REG - Neo Energy Metals - Secondary Listing on A2X Proprietary Limited

Neo Energy MetalsAnnouncement

20/02/2024 07:00

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RNS Number : 7470D  Neo Energy Metals PLC  20 February 2024

Neo Energy Metals plc / EPIC: NEO / Market: Main Market of the London Stock
Exchange

 

20 February 2024

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Secondary Listing of Ordinary Shares on A2X Proprietary Limited

 

Demonstrates commitment to local stakeholders and support for South Africa's
capital markets

 

Neo Energy Metals plc, the near term, low-cost uranium developer advancing the
Henkries Uranium Project ('Henkries' or the 'Project') in the Northern Cape of
the Republic of South Africa, is pleased to announce that it is pursuing a
secondary listing on A2X Proprietary Limited ('A2X Markets' or 'A2X'), an
independent stock exchange in South Africa.

Neo will list its shares for trade on A2X Markets from 27 February 2024. Neo
will retain its primary listing on the London Stock Exchange ('LSE') and its
issued share capital will be unaffected by its secondary listing on A2X.

OVERVIEW

·    A2X is a licensed and regulated stock exchange in South Africa that
provides a secondary platform for companies to list their shares for trade.

·    The secondary listing on the A2X will enlarge Neo's shareholder base
and provide South African investors with an opportunity to invest in a uranium
focused operator within the region.

·    Shares will list for trade on A2X on 27 February 2024 under the share
code "NEO".

·    There is no cost or additional regulation to the secondary listing.

·    Neo engaged AcaciaCap Advisors Pty Ltd ('AcaciaCap') as its Corporate
Advisor to manage and fast-track the A2X listing process.

 

Neo Energy CEO Sean Heathcote said: "The A2X has a strong track record as a
leading destination for secondary listings, making it a natural secondary
listing destination for a company like ours with an exciting uranium project
in the Northern Cape. As well as increasing the liquidity and tradability of
our shares, we anticipate that a secondary listing on the A2X will drive
increased awareness of our activities as we build out our uranium portfolio.
 Furthermore, it demonstrates our commitment to our local stakeholders and
support for developing South Africa's capital markets.

 

"Neo's partnership with its cornerstone investor, Q Global Commodities, headed
up by Quinton van der Burgh, has played a significant role in facilitating
this decision. With a clear and defined growth path, supported by strong
market dynamics, I am confident that Neo's compelling investment proposition
will attract significant interest from institutional investors in South
Africa. I look forward updating shareholders as we fast-track the process in
tandem with our newly appointed Corporate Advisor, AcaciaCap."

 

A2X CEO, Kevin Brady said: "We are delighted to welcome Neo Energy Metals to
our market next week and are pleased that A2X was chosen as the exchange to
enable South African investors access to this opportunity. This marks an
important milestone as the first offshore inward listing on A2X. We expect
further inward listings which enable A2X to expand investment opportunities
available to the South African marketplace."

 

DETAILS

Based on the significant interest from South African investors as well as
discussions with its cornerstone investor, Q Global Commodities ('QGC'), the
Company has decided to pursue a secondary listing on the A2X to enlarge its
shareholder base and provide South African investors with an opportunity to
invest in a uranium focused operator within the region.

 

Furthermore, the Company has engaged AcaciaCap as its Corporate Advisor to
manage and fast-track the A2X listing process.

 

About AcaciaCap

AcaciaCap operates as a corporate finance boutique and listing advisory
business.  AcaciaCap primarily serves customers in South Africa.

Find out more about Acacia Capital here: www.acaciacap.co.za
(http://www.acaciacap.co.za)

 

About A2X

A2X Markets, an independent South African stock exchange founded in 2014, is
licensed and regulated by the Financial Sector Conduct Authority (FSCA) and
the Prudential Authority (PA) in terms of the Financial Markets Act. The A2X
provides an additional trading venue for a company to secondary list their
shares for trade, it is authorised to secondary list Shares, ETFs and ETNs as
well as to inward list shares with a foreign primary listing.

Find out more about A2X Markets here: https://www.a2x.co.za/
(https://www.a2x.co.za/)

 

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.

 

ENDS

 

 Sean Heathcote    CEO                      sean@neoenergymetals.com

                   Neo Energy Metals plc

 Paul Dulieu       Financial PR             neo@stbridespartners.co.uk

 Isabel de Salis   St Brides Partners Ltd

 Isabelle Morris

 

 

Notes

Neo Energy Metals plc aims to become an important supplier to the fast-growing
uranium sector.  Its initial focus is on its 70% owned Henkries Uranium
Project, an advanced, low-cost uranium project in the Northern Cape Province
of South Africa with a clear pathway to production. +US$30m of historical
exploration, drilling, test pitting and mining, metallurgical test-work and
pilot plant work has been undertaken at the Project, culminating in a
published feasibility study.

 

Headquartered in Nairobi, Kenya, Neo Energy is now focused on increasing the
mineral resources at Henkries from the current estimated 4.7 million pounds of
uranium, (which is highly probable as less than 10% of prospective ground is
fully tested), and completing an updated feasibility study ahead of reaching a
development decision by November 2025.

 

Led by a proven board and management team with uranium and other mineral
project development experience in Southern Africa, Neo Energy's strategy is
layered on a two-year development approach to generate cashflow from Henkries
with a view towards building a longer term exploration and portfolio growth
strategy to develop the highly prospective Northern Cape Region of South
Africa and, potentially, broader regional expansion into energy metal property
holdings globally.

 

The team includes:

·    Jason Brewer, Non-Executive Chairman: c.30 years' experience in
international mining, financial markets, and investment banking with a
particular focus in Africa.

·    Sean Heathcote, CEO: +30 years' experience in the mining and
exploration industry in Africa across a broad range of commodities.

·    Jackline Muchai, Non-Executive Director: one of the few Kenyan women
serving on a board within London's Main Market on the London Stock Exchange,
and CEO of Gathoni Muchai Investments.

·    Bongani Raziya, Non-Executive Director: +20 years' experience in oil
and gas and mining in Africa with various directorships held in
well-established profitable companies.

·    James Longley, Non-Executive Director: +30 years' experience in
finance, whose career has been focused on venture capital, private equity and
building growth companies.

·    Charles Tatnall, Non-Executive Director: a seasoned advisor and
fundraiser, specialising in small and medium-sized enterprises across diverse
industries.

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