Rainbow Rare Earths Limited PDMR Holding (9610S)

TIDMRBW

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            Ordinary Shares of 
                    financial instrument,           No Par Value 
                     type of instrument 
 
                     Identification code            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               83,250 
                                                     9,990 
 
               *    Price 
 -----------------------------------------------  ------------------------- 
      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   Martin Eales          Tel: +44 (0) 
  Ltd                                         20 3910 4550 
 St Brides Partners    Lottie Wadham         Tel: +44 (0) 
  Ltd                   Susie Geliher         20 7236 1177 
 Arden Partners plc    William Vandyk        Tel: +44 (0) 
                        Benjamin Cryer        20 7614 5900 
 Hannam & Partners     Neil Passmore         Tel: +44 (0) 
  (Advisory) LLP        Ben Newman-Sanders    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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October 06, 2017 07:04 ET (11:04 GMT)