Neometals Ltd Results of Non-Renounceable Entitlement Offer (6205W)
13 Dezembro 2023 - 4:00AM
UK Regulatory
TIDMNMT
RNS Number : 6205W
Neometals Ltd
13 December 2023
NOT FOR RELEASE TO US WIRE SERVICES OR DISTRIBUTION IN THE
UNITED STATES
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION NO.
596/2014 (MAR), WHICH IS PART OF ENGLISH LAW BY VIRTUE OF EUROPEAN
UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
13 December 2023
Neometals Ltd
("Neometals" or "the Company")
Results of Non-Renounceable Entitlement Offer and Shortfall
Notice
Innovative battery materials recycler, Neometals Ltd (ASX: NMT
& AIM: NMT), advises that Neometal's non-renounceable pro-rata
entitlement offer announced on the ASX on 21 November 2023
("Entitlement Offer") of new fully paid ordinary shares in NMT
("New Shares"), closed on 8 December 2023. Capitalised terms not
defined in this announcement have the meaning given to them in the
offer booklet released on the ASX by NMT on 29 November 2023 in
relation to the Entitlement Offer ("Offer Booklet").
Neometals received applications from Eligible Shareholders under
the Entitlement Offer for 11,390,238 New Shares at the issue price
of A$0.19 per New Share ("Offer Price"), representing an
approximate 16.5% take up. Eligible Shareholders were also offered
the opportunity to apply for additional New Shares in excess of
their Entitlement, at the Offer Price under the Top Up Facility.
When combined with the Top Up Facility, valid applications from
Eligible Shareholders in respect of the Entitlement Offer were
approximately A$3.1 million. New Shares under the Entitlement Offer
are expected to be issued on 15 December 2023, with the normal
trading of those New Shares expected to begin on 18 December 2023.
The Entitlement Offer closed at 5pm (Perth, Aus) on Friday, 8
December 2023.
Under the terms of the Company's placement capacity pursuant to
ASX Listing Rules 7.1 and 7.1A, Neometals reserves the right to
place any Shortfall Shares at its discretion (including in
conjunction with the Lead Manager) but has made no decision to do
so at this stage. Any Shortfall must be issued within three months
after the Closing Date and at a price per New Share that is not
less than the Offer Price. Shortfall Shares will not be allocated
or issued where NMT considers that to do so would result in a
breach of the Corporations Act, the Listing Rules or any other
relevant regulation or law.
Total securities available under the 69,853,840 A$13,272,229.60
Entitlement Offer
------------------------------------- ----------- ----------------
Entitlement acceptances 11,390,238 A$2,164,145.22
------------------------------------- ----------- ----------------
Additional subscriptions 5,117,870 A$972,395.30
------------------------------------- ----------- ----------------
Total valid applications 16,508,108 A$3,136,540.52
------------------------------------- ----------- ----------------
Securities available for Shortfall 53,345,732 A$10,135,689.08
Offer
------------------------------------- ----------- ----------------
Applications will be made to the ASX and the London Stock
Exchange for the 16,508,108 New Shares to be issued under the
Entitlement Offer to be admitted to trading on ASX and AIM. It is
expected that admission to trading on ASX ("ASX Admission") of the
16,508,108 New Shares will commence on ASX and admission to trading
on AIM ("UK Admission") (together with ASX Admission, "Admission")
will become effective and that dealings in the relevant New Shares
will commence on AIM on or around 8.00am (UK time) on Monday, 18
December 2023.
Following Admission of the New Shares to be issued under the
Entitlement Offer, the total number of NMT ordinary shares on issue
is expected to be 622,690,316.
Total funds raised
Together with the Placement to sophisticated, professional and
other institutional investors that raised approximately A$9.0
million (refer ASX release 23 November 2023), the gross proceeds
under the Placement and the Entitlement Offer (the Entitlement
Offer and the Placement are together referred to as the Offer) are
approximately A$12.1 million.
The proceeds from the Offer will be directed towards:
-- activities at the Primobius LiB recycling development;
-- lithium chemical research development activities;
-- vanadium and titanium business units; and
-- working capital, corporate and Offer costs.
For more information, please contact:
Neometals Ltd
Chris Reed, Managing Director & Chief Executive Officer +61 8 9322 1182
Jeremy McManus, General Manager - IP & IR +61 8 9322 1182
Cavendish Capital Markets Limited - NOMAD & Broker
+44 (0)131 220
Neil McDonald 9771
+44 (0)131 220
Peter Lynch 9772
+44 (0)131 220
Adam Rae 9778
+ 44 (0)203 757
Camarco PR 4980
Gordon Poole
Emily Hall
Lily Pettifar
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