REG - Neo Energy Metals - Start of trading on A2X

Neo Energy MetalsAnnouncement

27/02/2024 09:00

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RNS Number : 6117E  Neo Energy Metals PLC  27 February 2024

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

 

27 February 2024

Neo Energy Metals plc

('Neo Energy' or 'the Company')

 

Commencement of Trading on A2X Proprietary Limited

 

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 its ordinary shares
have commenced trading on the A2X Proprietary Limited ('A2X Markets' or
'A2X'), an independent stock exchange in South Africa, under the share code
"NEO" today.

 

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.

·    Neo is the first inward listing company to list on A2X.

·    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.

·    Investors and shareholders in South Africa are advised to consult
with their broker and financial advisor in South Africa if they are seeking to
acquire shares in Neo.

·    Engaged AcaciaCap Advisors Pty Ltd ('AcaciaCap') have provided a
comprehensive range of integrated corporate finance and listing advisory
services during the listing process.

·    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.

 

Neo Energy CEO Sean Heathcote said: "Neo's secondary listing on A2X marks an
exciting milestone in our journey, broadening our investor base and
facilitating opportunities for strategic acquisitions, especially within South
Africa. With significant South African shareholders already on board, our
listing on A2X streamlines investment and trading in our shares, enhancing
accessibility and liquidity.

 

"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."

 

A2X CEO, Kevin Brady said: "We are delighted to welcome Neo Energy Metals to
our market today 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 listed its shares 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. AcaciaCap www.acaciacap.co.za
(http://www.acaciacap.co.za) was engaged as its Corporate Advisor to manage
the listing process.

 

A2X Markets https://www.a2x.co.za/ (https://www.a2x.co.za/) is an independent
South African stock exchange founded in 2014, licensed and regulated by the
Financial Sector Conduct Authority ('FSCA') and the Prudential Authority
('PA') in terms of the Financial Markets Act. It provides an additional
trading venue for a company to secondary list their shares for trade, and is
authorised to secondary list Shares, ETFs and ETNs as well as to inward list
shares with a foreign primary listing.

 

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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