REG - Neo Energy Metals - Directors Share Purchases

Neo Energy MetalsAnnouncement

31/05/2024 17:30

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RNS Number : 7298Q  Neo Energy Metals PLC  31 May 2024

Neo Energy Metals plc / LSE: NEO, A2X: NEO / Market: Main Market of the London
Stock Exchange

 

31 May 2024

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Directors' Share Purchases

 

Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased
to announce a new share option scheme to further incentivise the executive and
non-executive directors of the company.

 

Unapproved share options scheme

 

On 29(th) April 2024 the directors agreed to introduce an unapproved share
option ('options') scheme which was approved by the renumeration committee and
board of the directors of the Company. The scheme is "unapproved" for tax
purposes whereby the directors are ultimately responsible for their own tax on
any gains made from exercising any of the options which are the subject of the
scheme. The scheme is commensurate with other share option schemes issued by
similar companies as part of the overall renumeration packages of the
directors.

 

The scheme has authorised the issue of 150,000,000 share options over
150,000,000 ordinary shares of £0.0001 to the directors which represent 9.59%
of the existing enlarged share capital of the company. The Share Options are
to have an exercise price of 1.25p and have an expiry date of 31 May 2027

 

The non-executive directors are to receive up to 20,000,000 options each, with
the executive directors receiving the balance equally, less 10,000,000 options
set aside for key employees.

 

Neo Energy CEO Sean Heathcote said, "We are delighted to announce the issuance
of share options to the executive and non-executive directors of the Company
to further incentivise the directors as part of their overall remuneration
package."

 

About NEO Energy Metals Plc

Neo Energy Metals plc is a Uranium developer and mining company listed on the
main market of the London Stock Exchange (LSE: NEO). The company holds up to a
70% stake in the Henkries Uranium Project, an advanced, low-cost mine located
in South Africa's Northern Cape Province. It has been estimated by some that
the historical investment in the project was over US$30 million in exploration
and feasibility studies, Neo Energy aims to increase the project's mineral
resources and complete an updated feasibility study ahead of a determination
of the development schedule at the end of 2024 to bring Henkries into
production.

 

The company is led by a proven board and management team with experience in
uranium and mineral project development in Southern Africa. Neo Energy's
strategy focuses on a two-year production approach to generate cash flow from
Henkries while planning for long-term exploration and portfolio growth in the
highly prospective Uranium district of Africa. Additionally, the company's
shares are listed on the A2X Markets (A2X: NEO), an independent South African
stock exchange, to expand its investor base and facilitate strategic
acquisitions of uranium projects, particularly within South Africa.

 

ENDS

 

For Enquiries Contact:

 Sean Heathcote  CEO                     sean@neoenergymetals.com

                 Neo Energy Metals plc

 

 

 

 

 

 

 

 

 

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