Rainbow Rare Earths Limited Exercise of Share Options (8878F)
10 Noviembre 2022 - 01:00AM
UK Regulatory
TIDMRBW
RNS Number : 8878F
Rainbow Rare Earths Limited
10 November 2022
Rainbow Rare Earths Limited
("Rainbow" or the "Company")
(LSE: RBW)
10 November 2022
Exercise of Final Tranche of Share Options held by
the Australian Special Opportunity Fund, LP
Rainbow Rare Earths Ltd announces that the Company has allotted
a total of 2,000,000 new ordinary shares of no par value ('Ordinary
Shares') at a price of 5.28p per share to the Australian Special
Opportunity Fund, LP on receipt by the Company of a valid
notification to exercise share options. This exercise represents
the final share options held by the Australian Special Opportunity
Fund, LP.
The new Ordinary Shares rank pari passu with the Company's
existing issued Ordinary Shares and application has been made for
the Ordinary Shares to be admitted to the Main Market of the London
Stock Exchange. Dealings are expected to commence on 14 November
2022.
The Company's enlarged issued share capital will be 526,405,810
Ordinary Shares. The Company has no treasury shares. This figure of
526,405,810 Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
**ENDS**
For further information, please contact:
Rainbow Rare Earths George Bennett
Ltd Company Pete Gardner +27 82 652 8526
SP Angel Corporate Ewan Leggat
Finance LLP Broker Charlie Bouverat +44 (0) 20 3470 0470
Matthew Armitt
Berenberg Broker Jennifer Lee +44 (0) 20 3207 7800
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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END
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November 10, 2022 02:00 ET (07:00 GMT)
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