NEO Neo Energy Metals Plc

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.

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