Emmerson PLC has announced the grant of 20,000,000 share options to certain directors and employees, with the first tranche vesting after one year at an exercise price of 3.0 pence and the second after two years at an exercise price of 4.5 pence. Additionally, 425,000 and 1,099,999 share options awarded in 2022 have been cancelled and re-issued as non-EMI qualifying options. The total share options in issue are now 86,263,000, representing approximately 7.6% of the Company's issued share capital.

In a separate announcement, Robert Wrixon, a Director of the Company, has transferred 44,233,411 shares 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.

Emmerson is focused on advancing the Khemisset project in Morocco into a low-cost, high-margin supplier of potash, and the first primary producer on the African continent. The Project has a large JORC Resource Estimate of 537Mt @ 9.24% K2O, with significant exploration potential, and is expected to deliver long-term investment and financial contributions to Morocco. The Feasibility Study indicated the Project has the potential to be among the lowest capital cost development stage potash projects in the world, with an internal rate of return of approximately 40%.

The Company is committed to bringing in significant international investment over the life of the mine and is well placed to benefit from the opportunities presented by the need to feed the world's rapidly increasing population.