17th Jul 2019 07:00
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
17 July 2019
Holdings in Company
Emmerson Plc ("Emmerson" or the "Company"), the Moroccan focused potash development company, is pleased to announce that it has been notified that Dame Ann Gloag D.B.E. - founder of Stagecoach Group and a successful growth company investor - has increased her holding to approximately 3.02% per cent. of the Company's issued share capital, following the purchase of 5,674,234 Ordinary Shares and is now beneficially interested in 20,691,867 Ordinary Shares.
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES | ||||||||||||||||
1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii | Emmerson plc | |||||||||||||||
2 Reason for the notification (please tick the appropriate box or boxes): | ||||||||||||||||
An acquisition or disposal of voting rights | x | |||||||||||||||
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | ||||||||||||||||
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments | ||||||||||||||||
An event changing the breakdown of voting rights | ||||||||||||||||
Other (please specify): | ||||||||||||||||
3. Full name of person(s) subject to thenotification obligation: iii | Dame Ann Gloag D.B.E. | |||||||||||||||
4. Full name of shareholder(s) (if different from 3.):iv | ||||||||||||||||
5. Date of the transaction and date onwhich the threshold is crossed orreached: v | 16 July 2019 | |||||||||||||||
6. Date on which issuer notified: | ||||||||||||||||
7. Threshold(s) that is/are crossed orreached: vi, vii | 3% | |||||||||||||||
8. Notified details: | ||||||||||||||||
A: Voting rights attached to shares viii, ix | ||||||||||||||||
Class/type ofshares if possible usingthe ISIN CODE | Situation previousto the triggeringtransaction | Resulting situation after the triggering transaction | ||||||||||||||
NumberofShares | NumberofVotingRights | Numberof shares | Number of votingrights | % of voting rights x | ||||||||||||
Direct | Direct xi | Indirect xii | Direct | Indirect | ||||||||||||
Ordinary Shares 0.01p | 15,017,633 | 15,017,633 | 20,691,867 | 20,691,867 | 3.02% | |||||||||||
B: Qualifying Financial Instruments | ||||||||||||||||
Resulting situation after the triggering transaction | ||||||||||||||||
Type of financialinstrument | Expirationdate xiii | Exercise/Conversion Period xiv | Number of votingrights that may beacquired if theinstrument isexercised/ converted. | % of votingrights | ||||||||||||
N/A
| ||||||||||||||||
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi | ||||||||||||||||
Resulting situation after the triggering transaction | ||||||||||||||||
Type of financialinstrument | Exercise price | Expiration date xvii | Exercise/Conversion period xviii | Number of voting rights instrument refers to
| % of voting rights xix, xx
| |||||||||||
N/A
|
| Nominal | Delta | |||||||||||||
Total (A+B+C) | ||||||||||||||||
Number of voting rights | Percentage of voting rights | |||||||||||||||
20,691,867 | 3.02% | |||||||||||||||
9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi | ||
| ||
Proxy Voting: | ||
10. Name of the proxy holder: | ||
11. Number of voting rights proxy holder will ceaseto hold: | ||
12. Date on which proxy holder will cease to holdvoting rights: | ||
13. Additional information: | ||
14. Contact name: | ||
15. Contact telephone number: | ||
**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 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. The Scoping Study released in November 2018 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 US$1.14 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.
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Emmerson