REG - Neo Energy Metals - Issue of Equity and Total Voting Rights

Neo Energy MetalsAnnouncement

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RNS Number : 6267H  Neo Energy Metals PLC  09 June 2026

Neo Energy Metals plc

"Neo Energy" or "the Company"

 

Issue of Equity and Total Voting Rights

 

Neo Energy Metals plc (LSE: NEO; A2X: NEO), the uranium and gold development
company focused on South Africa, announces that, pursuant to the authority
granted by shareholders at the Annual General Meeting held on 18 May 2026, the
Board has resolved to allot and issue 165,042,888 new ordinary shares of
£0.0001 each in the capital of the Company ("New Shares") at a price of
£0.009 per share. The New Shares will be issued to former directors of the
Company pursuant to the terms of the settlement agreement reached between Neo
Energy and the former directors to give effect to the board transition
announced on 22 April 2026.

Application has been made to the London Stock Exchange PLC for the admission
of the New Shares to trading on the Main Market of the London Stock Exchange
("Admission"), which is expected to take place at 08h00 on or around 12 June
2026. The New Shares will rank pari passu in all respects with the existing
ordinary shares of the Company.

Following Admission, the Company will have 2,792,628,023 Ordinary Shares in
issue. No Ordinary Shares are held in treasury and, accordingly, the total
number of voting rights is 2,792,628,023. Therefore, this figure may be used
by shareholders in the Company as the denominator for the calculation by which
they may determine if they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.

ENDS

About Neo Energy Metals plc

Neo Energy Metals plc is a uranium and gold company listed on the London Stock
Exchange Main Market (LSE: NEO) and the A2X Markets (A2X: NEO), with a JSE
Main Board listing targeted for 2026. The Company has secured two uranium
projects in South Africa with a combined JORC- and SAMREC-compliant resource
of 31.5 million pounds ("Mlb") of uranium and 1.2 million ounces ("Moz") of
gold.

New Beisa Node - Free State Goldfields

The New Beisa Uranium/Gold Project, to be known as the New Beisa Node, is a
brownfields uranium and gold development located on the Beatrix 4 shaft
property near Virginia in the Free State Goldfields, one of the highest-grade
uranium-bearing regions in the world.

The project is being acquired from Sibanye-Stillwater, which operated the
Beatrix 4 shaft complex until 2022 and will have a significant shareholding in
Neo Energy.

The asset carries more than US$500 million in historical capital investment
and benefits from existing surface infrastructure including a headgear and
winding systems, a gold processing plant with 120,000 tonne-per-month milling
capacity, primary ventilation, a tailings storage facility and all major
utilities. Underground development is in place, with the Beisa Reef accessible
from the existing shaft at depths of 300 to 1,000 metres.

Measured and Indicated resources stand at 26.8Mlb of uranium at 1,100ppm and
1.2Moz of gold at 3.27 g/t (SAMREC Code, 2016).

Initial annual production is targeted at approximately 810,000lbs uranium and
52,000 ounces of gold, at an all-in sustaining cost below US$30 per pound
uranium equivalent after gold credits, with an estimated mine life of 17 years
on current Measured and Indicated resources.

The Beatrix Mining Right is being transferred to Neo Energy under Section 11
of the Mineral Resources and Petroleum Development Act; ministerial consent is
required on or before 6 December 2026 with first production targeted for
December 2027.

Henkries Node - Northern Cape

The Henkries Uranium Project, to be known as The Henkries Node, is a
near-surface, palaeochannel-hosted uranium deposit in the Northern Cape
Province. Mineralisation occurs in unconsolidated sands from surface to a
maximum depth of eight metres, requiring no drilling or blasting.

JORC compliant resources total 4.7Mlb of uranium at an average grade of
399ppm, with 25 kilometres of identified palaeochannel remaining undrilled on
the licence area.

The process route - conventional acid leach to yellowcake - has been proven
through an Anglo American pilot plant that processed more than 200 test pits
at a cost of over US$30 million.

A 2024 Feasibility Study for the Henkries project indicates annual production
of approximately 580,000lbs of uranium at a cash cost of approximately
US$33/lb, with an NPV (8%) of US$60 million and an IRR in excess of 25% at
US$85/lb. Total initial capital requirement is approximately US$65 million.

Enquiries

 Neo Energy Metals plc

 Theo Botoulas, Chief Executive Officer                via james.duncan@neoenergymetals.com

 James Duncan, Investor Relations and Communications   +27 (0) 79 336 4010
 Financial PR / Investor Relations                     +44 (0) 20 7920 3150

 Tavistock                                             neoenergymetals@tavistock.co.uk

 Jos Simson / Gareth Tredway
 Corporate Advisor                                     +27 (0) 11 480 8500

 AcaciaCap Advisors                                    michelle@acaciacap.co.za

 Michelle Krastanov

 

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