29
May 2024
Neometals
Ltd
("Neometals" or "the
Company")
Neometals Strengthens its
Senior Management Team
Sustainable process technology
developer, Neometals Ltd (ASX: NMT & AIM: NMT) ("Neometals" or "the Company"), is delighted to advise
of two new appointments to the Company's senior management team,
both are highly experienced and bring new capability and leadership
to the Company.
Appointment of Chief Operating Officer
Dr Jennifer Purdie, an existing
non-executive director, has been appointed an executive director
and will assume the responsibility of 'Chief Operating Officer'.
(See Appendix A for further
information on key agreement terms). Dr Purdie will support
Neometals 3 days per week for an initial term of 6 months and focus
on Primobius as it ramps up construction, commissioning and
commercial activities.
Dr Purdie, an MBA and PHD qualified
chemical and materials engineer, has more than 30 years of global
management and leadership experience spanning operational, business
improvement and corporate roles in the mining, energy, heavy
manufacturing, and infrastructure sectors. Dr Purdie has held key
senior leadership positions with Adani Renewables, Rio Tinto, Alcoa
and BHP with her last role seeing her managing BHP's Olympic Dam as
Asset President. Dr Purdie's addition as a member of the Neometals
executive team will provide much valued experience in project
execution and delivery.
Appointment of General Counsel
Mr Cathal Smith (LLB, LLM & MBA
(AGSM)) has commenced as Company General Counsel. Mr Smith has
extensive local and international experience advising corporates on
a wide range of projects and operations in both legal and
commercial roles. He is highly proficient in providing strategic
advice, effective problem solving and managing complex transactions
to achieve successful outcomes.
Neometals Managing Director, Chris Reed
says:
"We welcome Jenny and Cathal to our senior management team and
look forward to building our platform to deliver lithium battery
recycling plant packages to the global EV supply chain. Primobius
is maturing into an autonomous business and it will benefit
immensely from Jenny's impressive background in operational
excellence and asset optimisation. Cathal brings extensive
experience and capability across technology, construction and
corporate law for top-tier local and international ventures. The
appointments will afford me more time to focus on the execution of
our corporate and business development strategies and stakeholder
relations".
Authorised on behalf of Neometals by
Christopher Reed, Managing Director.
-ENDS-
For more information, please
contact:
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Neometals Ltd
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Chris Reed, Managing Director &
Chief Executive Officer
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+61 8 9322 1182
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Jeremy McManus, General Manager - IP
& IR
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+61 8 9322 1182
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Cavendish Capital Markets Ltd - NOMAD &
Broker
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Neil McDonald
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+44 (0)131 220 9771
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Peter Lynch
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+44 (0)131 220 9772
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Adam Rae
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+44 (0)131 220 9778
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Appendix A
Material terms of Ms Purdie's
services agreement:
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Annual Salary Package
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Pro rata based on $500,000 inclusive
of statutory superannuation (Note: Dr Purdie will no longer receive
her fee as a Non-Executive Director). The appointment is for
an initial period until 31 December 2024, and may be extended by
mutual agreement.
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Short-Term Incentive
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For each financial year, the Board,
at its sole discretion, may award Ms Purdie a cash bonus of up to
35% of the Annual Salary Package. The basis for determining
the bonus will be a range of criteria determined by the Board
including Ms Purdie's personal performance and the Company's
performance.
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Long-Term Incentive
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Subject to shareholder approval at a general meeting,
for each financial year, Dr Purdie will be invited
to apply for performance rights under the Company's performance
rights plan, as previously approved by the Company's
shareholders. The number of performance rights available for
grant will equate to 40% of the Annual Salary package divided by
the 60-day-VWAP of the Company's shares, prior to 1 July for the
particular financial year. Vesting of the performance rights
is subject to criteria relating to the Company's performance and
achievement of certain strategic objectives over a 3-year
period.
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Termination Notice Periods
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In addition to accelerated "for
cause" reasons, the agreement is terminable at either party's
discretion upon three (3) months' notice.
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About Neometals
Neometals facilitates sustainable
critical material supply chains and reduces the environmental
burden of traditional mining in the global transition to a circular
economy.
The Company is commercialising a
portfolio of sustainable processing solutions that recycle and
recover critical materials from high-value waste
streams.
Neometals' core focus is on the
commercialisation of its patented, Lithium-ion Battery ("LiB") Recycling
technology (50% NMT), under a plant supply and technology
licensing business model. Primobius GmbH is the 50:50
incorporated JV with 150-year-old German plant builder, SMS group
GmbH, that is commercialising the technology. Primobius is building
a 2,500tpa recycling plant for Mercedes-Benz under a long-term
Cooperation Agreement. It also operates its own LiB disposal
service in Germany and plans to offer its first commercial
21,000tpa plant to North American licensee, Stelco, in JunQ
2025.
Neometals is also developing two
advanced battery materials technologies for commercialisation under
low-risk, low-capex technology licensing business
models:
· Lithium Chemicals (70%
NMT) - Patented ELi™ electrolysis
process, co-owned 30% by Mineral Resources Ltd, to produce battery
quality lithium hydroxide from brine and/or hard-rock feedstocks at
lowest quartile operating costs. Pilot scale test work and
Engineering Cost Study update planned for completion in DecQ 2024;
and
· Vanadium Recovery (100%
NMT) - Patent pending
hydrometallurgical process to produce high-purity vanadium
pentoxide from steelmaking by-product ("Slag") at lowest-quartile
operating cost and carbon footprint.
For further information
visit www.neometals.com.au