REG - Neometals Ltd - Annual General Meeting - Withdrawal of Resolution

NeometalsAnnouncement

20/11/2023 09:30

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RNS Number : 9827T  Neometals Ltd  20 November 2023

 

20 November 2023

 

Neometals Ltd

("Neometals" or "the Company")

 

Neometals Annual General Meeting - Withdrawal of Resolution

 

Innovative battery materials recycler, Neometals Ltd (ASX: NMT & AIM: NMT)
("Neometals" or "the Company"), advises that the Board has determined that it
is appropriate to withdraw the following resolution referred to in the
Neometals Notice of Annual General Meeting ("AGM") 1  for the consideration at
the Company's AGM to be held on Friday 24(th) November 2023:

·    Resolution 4 - Approval of increase to maximum aggregate remuneration
of non-executive directors.

The decision was taken by the Board after due regard to sentiment evident in
preliminary proxy voting returns.

Resolution 4 was designed to better enable the Company's future board
succession planning arrangements and its withdrawal is not anticipated to have
any material impact.

The validity of proxy forms provided in connection with the AGM and all
proxies already submitted by shareholders in respect of the other proposed
resolutions at the AGM remain unaffected by the withdrawal.

All other items of business included in the Notice of Meeting provided to
shareholders remain unaffected and will be put to shareholders at the AGM.

 

Authorised on behalf of Neometals by the Board of Directors of the Company.

 

For more information, please contact:

 

 Neometals Ltd
 Chris Reed, Managing Director & Chief Executive Officer       +61 8 9322 1182
 Jeremy McManus, General Manager - IP & IR                     +61 8 9322 1182

 Cavendish Securities plc - NOMAD & Joint Broker
 Neil McDonald                                                +44 (0)131 220 9771
 Peter Lynch                                                  +44 (0)131 220 9772
 Adam Rae                                                     +44 (0)131 220 9778

 RBC Capital Markets - Joint Broker                           +44 (0) 20 7653 4000
 Paul Betts
 Jamil Miah

 Camarco PR                                                   + 44(0) 20 3 757 4980
 Gordon Poole
 Emily Hall
 Lily Pettifar

 

About Neometals

Neometals has developed and is commercialising three environmentally-friendly
processing technologies that produce critical and strategic battery materials
at lowest quartile costs with minimal carbon footprint.

Through strong industry partnerships, Neometals is demonstrating the economic
and environmental benefits of sustainably producing lithium, nickel, cobalt
and vanadium from lithium-ion battery recycling and steel waste recovery. This
reduces the reliance on traditional mine-based supply chains and creating more
resilient, circular supply to support the energy transition.

The Company's three core business units are exploiting the technologies under
principal, joint venture and licensing business models:

 

·     Lithium-ion Battery ("LiB") Recycling (50% technology) -
Commercialisation via Primobius GmbH JV (NMT 50% equity). All plants built by
Primobius' co-owner (SMS group 50% equity), a 150-year-old German plant
builder. Providing recycling service as principal in Germany and commenced
plant supply and licensing activities as technology partner to Mercedes-Benz.
Primobius targeting first commercial 21,000 tpa plant offer to Canadian
company Stelco in the DecQ 2023;

·     Lithium Chemicals (70% technology) - Commercialising patented ELi™
electrolysis process, co-owned 30% by Mineral Resources Ltd, to produce
battery quality lithium hydroxide from brine and/or hard-rock feedstocks at
lowest quartile operating costs. Co-funding Pilot Plant trials in 2023 with
planned Demonstration Plant trials and evaluation studies in 2024 for
potential 25,000tpa LiOH operation in Portugal under a 50:50 JV with related
entity to Bondalti, Portugal's largest chemical company; and

·     Vanadium Recovery (100% technology) - aiming to produce high-purity
vanadium pentoxide from processing of steelmaking by-product ("Slag") at
lowest-quartile operating cost. Targeting partnerships with steel makers and
participants in the vanadium chemical value chain under a low risk / low capex
technology licensing business model.

 

For further information visit www.neometals.com.au
(http://www.neometals.com.au/)

 

 

 1  For full details refer to Neometals ASX announcement headlined "Notice of
Annual General Meeting" released on 23(rd) October 2023.

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