The
information communicated within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 which is part of UK law by virtue of
the European Union (withdrawal) Act 2018. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
6
November 2024
Neometals
Ltd
("Neometals" or "the
Company")
Results of Entitlement
Offer
Sustainable process technology
developer, Neometals Ltd (ASX: NMT & AIM: NMT) (Neometals or the Company), advises that Neometals'
non-renounceable pro-rata entitlement offer announced on the ASX on
11 October 2024 (Entitlement
Offer)[1] of
new fully paid ordinary shares in Neometals (New Shares), closed on 30 October
2024.
Capitalised terms not defined in this announcement have the
meaning given to them in the offer booklet released on the ASX by
NMT on 11 October 2024 in relation to the Entitlement Offer
(Offer
Booklet).
Neometals received applications from
Eligible Shareholders under the Entitlement Offer for 12,643,088
New Shares at the issue price of A$0.09 per New Share (Offer Price), representing an
approximate 22% 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
have been issued today, with the normal trading of those New Shares
expected to begin on 7 November 2024.
|
Shortfall Notification
|
|
Total number of New Shares available under the Entitlement
Offer
|
57,496,821
|
|
Total number of New Shares
subscribed for under the Entitlement Offer (excluding the Top Up
Facility)
|
12,643,088
|
|
Total number of New Shares
subscribed for under the Top Up Facility
|
22,039,300
|
|
Total New Shares subscribed for under the Entitlement Offer
(including the Top Up Facility)
|
34,682,388
|
|
|
|
|
Total Shortfall Shares
|
22,814,433
|
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 Neometals 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 Funds Raised
Together with the Placement to
sophisticated, professional and other institutional investors that
raised approximately A$4 million (before costs), 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$7.1 million.
The proceeds from the Offer will be
directed towards:
· LiB
recycling development
·
Lithium and vanadium technology research and
development
·
Barrambie Gold and Titanium
·
Staff, general and administrative costs
Application will be made to the
London Stock Exchange for the New Shares to be admitted to trading
on AIM. It is currently expected that Admission will become
effective, and that dealings in the New Shares will commence on
AIM, at 8.00 a.m. on 11 November 2024. The Enlarged Issued Share
Capital, as increased by the New Shares, immediately following
Admission (and excluding any issues of shares pursuant to the
exercise of any employee share incentives or options between the
date of this Announcement and Admission) will be 769,425,084
Ordinary Shares.
The New Shares, when issued, will be
credited as fully paid and will rank on Admission pari passu in all
respects with each other and with the Existing Shares, including
the right to receive all dividends and other distributions
declared, made or paid after the date of issue.
Authorised for release by the Board
of Neometals Ltd.
- ENDS
-
For more information, please
contact:
|
Neometals Ltd
|
|
|
Chris Reed, Managing Director &
Chief Executive Officer
|
+61 8 9322 1182
|
|
Chris Kelsall, CFO & Company
Secretary
|
+61 8 9322 1182
|
|
Cavendish Capital Markets Ltd - NOMAD &
Broker
|
|
|
Neil McDonald
|
+44 (0)131 220 9771
|
|
Peter Lynch
|
+44 (0)131 220 9772
|
|
Adam Rae
|
+44 (0)131 220 9778
|
|
|
|
About Neometals
Neometals facilitates sustainable
critical material supply chains and reduces the environmental
burden of traditional mining in the global transition to a circular
economy.
The Company is commercialising a
portfolio of sustainable processing solutions that recycle and
recover critical materials from high-value waste
streams.
· Neometals' core focus is its patented, Lithium-ion Battery ("LiB")
Recycling technology (50% NMT), being commercialised
in a 50:50 incorporated JV (Primobius GmbH) with 150-year-old
German plant builder, SMS group GmbH. Primobius is supplying
Mercedes-Benz a 2,500tpa recycling plant and operates its own LiB
Disposal Service in Germany. Primobius' first 21,000tpa commercial
plant will be offered to Stelco under an existing technology
licence for North America.
Neometals is developing two advanced
battery materials technologies for commercialisation under
low-risk, low-capex technology licensing business
models:
· Lithium Chemicals (70%
NMT) - 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. Pilot scale test work and
Engineering Cost Study update planned for completion in DecQ 2024;
and
· Vanadium
Recovery (100%
NMT) - Patent pending
hydrometallurgical process to produce high-purity vanadium
pentoxide from steelmaking by-product ("Slag") at lowest-quartile
operating cost and carbon footprint.
For further information, visit: www.neometals.com.au.
