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LONDON/JOHANNESBURG - Neo Energy Metals plc (LSE:NEO, A2X:NEO) announced Wednesday it is finalizing the appointment of Strate Proprietary Limited as its new South African transfer secretary, following the resignation of JSE Investor Services Proprietary Limited on June 30.
The uranium developer said the primary benefit of appointing Strate, a licensed central securities depository, will be enabling high-speed electronic transfers of shares between the United Kingdom (TADAWUL:4280) and South Africa within hours. This change eliminates the current re-materialization and de-materialization process that typically takes two to four weeks.
According to the company’s press release statement, Strate will facilitate the establishment of a South African share register under its nominee company, PLC Nominees (Pty) Ltd. This arrangement will enable trading and settlement of Neo Energy’s shares by South African investors on South Africa’s A2X Markets and later on the Johannesburg Stock Exchange, once the company completes its proposed fast-tracked listing application later this year.
The new transfer secretary will provide custody, administrative, and cross-border transfer services for shares held by South African investors through a Foreign Securities Account, complying with regulatory requirements in both jurisdictions.
Neo Energy Metals described the appointment as aligning with its broader strategy to enable direct participation from South African investors in the company’s future growth and facilitate seamless securities transfers between the UK and South Africa.
The company currently holds uranium assets in South Africa, including interests in the Beisa North and South Uranium and Gold Projects, the Beatrix 4 mine complex, and stakes in the Henkries Uranium Project.
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