REG - Neometals Ltd - Results of Non-Renounceable Entitlement Offer

NeometalsAnnouncement

13/12/2023 07:15

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RNS Number : 6205W  Neometals Ltd  13 December 2023

 

NOT FOR RELEASE TO US WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE
UK VERSION OF THE MARKET ABUSE REGULATION NO. 596/2014 (MAR), WHICH IS PART OF
ENGLISH LAW BY VIRTUE OF EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.
UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

13 December 2023

Neometals Ltd

("Neometals" or "the Company")

 

Results of Non-Renounceable Entitlement Offer and Shortfall Notice

 

Innovative battery materials recycler, Neometals Ltd (ASX: NMT & AIM:
NMT), advises that Neometal's non-renounceable pro-rata entitlement offer
announced on the ASX on 21 November 2023 ("Entitlement Offer") of new fully
paid ordinary shares in NMT ("New Shares"), closed on 8 December 2023.
Capitalised terms not defined in this announcement have the meaning given to
them in the offer booklet released on the ASX by NMT on 29 November 2023 in
relation to the Entitlement Offer ("Offer Booklet").

 

Neometals received applications from Eligible Shareholders under the
Entitlement Offer for 11,390,238 New Shares at the issue price of A$0.19 per
New Share ("Offer Price"), representing an approximate 16.5% take up.
Eligible Shareholders were also offered the opportunity to apply for
additional New Shares in excess of their Entitlement, at the Offer Price under
the Top Up Facility. When combined with the Top Up Facility, valid
applications from Eligible Shareholders in respect of the Entitlement Offer
were approximately A$3.1 million. New Shares under the Entitlement Offer are
expected to be issued on 15 December 2023, with the normal trading of those
New Shares expected to begin on 18 December 2023. The Entitlement Offer closed
at 5pm (Perth, Aus) on Friday, 8 December 2023.

 

Under the terms of the Company's placement capacity pursuant to ASX Listing
Rules 7.1 and 7.1A, Neometals reserves the right to place any Shortfall Shares
at its discretion (including in conjunction with the Lead Manager) but has
made no decision to do so at this stage. Any Shortfall must be issued within
three months after the Closing Date and at a price per New Share that is not
less than the Offer Price. Shortfall Shares will not be allocated or issued
where NMT considers that to do so would result in a breach of the Corporations
Act, the Listing Rules or any other relevant regulation or law.

 

 Total securities available under the Entitlement Offer  69,853,840  A$13,272,229.60
 Entitlement acceptances                                 11,390,238  A$2,164,145.22
 Additional subscriptions                                5,117,870   A$972,395.30
 Total valid applications                                16,508,108  A$3,136,540.52
 Securities available for Shortfall Offer                53,345,732  A$10,135,689.08

 

Applications will be made to the ASX and the London Stock Exchange for the
16,508,108 New Shares to be issued under the Entitlement Offer to be admitted
to trading on ASX and AIM. It is expected that admission to trading on ASX
("ASX Admission") of the 16,508,108 New Shares will commence on ASX and
admission to trading on AIM ("UK Admission") (together with ASX Admission,
"Admission") will become effective and that dealings in the relevant New
Shares will commence on AIM on or around 8.00am (UK time) on Monday, 18
December 2023.

 

Following Admission of the New Shares to be issued under the Entitlement
Offer, the total number of NMT ordinary shares on issue is expected to be
622,690,316.

 

Total funds raised

 

Together with the Placement to sophisticated, professional and other
institutional investors that raised approximately A$9.0 million (refer ASX
release 23 November 2023), the gross proceeds under the Placement and the
Entitlement Offer (the Entitlement Offer and the Placement are together
referred to as the Offer) are approximately A$12.1 million.

 

The proceeds from the Offer will be directed towards:

•             activities at the Primobius LiB recycling
development;

•             lithium chemical research development activities;

•             vanadium and titanium business units; and

•             working capital, corporate and Offer costs.

 

 

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 Capital Markets Limited - NOMAD & Broker
 Neil McDonald                                                +44 (0)131 220 9771
 Peter Lynch                                                  +44 (0)131 220 9772
 Adam Rae                                                     +44 (0)131 220 9778

 Camarco PR                                                   + 44 (0)203 757 4980
 Gordon Poole
 Emily Hall
 Lily Pettifar

 

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