Rainbow Rare Earths Limited Director/PDMR Shareholding (5477K)
29 Agosto 2023 - 1:00AM
UK Regulatory
TIDMRBW
RNS Number : 5477K
Rainbow Rare Earths Limited
29 August 2023
29 August 2023
Rainbow Rare Earths Limited
("Rainbow" or "the Company")
LSE: RBW
Director/PDMR Shareholding
Rainbow Rare Earths Ltd announces that Adonis Pouroulis, a
Director and Person Discharging Managerial Responsibility ('PDMR')
of the Company, has effected a share transaction, the purpose of
which is to register shares beneficially held on behalf of Adonis
Pouroulis to Sanlam Private Wealth.
The net effect of this transaction 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
Details of the person discharging managerial responsibilities/person
1 closely associated
a) Name Adonis Pouroulis
---------------------------- -----------------------------------------
Reason for the notification
2
-----------------------------------------------------------------------
a) Position/status Director
---------------------------- -----------------------------------------
b) Initial notification/ Initial Notification
Amendment
---------------------------- -----------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Rainbow Rare Earths Limited
---------------------------- -----------------------------------------
b) LEI 213800HONYSAXTG6KS11
---------------------------- -----------------------------------------
Details of the transaction(s): section to be repeated for
4 (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 no par value
financial instrument,
type of instrument
Identification code GG00BD59ZW98
---------------------------- -----------------------------------------
b) Nature of the transaction Transfer of ordinary shares of no par
value to Sanlam Private Wealth. The
shares remain beneficially owned on
behalf of Adonis Pouroulis.
---------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.1365 5,602,357 - Disposed by
Pella Ventures Limited
GBP0.1365 5,602,357 - Purchased by
Sanlam Private Wealth
-------------------------
---------------------------- -----------------------------------------
d) Aggregated information
Aggregated volume 11,204,714
* Price GBP1,521,000
---------------------------- -----------------------------------------
e) Date of the transaction 8 August 2023
---------------------------- -----------------------------------------
f) Place of the transaction Outside of a trading venue
---------------------------- -----------------------------------------
**ENDS**
For further information, please contact:
Rainbow Rare Earths George Bennett
Ltd Company Pete Gardner +27 82 652 8526
Cathy Malins +44 7876 796 629
(IR) cathym@rainbowrareearths.com
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 Rare Earths aims to be a forerunner in the establishment
of an independent and ethical supply chain of the rare earth
elements that are driving the green energy transition. It is doing
this successfully via the identification and development of
secondary rare earth deposits that can be brought into production
quicker and at a lower cost than traditional hard rock mining
projects, with a focus on the permanent magnet rare earth elements
neodymium and praseodymium, dysprosium and terbium.
The Company is focused on the development of the Phalaborwa Rare
Earths Project in South Africa and the earlier stage Uberaba
Project in Brazil. Both projects entail the recovery of rare earths
from phosphogypsum stacks that occur as the by-product of
phosphoric acid production, with the original source rock for both
deposits being a hardrock carbonatite. Rainbow will use a
proprietary separation technique developed by and in conjunction
with its partner K-Technologies, Inc., which simplifies the process
of producing separated rare earth oxides (versus traditional
solvent extraction), leading to cost benefits, as well as being
more environmentally friendly.
The Phalaborwa Preliminary Economic Assessment has confirmed
strong base line economics for the project, which has a base case
NPV(10) of US$627 million [1] , an average EBITDA operating margin
of 75% and a payback period of < two years. Pilot plant
operations commenced in 2023, with the project expected to reach
commercial production in 2026, just five years after work began on
the project by Rainbow.
More information on the company is available at
www.rainbowrareearths.com .
[1] Net present value using a 10% forward discount rate
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END
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