REG - Neo Energy Metals - Annual Report, Accounts and Audit Progress Update

Neo Energy MetalsAnnouncement

03/09/2025 16:15

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RNS Number : 9007X  Neo Energy Metals PLC  03 September 2025

 

 

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

 

3 September 2025

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Update on Annual Report and Accounts, Audit Progress and Trading Resumption

Neo Energy, the near-term, low-cost uranium developer, provides a
comprehensive update on the status of its annual report and accounts for the
year ended 30 September 2024 (the "Accounts"), regulatory timelines, and
strategic initiatives.

Update on Annual Report and Accounts

Further to the Company's announcement of 11 July 2025, the Company confirms
the audit process, initially expected to be concluded at the end of August
2025, is now in its final stages. The Company anticipates publication of the
Accounts within the next four to six weeks. The delay reflects the complexity
of the reverse takeover transaction of Stranger Holdings plc that was
completed during the period, and the accounting treatment of the various
transactions and restructurings that accompanied that, and does not, indicate
any concerns about the underlying asset quality or going concern status of the
Company.

Trading in the Company's shares on the London Stock Exchange was suspended on
3 February 2025, with an engagement deadline of 3 August 2025 under FCA rules.
The Company confirms that it has been in active dialogue with all the
appropriate regulatory bodies to ensure all are fully informed of the audit
process.

Upon publication of the Accounts, the Company will seek immediate resumption
of trading in its ordinary shares. Discussions regarding the specific steps
and timing for lifting the suspension are ongoing, and shareholders will be
updated promptly.

Johannesburg Stock Exchange Listing

The Company previously announced its intention to pursue a fast-track
secondary listing on the Johannesburg Stock Exchange ("JSE"). The Board
remains committed to this objective, recognising the benefits of aligning its
capital markets presence with its operational base in South Africa.

The JSE listing process is anticipated to be completed in Q1 2026. Preparatory
work with its advisors continues in parallel, ensuring readiness once the
Accounts are finalised and lodged and trading in the Company's securities
resumes.

Governance and Leadership

Since the appointment of Theo Botoulas as Chief Executive Officer (effective
16 May 2025), the leadership team has been strengthened with deep African
mining expertise and operational experience. The Board is confident that the
management team has the capability to deliver both operational progress and
regulatory compliance during this transitional period.

 

 

The Company remains fully committed to the highest standards of corporate
governance, transparency and regular communication with shareholders.

Operational Progress

Despite its administrative delays, the Company continues to advance its
uranium and gold projects acquisition strategy in South Africa, including:

• Henkries uranium project: Development activities are progressing in line
with the accelerated pathway to near-term production.

• Beisa and Beatrix assets: Integration and regulatory workstreams are
ongoing, reinforcing the Company's long-term growth pipeline.

• B-BBEE and regulatory approvals: Compliance milestones have been met,
supporting local stakeholder engagement and strengthening the Company's
license to operate.

Communication Commitments

The Company recognises shareholder concerns over the frequency and depth of
communication during the suspension period. Going forward, the Company commits
to:

• Providing bi-weekly updates on audit and regulatory progress until
resumption of trading.

• Issuing a shareholder Q&A addressing the most common questions
received.

• Maintaining timely disclosure of all material developments through
regulatory announcements.

Outlook

The Board remains confident in the Company's strategy, assets, and market
positioning. With a high-grade uranium and gold resource base, strategic
partnerships, and a strengthened leadership team, the Company is well placed
to deliver on its growth trajectory once the current administrative matters
are resolved.

ENDS

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:

 KENYA                                                           SOUTH AFRICA
 Jason Brewer - Executive Chairman                               Theo Botoulas - Chief Executive Officer

 jason@neoenergymetals.com (mailto:jason@neoenergymetals.com)    theo@neoenergymetals.com (mailto:theo@neoenergymetals.com)

 Faith Kinyanjui - Investor Relations faith@neoenergymetals.com  Michelle Krastanov - Corporate Advisor - AcaciaCap Advisors
 (mailto:faith@neoenergymetals.com)

                                                               michelle@acaciacap.co.za (mailto:michelle@acaciacap.co.za)

                                                                 Tel: +27 (0) 11 480 8500
                                                                 James Duncan - Media Relations

                                                                 james@jmdwrite.com (mailto:james@jmdwrite.com)

                                                                 Tel: +27 (0) 79 336 4010

 

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