a price of £0.07 per ordinary share; · 3,333,333 Options on the first anniversary of the Grant Date at a price of £0.10 per ordinary share.
· 1,000,000 Options on the second anniversary of the Grant Date at a price of £0.001 per ordinary share; · 1,000,000 Options on the second anniversary of the Grant Date at a price of £0.05 per ordinary share; · 2,000,000 Options on the second anniversary of the Grant Date at a price of £0.07 per ordinary share; · 3,333,333 Options on the second anniversary of the Grant Date at a price of £0.10 per ordinary share.
· 3,333,334 Options on the third anniversary of the Grant Date at a price of £0.10 per ordinary share. | 17,500,000 |
Mr Said Hamdioui | 3,500,000 | · 750,000 Options on the Grant Date at a price of £0.06 per ordinary share; · 1,000,000 on the Grant Date at a price of £0.10 per ordinary share; · 750,000 Options on the first anniversary of the Grant Date at a price of £0.06 per ordinary share; and · 1,000,000 Options on the first anniversary of the Grant Date at a price of £0.10 per ordinary share; | 9,500,000 |
Mr Phil Cleggett | 9,000,000 | · 2,500,000 Options on the Grant Date at a price of £0.06 per ordinary share · 2,000,000 Options on the Grant Date at a price of £0.10 per ordinary share · 2,500,000 Options on the first anniversary of the Grant Date at a price of £0.06 per ordinary share · 2,000,000 Options on the first anniversary of the Grant Date at a price of £0.10 per ordinary share | 14,000,000 |
Mr Hayden Locke | 10,000,000 | · One quarter of the Options on the Grant Date at a price of £0.06 per ordinary share; · one quarter of the Options on the Grant Date at a price of £0.10 per ordinary share; · one quarter of the Options on the first anniversary of the Grant Date at a price of £0.06 per ordinary share; and · one quarter of the Options on the first anniversary of the Grant Date at a price of £0.10 per ordinary share. | 22,000,000 |
Mr Mark Connelly | 5,000,000 | 8,000,000 | |
Mr Robert Wrixon | 5,000,000 | 11,000,000 | |
Mr Ed McDermot | 5,000,000 | 11,000,000 |
**ENDS**
For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:
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Notes to Editors
Emmerson's primary focus is on developing the Khemisset Potash Project located in Northern Morocco. The project has a large JORC Resource Estimate (2012) of 311.4Mt @ 10.2% 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.
1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name: | 1. Graham Clarke 2. Said Hamdioui 3. Hayden Locke 4. Phil Cleggett 5. Mark Connelly 6. Robert Wrixon 7. Ed McDermott
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2. | Reason for the notification | |
a) | Position/status: | 1. CEO 2. Advisor 3. Executive Director 4. Head of Corporate Development 5. Chairman 6. Executive Director 7. 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: | 213800WAVVOPS85N2205
|
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: Identification code: | Ordinary Shares of NPV
ISIN: IM00BDHDTX83
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b) | Nature of the transaction: | Grant of Options |
c) | Price(s) and volume(s): |
Volume Price (£)
1. Graham Clarke i) 500,000 0.001 ii) 1,000,000 0.05 iii) 2,000,000 0.07 iv) 3,333,333 0.10 v) 1,000,000 0.001 vi) 1,000,000 0.05 vii) 2,000,000 0.07 viii) 3,333,333 0.10 ix) 3.333.334 0.10
2. Said Hamdioui i) 750,000 0.06 ii) 1,000,000 0.10 iii) 750,000 0.06 iv) 1,000,000 0.10
3. Hayden Locke i) 2,500,000 0.06 ii) 2,500,000 0.10 iii) 2,500,000 0.06 iv) 2,500,000 0.10
4. Phil Cleggett i) 2,500,000 0.06 ii) 2,000,000 0.10 iii) 2,500,000 0.06 iv) 2,000,000 0.10
5. Mark Connelly i) 1,250,000 0.06 ii) 1,250,000 0.10 iii) 1,250,000 0.06 iv) 1,250,000 0.10
6. Robert Wrixon i) 1,250,000 0.06 ii) 1,250,000 0.10 iii) 1,250,000 0.06 iv) 1,250,000 0.10
7. Ed McDermott i) 1,250,000 0.06 ii) 1,250,000 0.10 iii) 1,250,000 0.06 iv) 1,250,000 0.10 |
d) | Aggregated information: Aggregated volume: Price: |
n/a |
e) | Date of the transaction: | 1 August 2020 |
f) | Place of the transaction: | Outside a trading Venue |