TIDMRBW

RNS Number : 7323O

Rainbow Rare Earths Limited

05 October 2023

5 October 2023

Rainbow Rare Earths Limited

("Rainbow" or "the Company")

LSE: RBW

Admission of First Tranche of Placing Shares to Trading

Rainbow Rare Earths is pleased to announce that further to the private placement to raise GBP4.5 million, as announced on 27 September 2023 (the "Placing"), the first tranche of 25,786,541 Ordinary Shares in the Company has been admitted to the Official List (by way of a Standard Listing) and to trading on the London Stock Exchange Plc's Main Market for listed securities. These shares rank pari passu with the existing Ordinary Shares.

The Company's number of Ordinary Shares in issue has therefore increased to 624,645,196 and this is the figure that may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure, Guidance and Transparency Rules.

The admission of the second tranche of Ordinary Shares in the Company, comprising 4,213,459 Ordinary Shares which will be issued to Adonis Pouroulis, is subject to the approval of shareholders at the AGM to be held in November 2023.

Notification of Major Shareholdings

Further to the increase in the Company's share capital, the following changes in major shareholdings are notifiable:

 
 Name                   No. of Ordinary      % interest    No. of Ordinary            % interest 
                            Shares held     in Ordinary        Shares held           in Ordinary 
                           prior to the     Shares held        immediately    Shares immediately 
                                Placing    prior to the          following             following 
                                                Placing          Admission             Admission 
                                                              of the first          of the first 
                                                                tranche of            tranche of 
                                                           Ordinary Shares       Ordinary Shares 
 Adonis Pouroulis(1)         84,108,870          14.04%         84,108,870                13.47% 
                       ----------------  --------------  -----------------  -------------------- 
 TechMet Limited(2)          71,618,369          11.96%         75,206,112                12.04% 
                       ----------------  --------------  -----------------  -------------------- 
 Caden Holdings              28,753,578           4.80%         36,967,805                 5.92% 
                       ----------------  --------------  -----------------  -------------------- 
 George Bennett(3)           36,799,683           6.14%         37,347,298                 5.98% 
                       ----------------  --------------  -----------------  -------------------- 
 

1. Adonis Pouroulis' holding includes shares held by Pella Ventures Limited, which is beneficially owned by Adonis Pouroulis. Mr Pouroulis' holding will revert to 14.04% of the Company's issued share capital on admission of the second tranche of Ordinary Shares, which are subject to shareholder approval.

2. TechMet Limited's shareholding will revert to 11.96% of the Company's issued share capital on the admission of the second tranche of Ordinary Shares, which are subject to shareholder approval.

3. George Bennett's holding includes shares held by Pipestone Capital Inc, which is beneficially owned by George Bennett.

PDMR Notification

Further to the increase in the Company's share capital, the following changes in the person discharging managerial responsibility ("PDMR") holdings are notifiable:

 
 Name              No. of Ordinary      % interest    No. of Ordinary            % interest 
                       Shares held     in Ordinary        Shares held           in Ordinary 
                      prior to the     Shares held        immediately    Shares immediately 
                           Placing    prior to the          following             following 
                                           Placing          Admission             Admission 
                                                         of the first          of the first 
                                                           tranche of            tranche of 
                                                      Ordinary Shares       Ordinary Shares 
 Darryll Castle                  -               -            821,422                 0.13% 
                  ----------------  --------------  -----------------  -------------------- 
 Pete Gardner              400,000           0.07%            618,522                 0.10% 
                  ----------------  --------------  -----------------  -------------------- 
 

Further disclosures as required for the notification of a major shareholding in the Company and for PDMRs are included in the Appendix to this announcement.

For further information, please contact:

 
 Rainbow Rare Earths                    George Bennett 
  Ltd                        Company     Pete Gardner        +27 82 652 8526 
  IR         Cathy Malins                                    +44 7876 796 629 
                                                              cathym@rainbowrareearths.com 
                                        Matthew Armitt 
                                         Jennifer Lee 
 Berenberg                   Broker      Detlir Elezi        +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:

About Rainbow:

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 and environmental benefits.

