Emmerson PLC Holding(s) in Company (7432F)

TIDMEML

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                                             Emmerson plc 
  issuer 
  of existing shares to which voting rights 
  are 
  attached: (ii) 
                                                                       ------------------------------------------------ 
 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                                               Dame Ann Gloag D.B.E. 
  to the 
  notification obligation: (iii) 
                                                               -------------------------------------------------------- 
 4. Full name of shareholder(s) 
  (if different from 3.):(iv) 
                                                               -------------------------------------------------------- 
 5. Date of the transaction and date                                                 16 July 2019 
  on 
  which the threshold is crossed 
  or 
  reached: (v) 
                                                               -------------------------------------------------------- 
 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   Situation previous                       Resulting situation after the triggering 
 of            to the triggering                        transaction 
 shares        transaction 
 
 if 
 possible 
 using 
 the ISIN 
 CODE 
             ---------------------------------------  ----------------------------------------------------------------- 
              Number                Number             Number           Number of voting        % of voting rights 
               of                    of                 of shares        rights                  (x) 
               Shares                Voting 
                                     Rights 
             --------------------  -----------------  ---------------  ----------------------  ------------------------ 
                                                       Direct           Direct       Indirect   Direct       Indirect 
                                                                        (xi)          (xii) 
               -----      -------  ------  -----      ---------------  -----------  ---------  -----------  ----------- 
 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         Expiration       Exercise/                   Number of voting            % of voting 
  instrument                date (xiii)      Conversion Period           rights that may             rights 
                                             (xiv)                       be 
                                                                         acquired if the 
                                                                         instrument is 
                                                                         exercised/ converted. 
                          ---------------  --------------------------  --------------------------  -------------------- 
 N/A 
                          ---------------  --------------------------  --------------------------  -------------------- 
 
 C: Financial Instruments with similar economic effect to Qualifying Financial 
  Instruments (xv, xvi) 
 Resulting situation after the triggering transaction 
 Type of        Exercise            Expiration     Exercise/            Number of voting            % of voting rights 
 financial       price               date (xvii)    Conversion           rights instrument           (xix, xx) 
 instrument                                         period               refers to 
                                                    (xviii) 
               ------------------  -------------  -------------------  --------------------------  -------------------- 
 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:                    Emmerson Plc                 Tel: [phone] 
   Hayden Locke                                     1177 
   Edward McDermott 
   Jeremy King        Optiva Securities Limited    Tel: [phone] 
                       Joint Broker 
 
   Damon Heath        Shard Capital Partners LLC   Tel: [phone] 
    Isabella Pierre 
   Gaby Jenner        St Brides Partners Ltd       Tel: [phone] 
    Melissa Hancock    Financial PR/IR              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% K(2) O 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 NPV(10) 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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July 17, 2019 02:00 ET (06:00 GMT)