Emmerson PLC (AIM:EML) chairman Hayden Locke spoke with Proactive's Stephen Gunnion about the company’s next steps after raising £850,000 in an oversubscribed placement. Locke explained that most of the funds were secured from specialist international litigation investors who are supporting Emmerson's case for arbitration.
Locke described the challenges stemming from the Moroccan government’s handling of permits for the Khemisset Potash project. Despite appeals and enhanced submissions, the process has been marked by repeated delays and inconsistencies. “Nobody wants to make a decision. They're all sending us from one decision-making body to another,” Locke stated. He emphasised the need for fairness under bilateral investment treaties and highlighted Emmerson’s readiness to pursue arbitration.
The funds raised will be used to secure litigation funding and move forward with arbitration, which appears increasingly likely. Locke reiterated that Emmerson remains open to negotiations but expects official communication through their legal representatives.