REG - Neo Energy Metals - Issue of Equity - AUO Issue and Advisor Shares

Neo Energy MetalsAnnouncement

16/05/2025 07:00

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RNS Number : 9906I  Neo Energy Metals PLC  16 May 2025

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

 

16 May 2025

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Issue of Equity - Advisor and Director Fees and AUO Subscription Shares

Neo Energy, 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 31 May 2025 in Ordinary
Shares in lieu of cash payments.

Accordingly, an aggregate amount of 22,400,000 Ordinary Shares at an issue
price 0.75 pence are to be issued to the above directors.

A further 13,600,000 Ordinary Shares at an issue price 0.75 pence, are be
issued to four 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.

In addition, 143,977,808 Ordinary Shares at an issue price 0.75 pence, are to
be issued under the AUO Commercial Brokerage LLC Subscription Agreement, as
approved by shareholders and as set out in the Prospectus.  Funds received
have been applied to working capital costs of the Company's activities in
South Africa and the United Kingdom and in respect of the acquisitions of the
Beisa Uranium Project and Henkries South Uranium Project in South Africa.

Admission

Application has been made for the 179,977,808 Ordinary Shares to be admitted
to trading to be admitted to trading on the Main Market of the London Stock
Exchange on or around 22 May 2025 ("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
2,173,113,810 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 2,173,113,810. 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.

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation, and the Directors of the Company are responsible for
the release of this announcement.

END

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 and its South African Subsidiaries', namely Neo Uranium Resources
Beisa Mine (Pty) Limited and Neo Uranium Resources South Africa (Pty)
Ltd have continued to strengthen the uranium portfolio through conditional
agreements for the acquisitions of; 100% interest in the Beisa North
and Beisa South Uranium and Gold Projects and 100% interest in the Beatrix
4 mine and shaft complex, the processing plant complex and associated
infrastructure in the Witwatersrand Basin, located in the Free State Province
of South Africa. The combined projects total SAMREC Code compliant resource
base comprises, 117 million pounds of U₃O₈ and over 5 million
ounces of gold.

Additionally, 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 and a 100% interest in the Henkries South Uranium Project,
extending the Henkries Project's strike length by 10km to a total of 46km of
shallow paleo-channels proven to host uranium mineralisation through extensive
drilling and feasibility studies backed by US$30 million in historic
exploration and development expenditure.

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 expand its investor base and
facilitate strategic acquisitions of uranium projects, particularly within
South Africa.

 

For Enquiries Contact:

Neo Energy Metals

 Jason Brewer     Executive Chairman    jason@neoenergymetals.com
 Faith Kinyanjui  Investor Relations    faith@neoenergymetals.com

AcaciaCap Advisors

 Michelle Krastanov    Tel: +27 11 480 8500

Bacchus Capital Advisers

 Richard Allan        Tel: +44 203 848 1642
 Shea O'Callaghan    Tel: +44 203 848 1645

Shore Capital

 Toby Gibbs            Tel: +44 207 408 4090
 Harry Davies-Ball

 

 

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