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Company Announcements

PDMR Holding

By LSE RNS

RNS Number : 9610S
Rainbow Rare Earths Limited
06 October 2017
 

 

 

 

6 October 2017

LSE: RBW

 

Rainbow Rare Earths Limited

("the Company" or "the Group")

 

Notification and public disclosure of transactions by PDMR

and persons closely associated with them

 

 

a)  

1.  

Details of the person discharging managerial responsibilities / person closely associated

a)  

Name

Jim Wynn

2.  

Reason for the notification

a)  

Position/status

CFO

b)  

Initial notification/Amendment

Initial notification

3.  

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)  

Name

Rainbow Rare Earths Limited

b)  

LEI

213800HONYSAXTG6KS11

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 of No Par Value

 

 

GG00BD59ZW98

b)  

Nature of the transaction

Purchase of Shares of No Par Value

c)  

Price(s) and volume(s)

 

Price(s)

Volume(s)

0.12

83,250

d)  

Aggregated information

 

-     Aggregated volume

-     Price

 

 

 

83,250

9,990

e)  

Date of the transaction

2017-10-06

f)   

Place of the transaction

London Stock Exchange, Main Market (XLON)

 

 

**ENDS**

 

For further information, please visit http://rainbowrareearths.com  or contact:

 

Rainbow Rare Earths Ltd

Martin Eales

Tel: +44 (0) 20 3910 4550

St Brides Partners Ltd

Lottie Wadham

Susie Geliher

Tel: +44 (0) 20 7236 1177

Arden Partners plc

William Vandyk

Benjamin Cryer

Tel: +44 (0) 20 7614 5900

Hannam & Partners (Advisory) LLP

Neil Passmore

Ben Newman-Sanders

Tel: +44 (0) 20 7907 8500

 

 

Notes to Editors:

 

Rainbow's focus is the Gakara Project in Burundi, one of the highest-grade (47%-67% Total Rare Earth Oxide) rare earths projects globally.  The Company has raised US$8 million to fast-track the fully permitted Gakara Project to production ahead of targeted first sales of concentrate by the end of 2017.  Rainbow has a ten-year distribution and offtake agreement with multinational thyssenkrupp Raw Materials secured for the sale of at least 5,000 tpa of concentrate produced.  The Gakara basket is weighted heavily towards the magnet rare earths, including neodymium and praseodymium, which are driving demand and account for 70% of annual global REE sales due to their use in vital components in motors, generators, wind turbines, and electric vehicles.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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