EMMERSON PLC — Major Shareholding Notification 2019

Jul 17, 2019

National Storage Mechanism | Additional information

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RNS Number : 7432F

Emmerson PLC

17 July 2019

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 issuer of existing shares to which voting rights are attached: 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 the notification 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 on which the threshold is crossed or reached: v									16 July 2019
6. Date on which issuer notified:
7. Threshold(s) that is/are crossed or reached: vi, vii									3%
8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction							Resulting situation after the triggering transaction
Number of Shares				Number of Voting Rights			Number of shares			Number of voting rights		% 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 financial instrument				Expiration date xiii		Exercise/ Conversion Period xiv					Number of voting rights that may be acquired if the instrument is exercised/ converted.			% of voting rights
N/A
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument		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 the financial instruments are effectively held, if applicable: xxi
Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting 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: 

Hayden Locke	Emmerson Plc	Tel: +44 (0) 207 236 1177
Edward McDermott
Jeremy King	Optiva Securities Limited Joint Broker	Tel: +44 (0) 3137 1904
Damon Heath Isabella Pierre	Shard Capital Partners LLC	Tel: +44 (0) 7186 9007
Gaby Jenner Melissa Hancock	St Brides Partners Ltd Financial PR/IR	Tel: +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 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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