Rainbow Rare Earths Limited PDMR Holding (9610S)
06 October 2017 - 10:04PM
UK Regulatory
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
DSHUNRARBUARRAA
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