Neo Energy Metals Announces Secondary Listing On A2X
Neo Energy Metals Announces Secondary Listing On A2X. Neo Energy Metals plc, the near term, low-cost uranium developer advancing the Henkries Uranium Project in the Northern Cape of the Republic of South Africa, is pleased to announce that it is pursuing a secondary listing on A2X Proprietary Limited, an independent stock exchange in South Africa.
Neo will list its shares for trade on A2X Markets from 27 February 2024. Neo will retain its primary listing on the London Stock Exchange (‘LSE’) and its issued share capital will be unaffected by its secondary listing on A2X.
Neo Energy CEO Sean Heathcote said: “The A2X has a strong track record as a leading destination for secondary listings, making it a natural secondary listing destination for a company like ours with an exciting uranium project in the Northern Cape. As well as increasing the liquidity and tradability of our shares, we anticipate that a secondary listing on the A2X will drive increased awareness of our activities as we build out our uranium portfolio. Furthermore, it demonstrates our commitment to our local stakeholders and support for developing South Africa’s capital markets.”
“Neo’s partnership with its cornerstone investor, Q Global Commodities, headed up by Quinton van der Burgh, has played a significant role in facilitating this decision. With a clear and defined growth path, supported by strong market dynamics, I am confident that Neo’s compelling investment proposition will attract significant interest from institutional investors in South Africa. I look forward updating shareholders as we fast-track the process in tandem with our newly appointed Corporate Advisor, AcaciaCap.” Heathcote added.
A2X CEO, Kevin Brady said: “We are delighted to welcome Neo Energy Metals to our market next week and are pleased that A2X was chosen as the exchange to enable South African investors access to this opportunity. This marks an important milestone as the first offshore inward listing on A2X. We expect further inward listings which enable A2X to expand investment opportunities available to the South African marketplace.”
Based on the significant interest from South African investors as well as discussions with its cornerstone investor, Q Global Commodities (‘QGC’), the company has decided to pursue a secondary listing on the A2X to enlarge its shareholder base and provide South African investors with an opportunity to invest in a uranium focused operator within the region.
