TIDMNEO
RNS Number : 9926S
Neo Energy Metals PLC
10 November 2023
Neo Energy Metals plc / EPIC: NEO / Market: Main Market of the
London Stock Exchange
10 November 2023
Neo Energy Metals plc
('Neo Energy' or 'the Company')
Subscription Raises GBP500,000
Neo Energy Metals plc, the near term, low-cost uranium
developer, is pleased to announce that it has raised GBP500,000 by
way of a Subscription, through the issue of 40,000,000 new Ordinary
Shares of GBP0.0001 in the Company (the Subscription Shares") at a
price of 1.25 pence per Ordinary Share. This is in addition to the
share placings described in the Company's prospectus published on 2
October 2023 and First Day of Dealings RNS announced on 9 November
2023.
Application for the Subscription Shares to be admitted to
trading on the Main Market of the London Stock Exchange is expected
shortly.
Following admission of the 40,000,000 Subscription Shares, the
Company's issued share capital will consist of 1,256,371,468
ordinary shares with voting rights. No ordinary shares are held in
treasury at the date of this announcement and, therefore, following
admission of the Subscription Shares, the total number of ordinary
shares in the Company with voting rights will be 1,256,371,468.
The above total voting rights figure may be used by shareholders
as the denominator for the calculation by which they will determine
if they are required to notify their interest in, or a change to
their interest in the Company.
Neo Energy CEO Sean Heathcote said, "The additional placing of
GBP500,000 underlines the potential of the future of Neo Energy
Metals plc; demand for shares in the Company continued post the
publication of the prospectus and demonstrates strong investor
confidence in the business model, the assets, and the future
prospects of the Company."
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 testwork 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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END
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