REG - Neo Energy Metals - Issue of Equity - Advisors and Directors Fees

Neo Energy MetalsAnnouncement

20/09/2024 16:30

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RNS Number : 0943F  Neo Energy Metals PLC  20 September 2024

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

 

20 September 2024

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Issue of Equity - Advisor and Director Fees

 

Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased
to announce that its Non-Executive Directors, James Longley, Charles Tatnall,
Jackline Muchai and Bongani Raziya together with Jason Brewer have each agreed
to receive their director fees for the six months ending 30 November 2024 in
Ordinary Shares in lieu of cash payments.

 

As announced previously on 31 May 2024, at the Company's Board Meeting on 29
April 2024, at the request of its non-executive directors, it was agreed that
they could elect to receive up to 100% of their directors' fees in Ordinary
Shares.

 

Accordingly, an aggregate amount of 16,471,200 Ordinary Shares at an issue
price 1.25 pence are to be issued to the above directors.

 

In addition, a further 2,360,000 Ordinary Shares at an issue price 1.25 pence,
are be issued to two different service providers who have also elected to be
paid in ordinary shares of the company, in lieu of cash payments, as a
commitment of their ongoing support of the Company's activities and growth
strategy.

 

Admission

Application has been made for the 18,831,200 Ordinary Shares to be admitted to
trading to be admitted to trading on the Main Market of the London Stock
Exchange on or around 4 October 2024 ("Admission") and will rank pari passu
with the ordinary shares of the Company in issue.

 

Total voting rights

Following Admission, the Company's issued share capital will comprise
1,449,002,668 ordinary shares of 0.01p each, with each share carrying the
right to one vote, therefore the total number of voting rights in the Company
will be 1,449,002,668. This figure may be used by shareholders as the
denominator for calculations by which they will determine if they are required
to notify their interest in the Company, or a change to their interest in the
Company, under the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.

 

 

The Directors of the Company are responsible for the contents of this
announcement.

 

 

ENDS

 

 

 

 

About NEO Energy Metals Plc

Neo Energy 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 with the aim of bringing
Henkries into production in the shortest possible timeframe.

 

The Company also holds a 100% interest in the Beisa North and Beisa South
Uranium and Gold Projects in the Witwatersrand Basin, located in the Free
State Province of South Africa. The combined projects record a total SAMREC
Code compliant resources of 90.24 million pounds ('Mlbs') of U₃O₈ and 4.17
million ounces ('Mozs') of gold.

 

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 an accelerated development and 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.

 

The Company's shares are also listed on the A2X Markets (A2X: NEO), an
independent South African stock exchange, to enable the Company to expand its
investor base and facilitate strategic acquisitions of uranium projects,
particularly within South Africa.

 

For Enquiries Contact:

 

 Sean Heathcote              Chief Executive Officer  sean@neoenergymetals.com

 Jason Brewer                Executive Chairman       jason@neoenergymetals.com

 Faith Kinyanjui Mumbi       Investor Relations       faith@neoenergymetals.com

 Tel: +44 (0) 20 7236 1177

 Tel: +44 (0) 77 1242 4838

 

 

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