Annual General Meeting - Withdrawal of Resolution

Neometals Ltd

20 November 2023

 

20 November 2023

Neometals Ltd

("Neometals" or "the Company")

Neometals Annual General Meeting - Withdrawal of Resolution

Innovative battery materials recycler, Neometals Ltd (ASX: NMT & AIM: NMT) ("Neometals" or "the Company"), advises that the Board has determined that it is appropriate to withdraw the following resolution referred to in the Neometals Notice of Annual General Meeting ("AGM")[1] for the consideration at the Company's AGM to be held on Friday 24^th November 2023:

·    Resolution 4 - Approval of increase to maximum aggregate remuneration of non-executive directors.

The decision was taken by the Board after due regard to sentiment evident in preliminary proxy voting returns.

Resolution 4 was designed to better enable the Company's future board succession planning arrangements and its withdrawal is not anticipated to have any material impact.

The validity of proxy forms provided in connection with the AGM and all proxies already submitted by shareholders in respect of the other proposed resolutions at the AGM remain unaffected by the withdrawal.

All other items of business included in the Notice of Meeting provided to shareholders remain unaffected and will be put to shareholders at the AGM.

Authorised on behalf of Neometals by the Board of Directors of the Company.

For more information, please contact:

Neometals Ltd
Chris Reed, Managing Director & Chief Executive Officer	[phone]
Jeremy McManus, General Manager - IP & IR	[phone]
Cavendish Securities plc - NOMAD & Joint Broker
Neil McDonald	[phone]
Peter Lynch	[phone]
Adam Rae	[phone]
RBC Capital Markets - Joint Broker	[phone]
Paul Betts
Jamil Miah
Camarco PR	+ 44(0) 20 3 757 4980
Gordon Poole
Emily Hall
Lily Pettifar

About Neometals

Neometals has developed and is commercialising three environmentally-friendly processing technologies that produce critical and strategic battery materials at lowest quartile costs with minimal carbon footprint.

Through strong industry partnerships, Neometals is demonstrating the economic and environmental benefits of sustainably producing lithium, nickel, cobalt and vanadium from lithium-ion battery recycling and steel waste recovery. This reduces the reliance on traditional mine-based supply chains and creating more resilient, circular supply to support the energy transition. 

The Company's three core business units are exploiting the technologies under principal, joint venture and licensing business models:

·     Lithium-ion Battery ("LiB") Recycling (50% technology) - Commercialisation via Primobius GmbH JV (NMT 50% equity). All plants built by Primobius' co-owner (SMS group 50% equity), a 150-year-old German plant builder. Providing recycling service as principal in Germany and commenced plant supply and licensing activities as technology partner to Mercedes-Benz. Primobius targeting first commercial 21,000 tpa plant offer to Canadian company Stelco in the DecQ 2023;

·     Lithium Chemicals (70% technology) - Commercialising 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. Co-funding Pilot Plant trials in 2023 with planned Demonstration Plant trials and evaluation studies in 2024 for potential 25,000tpa LiOH operation in Portugal under a 50:50 JV with related entity to Bondalti, Portugal's largest chemical company; and

·     Vanadium Recovery (100% technology) - aiming to produce high-purity vanadium pentoxide from processing of steelmaking by-product ("Slag") at lowest-quartile operating cost. Targeting partnerships with steel makers and participants in the vanadium chemical value chain under a low risk / low capex technology licensing business model.

For further information visit www.neometals.com.au

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[1] For full details refer to Neometals ASX announcement headlined "Notice of Annual General Meeting" released on 23^rd October 2023.

 

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