Additional Issuance of Shares and Rights
Additional tranche of award shares issued to Board and Management following litigation funding secured.
- Award Shares issued to CEO 6,000,000
- Award Shares issued to Chairman 3,000,000
- Award Shares issued to Non-executive Director 3,000,000
- Enlarged issued share capital 1,293,866,195 ordinary shares
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Emmerson Plc ("Emmerson" or the "Company"), the Moroccan focused potash development company, announces an additional issue of shares and rights to the Board and Management of the Company, further to the announcement on 12 December 2024.
Following the Initial Issue of Award Shares, notified in the Company's announcement on 12 December 2024, the Company can now confirm that, having successfully secured litigation funding, as announced on 2 January 2025, the second tranche of the Award Shares are now to be issued to each of the members of the Board and Management (the "Further Issue").
The Further Issue of Award Shares are being issued to each of the members of the Board and Management on the following basis:
| Name | Position/status | Number of Existing Ordinary Shares | Number of Award Shares | Number of Ordinary Shares held following Admission | % of issued share capital held following Admission |
|---|---|---|---|---|---|
| Graham Clarke | Executive Director, CEO | 8,207,553 | 6,000,000 | 14,207,553 | 1.10% |
| Hayden Locke | Chairman | 13,082,352 | 3,000,000 | 16,082,352 | 1.24% |
| Robert Wrixon | Non-executive Director | 50,771,872 | 3,000,000 | 53,771,872 | 4.16% |
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for the Award Shares pursuant to the Further Issue to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective and dealing in the Award Shares will commence on or around the 17 January 2025. The Award Shares will rank pari passu with the existing ordinary shares of the Company.
Following Admission, the enlarged issued share capital of the Company will comprise of 1,293,866,195 ordinary shares of no-par value each. No ordinary shares are held in Treasury. The total number of voting rights in the Company is therefore 1,293,866,195.
The above figure of 1,293,866,195 ordinary shares may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Defined terms in this announcement have the same meaning as set out in the announcement dated 12 December 2024, except where otherwise defined in this announcement.
For further information, please visit www.emmersonplc.com , follow us on Twitter (@emmerson_plc), or contact: Emerson Plc Graham Clarke / Hayden Locke +44 (0) 207 138 3204 Panmure Liberum Limited (Nominated Adviser and Joint Broker) Scott Mathieson / Will King +44 (0) 20 3100 2000 Shard Capital Partners LLP (Joint Broker) Damon Heath / Isabella Pierre +44 (0) 207 186 9927
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.