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 less than two years. Pilot plant operations will commence in 2023, with the project expected to reach commercial production in 2026, just five years after work began on the project by Rainbow.

Appendix

TR-1: S tandard form for notification of major holdings

 
 NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and 
  to the FCA in Microsoft Word format if possible) (i) 
 
 1a. Identity of the issuer or the                                    Rainbow Rare Earths Limited 
  underlying issuer of existing shares 
  to which voting rights are attached 
  (ii) : 
                                                             -------------------------------------------- 
 1b. Please indicate if the issuer is a non-UK issuer (please mark with 
  an "X" if appropriate) 
 Non-UK issuer                                                                                         X 
                                                                                                     ---- 
 2. Reason for the notification (please mark the appropriate box or boxes 
  with an "X") 
 An acquisition or disposal of voting rights 
                                                                                                     ---- 
 An acquisition or disposal of financial instruments                                                   X 
                                                                                                     ---- 
 An event changing the breakdown of voting rights 
                                                                                                     ---- 
 Other (please specify) (iii) : 
                                                                                                     ---- 
 3. Details of person subject to the notification obligation (iv) 
 Name                                                         Adonis Pouroulis 
 City and country of registered office 
  (if applicable) 
 4. Full name of shareholder(s) (if different from 3.) (v) 
 Name 
                                                             -------------------------------------------- 
 City and country of registered office 
  (if applicable) 
                                                             -------------------------------------------- 
 5. Date on which the threshold was                           5.10.2023 
  crossed or reached (vi) : 
                                                             -------------------------------------------- 
 6. Date on which issuer notified                             5.10.2023 
  (DD/MM/YYYY): 
                                                             -------------------------------------------- 
 7. Total positions of person(s) subject to the notification obligation 
                              % of voting       % of voting rights    Total of both   Total number 
                            rights attached      through financial     in % (8.A +     of voting rights 
                            to shares (total        instruments            8.B)        held in issuer 
                                of 8. A)           (total of 8.B                       (8.A + 8.B) 
                                                    1 + 8.B 2)                         (vii) 
                          ------------------  ---------------------  --------------  -------------------- 
 Resulting situation 
  on the date 
  on which threshold 
  was crossed 
  or reached               13.47                                                      84,108,870 
                          ------------------  ---------------------  --------------  -------------------- 
 Position of 
  previous notification 
  (if 
  applicable)              14.04 
                          ------------------  ---------------------  --------------  -------------------- 
 
 
 
 8. Notified details of the resulting situation on the date on which 
  the threshold was crossed or reached (viii) 
 A: Voting rights attached to shares 
 Class/type of        Number of voting rights (ix)                              % of voting rights 
 shares 
 ISIN code (if 
 possible) 
                                Direct                      Indirect                   Direct             Indirect 
                                (DTR5.1)                    (DTR5.2.1)                (DTR5.1)            (DTR5.2.1) 
                                                   -------------------------- 
 GG00BD59ZW98         84,108,870                                                13.47 
                     ----------------------------  --------------------------  ---------------------  ---------------- 
 
 
 SUBTOTAL 8. A                              84,108,870                                          13.47 
                     --------------------------------------------------------  --------------------------------------- 
 
 B 1: Financial Instruments according to DTR5.3.1R (1) (a) 
 Type of financial    Expiration     Exercise/                       Number of voting                  % of voting 
  instrument           date           Conversion Period (xi)          rights that may                   rights 
                       (x)                                            be acquired if 
                                                                      the instrument 
                                                                      is 
                                                                      exercised/converted. 
                     -------------  ------------------------------  --------------------------------  ---------------- 
 
 
 
                                     SUBTOTAL 8. B 1 
                                    ------------------------------  --------------------------------  ---------------- 
 
