Neo
Energy Metals plc / LSE: NEO, A2X: NEO / Market: Main Market of the
London Stock Exchange
31
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 a new share option scheme to further
incentivise the executive and non-executive directors of the
company.
Unapproved share options scheme
On 29th April 2024 the
directors agreed to introduce an unapproved share option
('options') scheme which was approved by the renumeration committee
and board of the directors of the Company. The scheme is
"unapproved" for tax purposes whereby the directors are ultimately
responsible for their own tax on any gains made from exercising any
of the options which are the subject of the scheme. The scheme is
commensurate with other share option schemes issued by similar
companies as part of the overall renumeration packages of the
directors.
The scheme has authorised the issue
of 150,000,000 share options over 150,000,000 ordinary shares of
£0.0001 to the directors which represent 9.59% of the existing
enlarged share capital of the company. The Share Options are to
have an exercise price of 1.25p and have an expiry date of 31 May
2027
The non-executive directors are to
receive up to 20,000,000 options each, with the executive directors
receiving the balance equally, less 10,000,000 options set aside
for key employees.
Neo
Energy CEO Sean Heathcote said, "We are delighted to
announce the issuance of share options to the executive and
non-executive directors of the Company to further incentivise the
directors as part of their overall remuneration
package."
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 a
two-year 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. Additionally,
the company's shares are 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.
ENDS
For
Enquiries Contact:
|
Sean Heathcote
|
CEO
Neo Energy Metals plc
|
sean@neoenergymetals.com
|