Exercise of Performance Rights

Neometals Ltd

06 September 2023

 

6 September 2023

Neometals Ltd

("Neometals" or "the Company")

Exercise of Performance Rights

Emerging battery materials producer, Neometals Ltd (ASX: NMT / AIM: NMT) ("Neometals" or "the Company") advises that 566,761 vested performance rights ("Performance Rights") issued pursuant to the Company's Performance Rights Plan ("PRP"), as approved by shareholders on 25 November 2020, have been exercised by certain ex-employees of the Company.

For each Performance Right that was exercised, the individuals were allocated one fully paid ordinary share in the Company. In accordance with the terms of the PRP, the exercise price was nil and the shares were allocated for nil cash consideration. Accordingly, the Company has issued 566,761 new ordinary shares ("New Ordinary Shares").

As a result of the exercise of vested Performance Rights pursuant to the Company's PRP, the Company has the following securities on issue:

·    553,307,937 fully paid ordinary shares.

·    11,336,791 performance rights on issue pursuant to the terms of the PRP, comprising:

o  5,494,032 vested performance rights, which remain subject to exercise; and

o  5,842,759 unvested performance rights, which are subject to performance testing in accordance with their terms of issue.

Application will be made for the admission of the New Ordinary Shares to trading on AIM ("Admission"). The New Ordinary Shares will rank pari passu with the existing ordinary shares and it is expected that Admission will become effective on or around 8.00 a.m. on 8 September 2023.

Following Admission, the above figure of 553,307,937 ordinary shares on issue may be used by shareholders as the denominator for calculations when determining if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Note:  Vested performance rights have a nil cash exercise price. Unless exercised beforehand, performance rights expire 1 year after vesting.

Authorised on behalf of Neometals by Jason Carone, Company Secretary

ENDS

For more information, please contact:

Neometals Ltd
Jason Carone, Chief Financial Officer & Company Secretary	[phone]
Jeremy McManus, General Manager - Commercial & Investor Relations	[phone]
Cenkos 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 3757 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 of lithium, nickel, cobalt and vanadium from lithium-ion battery recycling and steel waste recovery. Reducing the reliance on traditional mine-based supply chains and creating more resilient, circular supply chains 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 technology licencing activities as technology partner to Mercedes-Benz. investment decision for Primobius' first commercial 50tpd plant and JV with Stelco in Canada expected end 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 Demonstration Plant trials and evaluation studies in 2024 for potential 25,000tpa LiOH operation in Portugal under a 50:50 JV with 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. Investment decision with JV partner, Critical Metals pending on planned 9,000tpa vanadium pentoxide operation in Pori, Finland (NMT 72.5% equity). Feedstock sourced under 10-year Slag supply agreement with SSAB and product offtake agreement with Glencore. MOU with H2Green Steel for potential second, larger operation in Boden, Sweden

For further information visit www.neometals.com.au.

 

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