11 September 2023
Neometals Ltd
("Neometals" or "the Company")
Director / PDMR Dealings
Emerging sustainable battery materials producer, Neometals Ltd (ASX: NMT & AIM: NMT) ("Neometals" or "the Company") advises that a total of 3,884,433 performance rights (Performance Rights) have been granted to certain employees and contractors under the Company's Performance Rights Plan (PRP), as approved by shareholders on 25 November 2022.
Included within this award are 571,512 Performance Rights for Chris Reed, Chief Executive Officer, and 314,759 Performance Rights for Jason Carone, Chief Financial Officer and Company Secretary.
Each Performance Right entitles the holder to a fully paid ordinary share in the Company at no cost. The number of Performance Rights that may vest on 30 June 2026 (or 31 December 2026) will be determined by reference to the extent to which the performance conditions as measured in respect of the period ending on the relevant vesting date have been met. Any vested Performance Rights are exercisable within 12 months from the vesting date.
The updated interests of the above individuals (following issue of 3,884,433 Performance Rights pursuant to the PRP) in the share capital of the Company are as follows:
| PDMR | New performance rights | Vested performance rights | Total performance rights* | Total shares (direct and indirect) |
| Chris Reed | 571,512 | 1,491,079 | 3,042,219 | 7,868,589 |
| Jason Carone | 314,759 | 532,844 | 1,361,618 | 766,462 |
*Includes both vested and unvested PRP Performance Rights which remain subject to vesting conditions.
As a result of the issue of the Performance Rights to the NEDs pursuant to the Company's PRP, the Company has the following securities on issue:
· 553,307,937 fully paid ordinary shares.
· 15,221,224 performance rights issued pursuant to the terms of the PRP, comprising:
o 5,494,032 vested performance rights, which remain subject to exercise; and
o 9,727,192 unvested performance rights, which are subject to performance testing in accordance with their terms of issue.
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.
Change of Name of Nominated Adviser and Joint Broker
The Company also announces that its Nominated Adviser and Joint Broker has changed its name to Cavendish Securities plc following completion of its own corporate merger."
Authorised on behalf of Neometals by Jason Carone, Company Secretary
ENDS
For more information, please contact:
| Neometals Ltd | |
| Chris Reed, Chief Executive Officer | +61 8 9322 1182 |
| Jeremy McManus | +61 8 9322 1182 |
|
| |
| Cavendish Securities plc - NOMAD & Broker | |
| Neil McDonald | +44 (0)131 220 9771 |
| Peter Lynch | +44 (0)131 220 9772 |
| Adam Rae | +44 (0)131 220 9778 |
| | |
| RBC Capital Markets - Joint Broker | +44 (0)20 7653 4000 |
| Paul Betts | |
| Jamil Miah | |
| | |
| Camarco PR | + 44 (0)203 757 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 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.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Chris Reed | |
| 2. | Reason for the notification | ||
| a) | Position/status: | Chief Executive Officer | |
| b) | Initial notification/Amendment: | Initial Notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name: | Neometals Ltd | |
| b) | LEI: | 254900WO0PDVL8V1PY78 | |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument:
| Performance Rights
AU000000NMT1 | |
| b) | Nature of the transaction: | Grant of Performance Rights
| |
| c) | Price(s) and volume(s): | Price | Volume |
| Nil | 571,512 | ||
| d) | Aggregated information: Aggregated volume: Price: | N/A
| |
| e) | Date of the transaction: | 11 September 2023
| |
| f) | Place of the transaction: | Off Market | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name: | Jason Carone | |
| 2. | Reason for the notification | ||
| a) | Position/status: | Chief Financial Officer & Company Secretary | |
| b) | Initial notification/Amendment: | Initial Notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name: | Neometals Ltd | |
| b) | LEI: | 254900WO0PDVL8V1PY78 | |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument:
| Performance Rights
AU000000NMT1 | |
| b) | Nature of the transaction: | Grant of Performance Rights
| |
| c) | Price(s) and volume(s): | Price | Volume |
| Nil | 314,759 | ||
| d) | Aggregated information: Aggregated volume: Price: | N/A
| |
| e) | Date of the transaction: | 11 September 2023
| |
| f) | Place of the transaction: | Off Market | |
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