Result of AGM
Neo Energy Metals plc announced that all resolutions were passed at its Annual General Meeting, indicating strong shareholder support for the company's strategy and governance. This positive outcome positions Neo Energy to advance its key objectives, including completing the acquisition of the New Beisa Uranium and Gold Project from Sibanye-Stillwater, progressing its implementation assessment, advancing the Henkries Mining Right application, and preparing for a JSE Main Board listing. The company holds significant uranium and gold resources in South Africa, with projected production targets and cost efficiencies outlined for its projects.
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Neo Energy Metals plc (LSE: NEO; A2X: NEO), the uranium and gold development company focused on South Africa, announces that at the AGM of the Company held earlier today, all the resolutions set out in the Notice of AGM dated 23 April 2026 were duly passed by shareholders.
Following the successful outcome of the AGM, the Board believes the Company is well positioned to continue advancing its strategic and development objectives during 2026.
This includes:
- progressing completion of the acquisition of the New Beisa Uranium and Gold Project from Sibanye-Stillwater;
- advancing the implementation assessment programme at New Beisa;
- progressing the Henkries Mining Right application process; and
- continuing preparations for the Company's planned JSE Main Board listing.
Neal Froneman, Independent Non-Executive Chairman of Neo Energy Metals, commented,
"The strong support received from shareholders at today's AGM, including the re-election of the recently reconstituted Board, is an important endorsement of the Company's strategy, governance framework and long-term development objectives.
As we continue advancing our projects towards production, the Board remains focused on disciplined governance, clear strategic execution and maintaining the standards expected of a listed company.
We believe Neo Energy is well positioned to continue progressing its development pipeline and creating long-term value for shareholders."
| No | Resolution | FOR | %-FOR | AGAINST | %- AGAINST | TOTAL | WITHHELD |
|---|---|---|---|---|---|---|---|
| ORDINARY RESOLUTIONS | |||||||
| 1 | Receive annual report for FY 2023/24 and FY 2024/25 | 678,909,630 | 99.35% | 4,412,566 | 0.65% | 683,322,196 | 10,000 |
| 2 | Approved Directors' Remunerations reports (FY 2023/24 and FY 2024/25) | 667,829,929 | 98.32% | 11,436,385 | 1.68% | 679,266,314 | 4,065,882 |
| 3 | Approved Directors' Remuneration policy | 672,863,806 | 98.47% | 10,458,390 | 1.53% | 683,322,196 | 10,000 |
| 4 | Appoint BDO LLP as auditor | 678,906,816 | 99.35% | 4,415,380 | 0.65% | 683,322,196 | 10,000 |
| 5 | Re-elect Neal Froneman as director | 678,904,696 | 99.35% | 4,417,500 | 0.65% | 683,322,196 | 10,000 |
| 6 | Re-elect Sajjad Sabur as director | 678,904,696 | 99.35% | 4,417,500 | 0.65% | 683,322,196 | 10,000 |
| 7 | Re-elect John Wallington as director | 678,904,696 | 99.35% | 4,417,500 | 0.65% | 683,322,196 | 10,000 |
| 8 | Re-elect Johan Reeder as director | 678,904,696 | 99.35% | 4,417,500 | 0.65% | 683,322,196 | 10,000 |
| 9 | Re-elect Theodoros Botoulas as director | 678,904,696 | 99.35% | 4,417,500 | 0.65% | 683,322,196 | 10,000 |
| 10 | Re-elect De Wet Schutte as director | 678,804,696 | 99.34% | 4,517,500 | 0.66% | 683,322,196 | 10,000 |
| 11 | Approve Long-Term Incentive Plan | 665,050,617 | 97.64% | 16,071,516 | 2.36% | 681,122,133 | 2,210,063 |
| 12 | General authority to allot shares | 664,862,708 | 97.30% | 18,459,488 | 2.70% | 683,322,196 | 10,000 |
| 13 | Allot shares in relation to projects | 669,373,869 | 97.96% | 13,948,327 | 2.04% | 683,322,196 | 10,000 |
| SPECIAL RESOLUTIONS | |||||||
| 14 | Disapplication of pre-emption relating to Resolution 12 | 666,685,265 | 97.57% | 16,636,931 | 2.43% | 683,322,196 | 10,000 |
| 15 | Disapplication of pre-emption relating to Resolution 13 | 667,163,806 | 97.64% | 16,158,390 | 2.36% | 683,322,196 | 10,000 |
New Beisa Node - Free State Goldfields
The asset carries more than US$500 million in historical capital investment and benefits from existing surface infrastructure including a headgear and winding systems, a gold processing plant with 120,000 tonne-per-month milling capacity, primary ventilation, a tailings storage facility and all major utilities. Underground development is in place, with the Beisa Reef accessible from the existing shaft at depths of 300 to 1,000 metres.
Initial annual production is targeted at approximately 810,000Mlb uranium and 52,000 ounces of gold, at an all-in sustaining cost below US$30 per pound uranium equivalent after gold credits, with an estimated mine life of 17 years on current Measured and Indicated resources.
Henkries Node - Northern Cape
The process route - conventional acid leach to yellowcake - has been proven through an Anglo-American pilot plant that processed more than 200 test pits at a cost of over US$30 million.
A 2024 Feasibility Study for the Henkries project indicates annual production of approximately 580,000lbs of uranium at a cash cost of approximately US$33/lb, with an NPV (8%) of US$60 million and an IRR in excess of 25% at US$85/lb. Total initial capital requirement is approximately US$65 million
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