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.
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Shore Capital +44 (0) 20 7408 4090
Corporate Broking: Jerry Keen
Corporate Advisory: Toby Gibbs / John More / Michael McGloin
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Adele Gilbert: +44 (0)74 8477 8331
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