REG - Rainbow Rare Earths - Director/PDMR Shareholding

Rainbow Rare EarthsAnnouncement

10/02/2023 07:30

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RNS Number : 5663P  Rainbow Rare Earths Limited  10 February 2023

10 February 2023

Rainbow Rare Earths Limited

("Rainbow" or "the Company")

LSE: RBW

 

Director/PDMR Shareholding

Rainbow Rare Earths Ltd announces that Adonis Pouroulis, the Non-Executive
Chairman and Person Discharging Managerial Responsibility ("PDMR") of the
Company, has notified Rainbow of the transfer of shares beneficially held on
behalf of Pella Ventures Limited (of which Adonis Pouroulis is the ultimate
beneficial owner) by:

·    Huntress (CI) Nominees Limited to Sanlam Private Wealth (of which
custody is held at Citi Bank Securities - Luxembourg) for the benefit of Pella
Ventures Limited; and

·    Sanlam Private Wealth (of which custody is held at Citi Bank
Securities - Luxembourg) to Vidacos Nominees Limited (a nominee company of
Sanlam Private Wealth) for the benefit of Adonis Pouroulis.

The net effect of these transactions leaves the overall beneficial holding of
Adonis Pouroulis in the shares of the Company unchanged.

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Adonis Pouroulis
 2   Reason for the notification
 a)  Position/status                                              Director
 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  Ordinary shares of no par value each

     Identification code

                                                                  GG00BD59ZW98
 b)  Nature of the transaction                                    Transfer of ordinary shares of no par value from Huntress (CI) Nominees

                                                            Limited to Sanlam Private Wealth Limited (custodied at Citi Bank Securities -
                                                                  Luxembourg).  The shares remain beneficially owned on behalf of Adonis
                                                                  Pouroulis.
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)

                                                            £0.1225   46,084,035 - Disposed by Huntress (CI) Nominees Limited
                                                                  £0.1225   46,084,035 - Purchased by Citi Bank Securities - Luxembourg
 d)  Aggregated information

     Aggregated volume                                            92,168,070

     -      Price                                                 £11,290,588.60

 e)  Date of the transaction                                      1(st) February 2023

 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

 

Aggregated volume

 

-      Price

 

 

 

92,168,070

 

£11,290,588.60

e)

Date of the transaction

 

1(st) February 2023

 

f)

Place of the transaction

Outside of a trading venue

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Adonis Pouroulis
 2   Reason for the notification
 a)  Position/status                                              Director
 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  Ordinary shares of no par value each

     Identification code

                                                                  GG00BD59ZW98
 b)  Nature of the transaction                                    Transfer of ordinary shares of no par value from Sanlam Private Wealth Limited

                                                            (custodied at Citi Bank Securities - Luxembourg) to Vidacos Nominees
                                                                  Limited.  The shares remain beneficially owned on behalf of Adonis Pouroulis.
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)

                                                            £0.1225   43,105,436 - Disposed by Citi Bank Securities - Luxembourg
                                                                  £0.1225   43,105,436 - Purchased by Vidacos Nominees Limited
 d)  Aggregated information

     Aggregated volume                                            86,210,872

     -      Price                                                 £10,560,831.80

 e)  Date of the transaction                                      7(th) February 2023

 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

 

Aggregated volume

 

-      Price

 

 

 

86,210,872

 

£10,560,831.80

e)

Date of the transaction

 

7(th) February 2023

 

f)

Place of the transaction

Outside of a trading venue

 

**ENDS**

 

For further information, please contact:

 

 Rainbow Rare Earths Ltd         Company  George Bennett     +27 82 652 8526

                                          Pete Gardner
 SP Angel Corporate Finance LLP  Broker   Ewan Leggat        +44 (0) 20 3470 0470

                                          Charlie Bouverat
 Berenberg                       Broker   Matthew Armitt     +44 (0) 20 3207 7800

                                          Jennifer Lee
 Tavistock Communications        PR/IR    Charles Vivian     +44 (0) 20 7920 3150

                                          Tara Vivian-Neal   rainbowrareearths@tavistock.co.uk

 

Notes to Editors:

Rainbow's strategy is to identify near-term, secondary rare earths production
opportunities. Meeting escalating demand for critical minerals needed for
global decarbonisation, we are focused on producing the magnet rare earth
metals neodymium and praseodymium ("NdPr"), dysprosium and terbium. With our
strong operating experience, proven project development experience, unique
intellectual property and diversified portfolio, Rainbow will develop a
responsible rare earths supply chain to drive the green energy transition.

The Phalaborwa Rare Earths Project, located in South Africa, comprises an
Inferred Mineral Resource Estimate of 30.7Mt at 0.43% TREO contained within
unconsolidated gypsum stacks derived from historic phosphate hard rock mining.
High value NdPr oxide represents 29.1% of the total contained rare earth
oxides, with economic Dysprosium and Terbium oxide credits enhancing the
overall value of the rare earth basket in the stacks. The rare earths are
contained in chemical form in the gypsum stacks, which allows high value
separated rare earth oxides to be produced in a single processing plant at
site with lower operating costs than a typical rare earth mineral project.

 

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