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Emmerson PLC To Raise £5.25-5.75 Million Via Proposed Placing

Emmerson PLC To Raise £5.25-5.75 Million Via Proposed Placing

Emmerson PLC To Raise £5.25-5.75 Million Via Proposed Placing

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Emmerson PLC, a Moroccan potash development company, announced that it will undertake an equity placement of £5.25 to £5.75 million. The Placing will be conducted through an accelerated bookbuild process, which will be launched immediately following this announcement with a price range of 5.5 to 6.0 pence and the placing price will be determined post the completion of the accelerated bookbuild process. Shore Capital Stockbrokers Limited and Shard Capital Partners LLP are acting as Joint Bookrunners in connection with the Placing.

The net proceeds will principally be used for the continuation of the Project development workstreams comprising the detailed design for the mine, including the design & infrastructure, for project technical work and testing including geotechnical drilling and drilling to confirm brine deep well injection as well as land optioning, the SOP Feasibility Study and work on the phased development and expansion of the Project.

In addition, the Company also announced proposals to cancel the admission of the Company’s Ordinary Shares to listing on the FCA’s Official List (standard segment) and to trade on the London Stock Exchange’s main market for listed securities and its intention to apply for admission of its Ordinary Shares to trading on the AIM market of the London Stock Exchange.

The Board believes that AIM is a market and environment, which is more suited to the Company’s current size and strategy and AIM will offer greater flexibility with regard to corporate transactions and should therefore enable the Company to agree and execute certain transactions more quickly and cost effectively than a company on the Official List.

The proposed Delisting and AIM Admission will take effect simultaneously, utilising the AIM Designated Market Route. Further details on the proposed move to AIM will be published following completion of the Placing.

Clear Capital Markets assisted the company’s corporate broker in this fundraise. If you are interested in raising funds or taking part in future company fundraisings, please contact us.

Small Cap Investing is high risk. The value of investments can fall as well as rise. Capital is invested at risk.

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