REG - Neometals Ltd - Neometals Strengthens its Senior Management Team

NeometalsAnnouncement

29/05/2024 07:00

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RNS Number : 2358Q  Neometals Ltd  29 May 2024

29 May 2024

Neometals Ltd

("Neometals" or "the Company")

Neometals Strengthens its Senior Management Team

 

Sustainable process technology developer, Neometals Ltd (ASX: NMT & AIM:
NMT) ("Neometals" or "the Company"), is delighted to advise of two new
appointments to the Company's senior management team, both are highly
experienced and bring new capability and leadership to the Company.

 

Appointment of Chief Operating Officer

 

Dr Jennifer Purdie, an existing non-executive director, has been appointed an
executive director and will assume the responsibility of 'Chief Operating
Officer'. (See Appendix A for further information on key agreement terms). Dr
Purdie will support Neometals 3 days per week for an initial term of 6 months
and focus on Primobius as it ramps up construction, commissioning and
commercial activities.

 

Dr Purdie, an MBA and PHD qualified chemical and materials engineer, has more
than 30 years of global management and leadership experience spanning
operational, business improvement and corporate roles in the mining, energy,
heavy manufacturing, and infrastructure sectors. Dr Purdie has held key senior
leadership positions with Adani Renewables, Rio Tinto, Alcoa and BHP with her
last role seeing her managing BHP's Olympic Dam as Asset President. Dr
Purdie's addition as a member of the Neometals executive team will provide
much valued experience in project execution and delivery.

 

Appointment of General Counsel

 

Mr Cathal Smith (LLB, LLM & MBA (AGSM)) has commenced as Company General
Counsel. Mr Smith has extensive local and international experience advising
corporates on a wide range of projects and operations in both legal and
commercial roles. He is highly proficient in providing strategic advice,
effective problem solving and managing complex transactions to achieve
successful outcomes.

 

Neometals Managing Director, Chris Reed says:

 

"We welcome Jenny and Cathal to our senior management team and look forward to
building our platform to deliver lithium battery recycling plant packages to
the global EV supply chain. Primobius is maturing into an autonomous business
and it will benefit immensely from Jenny's impressive background in
operational excellence and asset optimisation. Cathal brings extensive
experience and capability across technology, construction and corporate law
for top-tier local and international ventures. The appointments will afford me
more time to focus on the execution of our corporate and business development
strategies and stakeholder relations".

 

Authorised on behalf of Neometals by Christopher Reed, Managing Director.

-ENDS-

For more information, please contact:

 

 Neometals Ltd
 Chris Reed, Managing Director & Chief Executive Officer       +61 8 9322 1182
 Jeremy McManus, General Manager - IP & IR                     +61 8 9322 1182

 Cavendish Capital Markets Ltd - NOMAD & Broker
 Neil McDonald                                                +44 (0)131 220 9771
 Peter Lynch                                                  +44 (0)131 220 9772
 Adam Rae                                                     +44 (0)131 220 9778

Appendix A

 

Material terms of Ms Purdie's services agreement:

 

 Annual Salary Package       Pro rata based on $500,000 inclusive of statutory superannuation (Note: Dr
                             Purdie will no longer receive her fee as a Non-Executive Director).  The
                             appointment is for an initial period until 31 December 2024, and may be
                             extended by mutual agreement.
 Short-Term Incentive        For each financial year, the Board, at its sole discretion, may award Ms
                             Purdie a cash bonus of up to 35% of the Annual Salary Package.  The basis for
                             determining the bonus will be a range of criteria determined by the Board
                             including Ms Purdie's personal performance and the Company's performance.
 Long-Term Incentive         Subject to shareholder approval at a general meeting, for each financial year,
                             Dr Purdie will be invited to apply for performance rights under the Company's
                             performance rights plan, as previously approved by the Company's
                             shareholders.  The number of performance rights available for grant will
                             equate to 40% of the Annual Salary package divided by the 60-day-VWAP of the
                             Company's shares, prior to 1 July for the particular financial year.  Vesting
                             of the performance rights is subject to criteria relating to the Company's
                             performance and achievement of certain strategic objectives over a 3-year
                             period.
 Termination Notice Periods  In addition to accelerated "for cause" reasons, the agreement is terminable at
                             either party's discretion upon three (3) months' notice.

 

 

About Neometals

Neometals facilitates sustainable critical material supply chains and reduces
the environmental burden of traditional mining in the global transition to a
circular economy.

The Company is commercialising a portfolio of sustainable processing solutions
that recycle and recover critical materials from high-value waste streams.

Neometals' core focus is on the commercialisation of its patented, Lithium-ion
Battery ("LiB") Recycling technology (50% NMT), under a plant supply and
technology licensing business model.  Primobius GmbH is the 50:50
incorporated JV with 150-year-old German plant builder, SMS group GmbH, that
is commercialising the technology. Primobius is building a 2,500tpa recycling
plant for Mercedes-Benz under a long-term Cooperation Agreement.  It also
operates its own LiB disposal service in Germany and plans to offer its first
commercial 21,000tpa plant to North American licensee, Stelco, in JunQ 2025.

Neometals is also developing two advanced battery materials technologies for
commercialisation under low-risk, low-capex technology licensing business
models:

·      Lithium Chemicals (70% NMT) - Patented ELi™ electrolysis
process, co-owned 30% by Mineral Resources Ltd, to produce battery quality
lithium hydroxide from brine and/or hard-rock feedstocks at lowest quartile
operating costs. Pilot scale test work and Engineering Cost Study update
planned for completion in DecQ 2024; and

·      Vanadium Recovery (100% NMT) - Patent pending hydrometallurgical
process to produce high-purity vanadium pentoxide from steelmaking by-product
("Slag") at lowest-quartile operating cost and carbon footprint.

For further information visit www.neometals.com.au
(http://www.neometals.com.au/)

 

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