 B 2: Financial Instruments with similar economic effect according to 
  DTR5.3.1R (1) (b) 
 Type of         Expiration          Exercise/                  Physical or cash        Number of      % of voting 
  financial       date (x)            Conversion                 Settlement (xii)       voting          rights 
  instrument                          Period (xi)                                       rights 
                ------------------  -------------------------  ----------------------  ------------- 
 
 
 
                                                                SUBTOTAL 8.B.2 
                                                               ----------------------  ------------- 
 
 
 
 
 9. Information in relation to the person subject to the notification 
  obligation (please mark the 
  applicable box with an "X") 
 Person subject to the notification obligation is not controlled                        X 
  by any natural person or legal entity and does not control any other 
  undertaking(s) holding directly or indirectly an interest in the 
  (underlying) issuer (xiii) 
 Full chain of controlled undertakings through which the voting rights 
  and/or the 
  financial instruments are effectively held starting with the ultimate 
  controlling natural person or legal entity (please add additional 
  rows as necessary) (xiv) 
    Name (xv)        % of voting rights      % of voting rights       Total of both if 
                       if it equals or        through financial        it equals or is 
                      is higher than the      instruments if it        higher than the 
                     notifiable threshold    equals or is higher     notifiable threshold 
                                             than the notifiable 
                                                  threshold 
                   ----------------------  ---------------------  ------------------------ 
 
 
 
 
 
 
 10. In case of proxy voting, please identify: 
 Name of the proxy holder 
                                           ----------------------------------------------- 
 The number and % of voting rights 
  held 
                                           ----------------------------------------------- 
 The date until which the voting rights 
  will be held 
                                           ----------------------------------------------- 
 
 11. Additional information (xvi) 
 
 
 
 
 Place of completion   Guernsey 
 Date of completion    5.10.2023 
                      ---------- 
 

TR-1: S tandard form for notification of major holdings

 
 NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and 
  to the FCA in Microsoft Word format if possible) (i) 
 
 1a. Identity of the issuer or the                                    Rainbow Rare Earths Limited 
  underlying issuer of existing shares 
  to which voting rights are attached 
  (ii) : 
                                                             -------------------------------------------- 
 1b. Please indicate if the issuer is a non-UK issuer (please mark with 
  an "X" if appropriate) 
 Non-UK issuer                                                                                         X 
                                                                                                     ---- 
 2. Reason for the notification (please mark the appropriate box or boxes 
  with an "X") 
 An acquisition or disposal of voting rights 
                                                                                                     ---- 
 An acquisition or disposal of financial instruments                                                   X 
                                                                                                     ---- 
 An event changing the breakdown of voting rights 
                                                                                                     ---- 
 Other (please specify) (iii) : 
                                                                                                     ---- 
 3. Details of person subject to the notification obligation (iv) 
 Name                                                         TechMet Limited 
 City and country of registered office                        Dublin, Ireland 
  (if applicable) 
 4. Full name of shareholder(s) (if different from 3.) (v) 
 Name 
                                                             -------------------------------------------- 
 City and country of registered office 
  (if applicable) 
                                                             -------------------------------------------- 
 5. Date on which the threshold was                           5.10.2023 
  crossed or reached (vi) : 
                                                             -------------------------------------------- 
 6. Date on which issuer notified                             5.10.2023 
  (DD/MM/YYYY): 
                                                             -------------------------------------------- 
 7. Total positions of person(s) subject to the notification obligation 
                              % of voting       % of voting rights    Total of both   Total number 
                            rights attached      through financial     in % (8.A +     of voting rights 
                            to shares (total        instruments            8.B)        held in issuer 
                                of 8. A)           (total of 8.B                       (8.A + 8.B) 
                                                    1 + 8.B 2)                         (vii) 
                          ------------------  ---------------------  --------------  -------------------- 
 Resulting situation 
  on the date 
  on which threshold 
  was crossed 
  or reached               12.04                                                      75,206,112 
                          ------------------  ---------------------  --------------  -------------------- 
 Position of 
  previous notification 
  (if 
  applicable)              11.96 
                          ------------------  ---------------------  --------------  -------------------- 
 
