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10 May 2024 14:08
Neo Energy Metals plc / LSE: NEO, A2X: NEO / Market: Main Market of the London Stock Exchange
10 May 2024
Neo Energy Metals plc
('Neo Energy' or 'the Company')
Directors Share Purchases
Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased to announce that Non-Executive Directors, James Longley and Charles Tatnall have purchased an aggregate 20,919,849 ordinary shares of £0.0001 in the Company ("Ordinary Shares") through a series of on and off market transactions at an average price of approx. 0.55 pence per Ordinary Share.
James Longley acquired 10,919,849 Ordinary Shares between 9 April 2024 and 17 April 2024 through three on-market acquisitions at an average price of 0.5453 pence per Ordinary Share. The purchase by Mr Longley has increased his shareholding in the Company from 46,867,797 Ordinary Shares to 57,787,646 Ordinary Shares and representing 4.14% of the Company's issued share capital.
Charles Tatnall acquired 10,000,000 Ordinary Shares at a price of 0.55 pence per Ordinary Share through an off-market acquisitions on 25 April 2024. The purchase by Mr Tatnall has increased his shareholding in the Company from 51,522,797 Ordinary Shares to 61,522,797 Ordinary Shares and representing 4.41% of the Company's issued share capital.
Neo Energy CEO Sean Heathcote said
"I am delighted to see our non-executive directors, James Longley and Charles Tatnall, demonstrate their support and underlying confidence in the Company and its future, by making these purchases of additional shares.
"These purchases have increased their respective shareholdings in the Company by almost 20% and when combined with the other holdings held by directors, the Board collectively now have over a 40% shareholding in the Company. This major holding by the Board is a great sign of belief in the Company and its strategy and firmly aligns our interests with shareholders.
Refer to the attached tables - Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name
| James Longley | ||||
2 | Reason for the notification | |||||
a)
| Position/status
| Non-Executive Director | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name
| Neo Energy Metals plc | ||||
b)
| LEI
| 213800WE14587VRQ5Y10
| ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of £0.0001
GB00BYWLRL80 | ||||
b)
| Nature of the transaction
| Purchase of 10,919,849 ordinary shares
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Average Price
|
Three Transactions 0.55 pence
| ||||
e)
| Date of the transaction
| 9-17 April 2024 via the London Stock Exchange | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name
| Charles Tatnall | ||||
2 | Reason for the notification | |||||
a)
| Position/status
| Non-Executive Director | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name
| Neo Energy Metals plc | ||||
b)
| LEI
| 213800WE14587VRQ5Y10
| ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument
Identification code
| Ordinary Shares of £0.0001
GB00BYWLRL80 | ||||
b)
| Nature of the transaction
| Purchase of 10,000,000 ordinary shares
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume - Price
|
Three Transactions 0.55 pence
| ||||
e)
| Date of the transaction
| 25 April 2024 in an off market transaction | ||||
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
About NEO Energy Metals Plc
Neo Energy Metals plc is a Uranium developer and mining company listed on the main market of the London Stock Exchange (LSE: NEO). The Company holds up to a 70% stake in the Henkries Uranium Project, an advanced, low-cost mine located in South Africa's Northern Cape Province. It has been estimated by some that the historical investment in the project was over US$30 million in exploration and feasibility studies, Neo Energy aims to increase the project's mineral resources and complete an updated feasibility study ahead of a determination of the development schedule at the end of 2024 to bring Henkries into production.
The company is led by a proven board and management team with experience in uranium and mineral project development in Southern Africa. Neo Energy's strategy focuses on an accelerated development and production approach to generate cash flow from Henkries while planning for long-term exploration and portfolio growth in the highly prospective Uranium district of Africa.
The Company's shares are also listed on the A2X Markets (A2X: NEO), an independent South African stock exchange, to expand its investor base and facilitate strategic acquisitions of uranium projects, particularly within South Africa.
For Enquiries Contact:
Sean Heathcote | Chief Executive Officer
| sean@neoenergymetals.com
|
Jason Brewer | Executive Chairman
| jason@neoenergymetals.com
|
Faith Kinyanjui Mumbi | Investor Relations | faith@neoenergymetals.com
|
Tel: +44 (0) 20 7236 1177 Tel: +44 (0) 77 1242 4838 |
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