Director / PDMR Dealings

RNS Number : 8559F

Neometals Ltd

09 November 2022

 

9 November 2022

Neometals Ltd

("Neometals" or "the Company")

Director / PDMR Dealings

Emerging battery materials producer, Neometals Ltd (ASX: NMT / AIM: NMT) ("Neometals" or "the Company") advises that 394,668 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 Jason Carone, CFO.

For each Performance Right that was exercised, Mr Carone was 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 394,668 new ordinary shares (New Ordinary Shares).

Further to the exercise of the Performance Rights and the issuing of the New Ordinary Shares, the Company has been notified that Mr Carone has sold a total of 163,206 ordinary shares at a price of A$1.06 (approximately 60p) per ordinary share in order to cover tax liabilities arising on the exercise of Performance Rights.

In addition, Mr Carone has transferred 20,000 ordinary shares from his family trust to his superannuation account at a price of A$1.06 (approximately 60p) per ordinary share, with no change in the beneficial ownership of these shares.

Following these transactions, Mr Carone is interested in 746,402 ordinary shares representing 0.135 percent. of the issued share capital of the Company.

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

· 552,741,176 fully paid ordinary shares.

· 12,633,930 performance rights issued pursuant to the terms of the PRP, comprising:

o  12,633,930 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 9 November 2022.

Following Admission, the above figure of 552,741,176 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 Chris Reed, Managing Director

ENDS

For more information, please contact:

Neometals Ltd
Chris Reed, Managing Director & Chief Executive Officer	[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]
Jonathan Hardy
Jamil Miah
Camarco PR	+ 44(0) 20 3757 4980
Gordon Poole
Charlotte Hollinshead
Lily Pettifar

About Neometals

Neometals' focus is the continuous development and innovative commercialisation of our proprietary technologies with strong global partners to generate value through sustainable production of battery materials

Decarbonisation, sustainability and resilient supply chains are the key challenges for the energy storage and electric vehicle supply chain. Our technologies, particularly those in battery materials recycling and recovery, reduce reliance on traditional mining and processing, and support circular economic principles.

Neometals have three core battery materials businesses commercialising proprietary, low-cost, low-carbon process technologies:

• Lithium-ion Battery ("LIB") Recycling (50% equity) - to produce nickel, cobalt and lithium from production scrap and end-of-life LIBs in an incorporated JV with leading global plant builder SMS group. The Primobius JV is operating a commercial disposal service at its 10tpd Shredding 'Spoke' in Germany and is the recycling technology partner to Mercedes Benz. Primobius' first 50tpd operation will be in partnership with Stelco in Canada is expected to reach investment decision in MarQ 2023;

• Vanadium Recovery (earning 50% equity) - to produce high-purity vanadium pentoxide via processing of steelmaking by-product ("Slag"). Finalising evaluation studies on a 300,000tpa operation in Pori, Finland and a potential JV with Critical Metals, underpinned by a 2Mt, 10-year Slag supply agreement (together with potential availability of a further 1.1Mt) with leading Scandinavian steelmaker SSAB. JV investment decision expected end Dec 2022. MOU with H2Green Steel for up to 4Mt of Slag underpins a potential second operation in Boden, Sweden; and

• Lithium Chemicals (earning 35% equity) - to produce battery quality lithium hydroxide from brine and/or hard-rock feedstocks using RAM's patented ELi® electrolysis process. Co-funding pilot plant and evaluation studies on a 20,000tpa operation in Estarreja, Portugal in a 50:50 JV between RAM (70% NMT, 30% Mineral Resources Ltd) and Portugal's largest chemical producer Bondalti Chemicals S.A. Investment decision expected Dec 2023.

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:	Jason Carone
2.	Reason for the notification
a)	Position/status:	CFO and 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: Identification code:	Ordinary Shares AU000000NMT1
b)	Nature of the transaction:	1)  Exercise of Performance Rights; and 2)  Sale of Shares 3)  Transfer of shares
c)	Price(s) and volume(s):	Transaction	Price	Volume
		1)	Nil	394,668
		2)	A$1.06 (approx. 60p)	163,206
		3)	A$1.06 (approx. 60p)	20,000
d)	Aggregated information: Aggregated volume: Price:	N/A
e)	Date of the transaction:	1)  8 November 2022 2)  9 November 2022 3)  9 November 2022
f)	Place of the transaction:	Australian Stock Exchange, ASX (NMT)

 

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