Emmerson PLC / Ticker: EML / Index: AIM / Sector: Mining
31 May 2024
Emmerson PLC ("Emmerson" or the "Company")
Grant of Share Options and PDMR dealing
Emmerson, the Moroccan focused potash development company, announces the award of share options and PDMR dealing.
Employee share options
Emmerson announces the award of 20,000,000 options to subscribe for new ordinary shares in the Company (the "New Options") to certain directors and employees of the Company with effect from 30 May 2024 (the "Grant Date").
The awards are split into two tranches, with the first vesting after one year at an exercise price of
In addition, 425,000 and 1,099,999 share options awarded in 2022 to Graham Clarke and Jim Wynn respectively under the Company's Enterprise Management Incentive ("EMI") have been cancelled and re-issued as non-EMI qualifying options on otherwise identical terms on 29 May 2024. The purpose of this cancellation and re-award is to ensure all the new awards would qualify as EMI options, as individual limits apply to the number of EMI options that can be awarded.
Director / PDMR |
Options awarded/ (surrendered) |
Qualifying |
Exercise price and vesting dates |
Total share options held after award |
Graham Clarke |
(425,000) |
EMI |
|
27,321,000 |
|
425,000 |
Non-EMI |
|
|
(Director) |
4,000,000 |
EMI |
|
|
|
4,000,000 |
EMI |
|
|
Jim Wynn |
(1,099,999) |
EMI |
|
14,000,000 |
|
1,099,999 |
Non-EMI |
|
|
(PDMR) |
2,500,000 |
EMI |
|
|
|
2,500,000 |
EMI |
|
|
Other employees |
3,500,000 |
|
|
44,942,000 |
|
3,500,000 |
|
|
|
Total |
20,000,000 |
|
|
86,263,000 |
The total share options in issue are now 86,263,000 representing approximately 7.6% of the Company's issued share capital.
PDMR Dealing
Emmerson announces that Robert Wrixon, a Director of the Company, has transferred 44,233,411 shares previously held in the name of Good Spirit International Ltd (a company controlled by Robert Wrixon) to his spouse, Mrs Kimberly Wrixon for nil consideration, as part of a personal financial reorganisation.
As Mrs Wrixon is a Person Closely Associated with Robert Wrixon, there is no change to his overall shareholding at 46,233,411 shares (4.06% of the Company's issued share capital) as a result of the transaction
**ENDS**
For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:
Emmerson PLC Graham Clarke / Jim Wynn / Charles Vaughan
|
+44 (0) 207 138 3204
|
Liberum Capital Limited (Nominated Advisor and Joint Broker) Scott Mathieson / Matthew Hogg
|
+44 (0)20 3100 2000 |
Shard Capital LLP (Joint Broker) Damon Heath / Isabella Pierre
|
+44 (0)20 7186 9927
|
BlytheRay (Financial PR and IR) Tim Blythe / Megan Ray / Said Izagaren
|
+44 (0) 207 138 3204
|
Notes to Editors
Emmerson is focused on advancing the Khemisset project ("Khemisset" or the "Project") in
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|
a) |
Name: |
Graham Clarke |
2. |
Reason for the notification |
|
a) |
Position/status: |
CEO |
b) |
Initial notification/Amendment: |
Initial notification |
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
a) |
Name: |
Emmerson PLC |
b) |
LEI: |
213800JA8ZK1K6CWYP61
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|
a) |
Description of the financial instrument, type of instrument: Identification code: |
Ordinary Shares of NPV
ISIN: IM00BDHDTX83 |
b) |
Nature of the transaction: |
Surrender and Grant of Options over Ordinary Shares |
c) |
Price(s) and volume(s): |
Surrendered: 425,000 options at Regranted: 425,000 options at Granted: 4,000,000 options at Granted: 4,000,000 options at
|
d) |
Aggregated information: Aggregated volume: Price: |
n/a |
e) |
Date of the transaction: |
Surrendered/regranted options - 29 May 2024 Granted options - 30 May 2024 |
f) |
Place of the transaction: |
Outside a trading Venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|
a) |
Name: |
Jim Wynn |
2. |
Reason for the notification |
|
a) |
Position/status: |
CFO |
b) |
Initial notification/Amendment: |
Initial notification |
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
a) |
Name: |
Emmerson PLC |
b) |
LEI: |
213800JA8ZK1K6CWYP61
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|
a) |
Description of the financial instrument, type of instrument: Identification code: |
Ordinary Shares of NPV
ISIN: IM00BDHDTX83 |
b) |
Nature of the transaction: |
Surrender and Grant of Options |
c) |
Price(s) and volume(s): |
Surrendered: 1,099,999 options at Regranted: 1,099,999 options at Granted: 2,500,000 options at Granted: 2,500,000 options at
|
d) |
Aggregated information: Aggregated volume: Price: |
n/a |
e) |
Date of the transaction: |
Surrendered/regranted options - 29 May 2024 Granted options - 30 May 2024 |
f) |
Place of the transaction: |
Outside a trading Venue |
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|
a) |
Name: |
Robert Wrixon |
2. |
Reason for the notification |
|
a) |
Position/status: |
Director |
b) |
Initial notification/Amendment: |
Initial notification |
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
a) |
Name: |
Emmerson PLC |
b) |
LEI: |
213800JA8ZK1K6CWYP61
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|
a) |
Description of the financial instrument, type of instrument: Identification code: |
Ordinary Shares of NPV
ISIN: IM00BDHDTX83 |
b) |
Nature of the transaction: |
Transfer |
c) |
Price(s) and volume(s): |
44,233,411 ordinary shares transferred from Good Spirit International Ltd (a company controlled by Robert Wrixon) to his spouse Kimberley Wrixon for nil consideration |
d) |
Aggregated information: Aggregated volume: Price: |
n/a |
e) |
Date of the transaction: |
30 May 2024 |
f) |
Place of the transaction: |
Outside a trading Venue |
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