 
 
 8. Notified details of the resulting situation on the date on which 
  the threshold was crossed or reached (viii) 
 A: Voting rights attached to shares 
 Class/type of             Number of voting rights                       % of voting rights 
  shares                    (ix) 
  ISIN code (if 
  possible) 
                                  Direct                Indirect               Direct             Indirect 
                                 (DTR5.1)              (DTR5.2.1)              (DTR5.1)           (DTR5.2.1) 
                                                 --------------------- 
 GG00BD59ZW98              75,206,112                                    12.04 
                          ---------------------  ---------------------  --------------------  ---------------- 
 
 
 SUBTOTAL 8. 
  A                                        75,206,112                                    12.04 
                          --------------------------------------------  -------------------------------------- 
 
 B 1: Financial Instruments according to DTR5.3.1R (1) (a) 
 Type of financial         Expiration   Exercise/                  Number of voting            % of voting 
  instrument                date         Conversion Period          rights that may             rights 
                            (x)          (xi)                       be acquired if 
                                                                    the instrument 
                                                                    is 
                                                                    exercised/converted. 
                          -----------  -------------------------  --------------------------  ---------------- 
 
 
 
                                        SUBTOTAL 8. B 
                                         1 
                                       -------------------------  --------------------------  ---------------- 
 
 B 2: Financial Instruments with similar economic effect according to 
  DTR5.3.1R (1) (b) 
 Type of financial    Expiration        Exercise/         Physical           Number of         % of voting 
  instrument           date (x)          Conversion        or cash            voting rights     rights 
                                         Period (xi)       Settlement 
                                                           (xii) 
                     ----------------  ----------------  -----------------  ---------------- 
 
 
 
                                                          SUBTOTAL 
                                                           8.B.2 
                                                         -----------------  ---------------- 
 
 
 
 
 9. Information in relation to the person subject to the notification 
  obligation (please mark the 
  applicable box with an "X") 
 Person subject to the notification obligation is not controlled                        X 
  by any natural person or legal entity and does not control any other 
  undertaking(s) holding directly or indirectly an interest in the 
  (underlying) issuer (xiii) 
 Full chain of controlled undertakings through which the voting rights 
  and/or the 
  financial instruments are effectively held starting with the ultimate 
  controlling natural person or legal entity (please add additional 
  rows as necessary) (xiv) 
    Name (xv)        % of voting rights      % of voting rights       Total of both if 
                       if it equals or        through financial        it equals or is 
                      is higher than the      instruments if it        higher than the 
                     notifiable threshold    equals or is higher     notifiable threshold 
                                             than the notifiable 
                                                  threshold 
                   ----------------------  ---------------------  ------------------------ 
 
 
 
 
 
 
 10. In case of proxy voting, please identify: 
 Name of the proxy holder 
                                           ----------------------------------------------- 
 The number and % of voting rights 
  held 
                                           ----------------------------------------------- 
 The date until which the voting rights 
  will be held 
                                           ----------------------------------------------- 
 
 11. Additional information (xvi) 
 
 
 
 
 Place of completion   Ireland 
 Date of completion    5.10.2023 
                      ---------- 
 

TR-1: S tandard form for notification of major holdings

 
 NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and 
  to the FCA in Microsoft Word format if possible) (i) 
 
