Shore Capital acts as Lead Bookrunner on oversubscribed £5.5m placing for Emmerson Plc

Emmerson plc (LSE: EML), the Moroccan focused potash development company, has successfully raised £5.5m through an oversubscribed placing, with Shore Capital acting as Lead Bookrunner.

The net proceeds will principally be used for the continuation of Project development workstreams comprising the detailed design for the mine, including the decline & 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 Official List (standard segment) and to trading on the LSE’s main market for listed securities and its intention to apply for admission of its Ordinary Shares to trading on the AIM market.

For further information please contact:   

Shore Capital +44 (0) 20 7408 4090

Corporate Broking: Jerry Keen

Corporate Advisory: Toby Gibbs / John More / Michael McGloin

For Shore Capital media enquiries, please contact:   

Adele Gilbert: +44 (0)74 8477 8331

Note to editor

About Shore Capital

We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income. We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM. Shore Capital is also the third largest market maker by number of AIM stocks covered.

Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK, Europe and US.

Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.