Neo Energy Metals (LON:NEO) Secondary Listing on A2X Proprietary Limited

Demonstrates commitment to local stakeholders and support for South Africa’s capital markets

Neo Energy Metals plc, the near term, low-cost uranium developer advancing the Henkries Uranium Project (‘Henkries’ or the ‘Project’) in the Northern Cape of the Republic of South Africa, is pleased to announce that it is pursuing a secondary listing on A2X Proprietary Limited (‘A2X Markets’ or ‘A2X’), an independent stock exchange in South Africa.

Neo will list its shares for trade on A2X Markets from 27 February 2024. Neo will retain its primary listing on the London Stock Exchange (‘LSE’) and its issued share capital will be unaffected by its secondary listing on A2X.

OVERVIEW

·    A2X is a licensed and regulated stock exchange in South Africa that provides a secondary platform for companies to list their shares for trade.

·    The secondary listing on the A2X will enlarge Neo’s shareholder base and provide South African investors with an opportunity to invest in a uranium focused operator within the region.

·    Shares will list for trade on A2X on 27 February 2024 under the share code “NEO”.

·    There is no cost or additional regulation to the secondary listing.

·    Neo engaged AcaciaCap Advisors Pty Ltd (‘AcaciaCap’) as its Corporate Advisor to manage and fast-track the A2X listing process.

Neo Energy CEO Sean Heathcote said: “The A2X has a strong track record as a leading destination for secondary listings, making it a natural secondary listing destination for a company like ours with an exciting uranium project in the Northern Cape. As well as increasing the liquidity and tradability of our shares, we anticipate that a secondary listing on the A2X will drive increased awareness of our activities as we build out our uranium portfolio.  Furthermore, it demonstrates our commitment to our local stakeholders and support for developing South Africa’s capital markets.

“Neo’s partnership with its cornerstone investor, Q Global Commodities, headed up by Quinton van der Burgh, has played a significant role in facilitating this decision. With a clear and defined growth path, supported by strong market dynamics, I am confident that Neo’s compelling investment proposition will attract significant interest from institutional investors in South Africa. I look forward updating shareholders as we fast-track the process in tandem with our newly appointed Corporate Advisor, AcaciaCap.”

A2X CEO, Kevin Brady said: “We are delighted to welcome Neo Energy Metals to our market next week and are pleased that A2X was chosen as the exchange to enable South African investors access to this opportunity. This marks an important milestone as the first offshore inward listing on A2X. We expect further inward listings which enable A2X to expand investment opportunities available to the South African marketplace.”

DETAILS

Based on the significant interest from South African investors as well as discussions with its cornerstone investor, Q Global Commodities (‘QGC’), the Company has decided to pursue a secondary listing on the A2X to enlarge its shareholder base and provide South African investors with an opportunity to invest in a uranium focused operator within the region.

Furthermore, the Company has engaged AcaciaCap as its Corporate Advisor to manage and fast-track the A2X listing process.

About AcaciaCap

AcaciaCap operates as a corporate finance boutique and listing advisory business.  AcaciaCap primarily serves customers in South Africa.

Find out more about Acacia Capital here: www.acaciacap.co.za

About A2X

A2X Markets, an independent South African stock exchange founded in 2014, is licensed and regulated by the Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA) in terms of the Financial Markets Act. The A2X provides an additional trading venue for a company to secondary list their shares for trade, it is authorised to secondary list Shares, ETFs and ETNs as well as to inward list shares with a foreign primary listing.

Find out more about A2X Markets here: https://www.a2x.co.za/

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