Business
Arbitration Memorial Submission
Emmerson PLC has submitted its Memorial in its arbitration against the Kingdom of Morocco, outlining its case and claiming damages of US$1.215 billion net of local taxes and including interest. The company engaged expert quantum consultants to determine this valuation, based on its own studies and their expertise. This submission marks a significant step, with Morocco expected to respond in the coming months. Disclaimer*
About this update from Emmerson Plc
[{"type":"text","content":"\n\nEmmerson PLC / Ticker: EML / Index: AIM / Sector: Mining\n30 March 2026\nEmmerson PLC (\"Emmerson\" or the \"Company\")\nArbitration Memorial Submission\n \nEmmerson PLC, the Moroccan focused potash development company, is pleased to provide an update on progress relating to its arbitration process against the Kingdom of Morocco.\nFurther to the update provided in January 2026, Emmerson advises that its legal representatives, Boies Schiller Flexner LLP, have submitted its Memorial in accordance with the timetable set out by the arbitration panel.\nThe Memorial outlines the Company's case in full, including legal arguments and supporting evidence. This included a claim for damages amounting to US$1.215bn net of local taxes and including interest.\nThe Company was at an advanced stage of development at the time of Morocco's breaches of its obligations under the United Kingdom-Morocco Bilateral Investment Treaty and has employed expert quantum consultants to determine the claim value. This rigorous valuation process was based on studies published by the Company, including discounted cash flow analyses, in conjunction with the consultants' own experience and expertise in assessing such matters.\nWith the Memorial successfully submitted on time, the arbitration now moves to the next phase where Morocco will have an opportunity to respond in several months' time.\nThe Company will provide further updates as necessary and as far as practicable.\nGraham Clarke, CEO of Emmerson PLC commented:\n\"The submission of the Memorial is a significant step in the arbitration process and I would like to thank the team for all the work that has been put into the submission\"\nBackground\nOn 30 April 2025, the Company's direct and indirect subsidiaries Khemisset UK Ltd. and Potasse de Khemisset S.A. (the \"Claimants\") filed a Request for Arbitration (\"RFA\") with the International Centre for Settlement of Investment Disputes (\"ICSID\"). The ICSID Secretary-General registered the RFA on 23 May 2025.\nThe Claimants seek compensation for the loss and damage they sustained as a result of Morocco's breaches of its obligations under the Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Kingdom of Morocco for the Promotion and Protection of Investments (th...