Subscription Raises £500,000
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Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased to announce that it has raised £500,000 by way of a Subscription, through the issue of 40,000,000 new Ordinary Shares of £0.0001 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 £500,000 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."
| Sean Heathcote | CEO Neo Energy Metals plc | sean@neoenergymetals.com |
| Paul Dulieu Isabel de Salis Isabelle Morris | Financial PR St Brides Partners Ltd | neo@stbridespartners.co.uk |
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.
The team includes:
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