15 February 2017
Emmerson Plc
("Emmerson" or "the Company")
Admission to Trading and First Day of Dealings
Emmerson Plc is pleased to announce the successful placing of 30,433,242 new ordinary shares of no par value in the Company (the "Placing") at a placing price of
3p per new ordinary share and admission of its entire share capital, being 48,183,344 ordinary shares of no par value ("Ordinary Shares"), to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities (the "Admission").
Optiva Securities Limited has been appointed by the Company as financial adviser, broker, and placing agent in connection with the Placing.
Company Strategy
Emmerson Plc was registered and incorporated on the Isle of Man on 1st March 2016 and is targeting acquisitions with a net present valuation of up to £100 million (the "Acquisition").
Following completion of the Acquisition, the objective of the Company will be to operate the acquired business and implement an operating strategy with a view to generating value for its shareholders through operational improvements as well as potentially through additional complementary acquisitions following the Acquisition.
The Company's efforts in identifying a prospective target company or business will not be limited to a particular industry or geographic region. However, given the experience of the Directors, the Company expects to focus on acquiring an exploration or production company or business in the natural resources sector with either all or a substantial portion of its operations in South East Asia, Africa, and the Middle East.
In assessing the potential Acquisition, the Board will pay particular attention to the following overriding factors:
• the existence of production providing cash flow for the business;
• strong exploration potential in known natural resources producing areas;
• the quality of the management;
• an established track record of developing natural resources assets.
The Company has raised gross proceeds of £912,997.26 under the Placing, which will be used to facilitate its acquisition strategy including due diligence, sourcing, reviewing and pursuing acquisitions, as well as on-going costs.
Cameron Pearce, Non-Executive Chairman commented:
"The Board of Emmerson comprise a knowledgeable and experienced group of professionals with the relevant skills and expertise to successfully source, structure and complete acquisitions to deliver upon our strategy to return substantial value to investors. As such we are pleased to be listing upon the Official list of the main market and will look to provide the market with updates in due course."
Admission
It is expected that Admission will become effective and dealings in the Ordinary Shares on the London Stock Exchange's main market for listed securities will commence at 8.00 a.m. today under the ticker symbol 'EML' (ISIN: IM00BDHDTX83).
Prospectus
The Prospectus, which has been approved by the UK Listing Authority, has been published on the Company's website at http://www.emmersonplc.com and will also be available at the FCA's Document Storage Mechanism at http://www.morningstar.co.uk/uk/NSM.
Hard copies of the Prospectus are also available during normal business hours at the offices of the Company's financial adviser, broker and placing agent, Optiva Securities Limited, 2 Mill Street, Mayfair, London W1S 2AT.
**Ends**
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