Emmerson announce fundraising of £0.85 million to finance the ongoing strategic initiatives of the company
Published by Emilie Grant,
Editorial Assistant
World Fertilizer,
Emmerson Plc, the Moroccan focused potash development company, has raised £0.85 million (before expenses) through an oversubscribed placing and subscription of 130 769 229 new ordinary shares of no-par value each in the share capital of the company (placing shares) at a price of 0.65 pence per share (the issue price) and 43 589 743 attaching warrants with an exercise price of 3 pence per share and a term of seven years from the date of issuance (collectively the fundraising).
The fundraising was led by Shard Capital Partners LLP (Shard). The net proceeds of the fundraising will primarily support the company as it looks at its various options with respect to the dispute with the Moroccan Government, referred to in the company's announcement dated 1 November 2024.
Certain of the Directors, including Hayden Locke, Robert Wrixon and Graham Clarke have also participated in the fundraising (the Director Participation), comprising £0.02 million (in aggregate) through the issue of 3.2 million placing shares.
Read the article online at: https://www.worldfertilizer.com/project-news/06122024/fundraising-of-085-million-to-finance-the-ongoing-strategic-initiatives-of-the-company/
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