 1a. Identity of the issuer or the                                    Rainbow Rare Earths Limited 
  underlying issuer of existing shares 
  to which voting rights are attached 
  (ii) : 
                                                             -------------------------------------------- 
 1b. Please indicate if the issuer is a non-UK issuer (please mark with 
  an "X" if appropriate) 
 Non-UK issuer                                                                                         X 
                                                                                                     ---- 
 2. Reason for the notification (please mark the appropriate box or boxes 
  with an "X") 
 An acquisition or disposal of voting rights 
                                                                                                     ---- 
 An acquisition or disposal of financial instruments 
                                                                                                     ---- 
 An event changing the breakdown of voting rights                                                      X 
                                                                                                     ---- 
 Other (please specify) (iii) : 
                                                                                                     ---- 
 3. Details of person subject to the notification obligation (iv) 
 Name                                                         Caden Holdings Limited 
 City and country of registered office                        Gibraltar 
  (if applicable) 
 4. Full name of shareholder(s) (if different from 3.) (v) 
 Name 
                                                             -------------------------------------------- 
 City and country of registered office 
  (if applicable) 
                                                             -------------------------------------------- 
 5. Date on which the threshold was                           5.10.2023 
  crossed or reached (vi) : 
                                                             -------------------------------------------- 
 6. Date on which issuer notified                             5.10.2023 
  (DD/MM/YYYY): 
                                                             -------------------------------------------- 
 7. Total positions of person(s) subject to the notification obligation 
                              % of voting       % of voting rights    Total of both   Total number 
                            rights attached      through financial     in % (8.A +     of voting rights 
                            to shares (total        instruments            8.B)        held in issuer 
                                of 8. A)           (total of 8.B                       (8.A + 8.B) 
                                                    1 + 8.B 2)                         (vii) 
                          ------------------  ---------------------  --------------  -------------------- 
 Resulting situation 
  on the date 
  on which threshold 
  was crossed 
  or reached               5.92                                                       36,967,805 
                          ------------------  ---------------------  --------------  -------------------- 
 Position of 
  previous notification 
  (if 
  applicable)              4.80 
                          ------------------  ---------------------  --------------  -------------------- 
 
 
 
 8. Notified details of the resulting situation on the date on which 
  the threshold was crossed or reached (viii) 
 A: Voting rights attached to shares 
 Class/type of             Number of voting rights                       % of voting rights 
  shares                    (ix) 
  ISIN code (if 
  possible) 
                                  Direct                Indirect               Direct             Indirect 
                                 (DTR5.1)              (DTR5.2.1)              (DTR5.1)           (DTR5.2.1) 
                                                 --------------------- 
 GG00BD59W98               36,967,805                                    5.92 
                          ---------------------  ---------------------  --------------------  ---------------- 
 
 
 SUBTOTAL 8. 
  A                                        36,967,805                                    5.92 
                          --------------------------------------------  -------------------------------------- 
 
 B 1: Financial Instruments according to DTR5.3.1R (1) (a) 
 Type of financial         Expiration   Exercise/                  Number of voting            % of voting 
  instrument                date         Conversion Period          rights that may             rights 
                            (x)          (xi)                       be acquired if 
                                                                    the instrument 
                                                                    is 
                                                                    exercised/converted. 
                          -----------  -------------------------  --------------------------  ---------------- 
 
 
 
                                        SUBTOTAL 8. B 
                                         1 
                                       -------------------------  --------------------------  ---------------- 
 
 B 2: Financial Instruments with similar economic effect according to 
  DTR5.3.1R (1) (b) 
 Type of financial    Expiration        Exercise/         Physical           Number of         % of voting 
  instrument           date (x)          Conversion        or cash            voting rights     rights 
                                         Period (xi)       Settlement 
                                                           (xii) 
                     ----------------  ----------------  -----------------  ---------------- 
 
 
 
                                                          SUBTOTAL 
                                                           8.B.2 
                                                         -----------------  ---------------- 
 
 
 
 
 9. Information in relation to the person subject to the notification 
  obligation (please mark the 
  applicable box with an "X") 
 Person subject to the notification obligation is not controlled                        X 
  by any natural person or legal entity and does not control any other 
  undertaking(s) holding directly or indirectly an interest in the 
  (underlying) issuer (xiii) 
 Full chain of controlled undertakings through which the voting rights 
  and/or the 
  financial instruments are effectively held starting with the ultimate 
  controlling natural person or legal entity (please add additional 
  rows as necessary) (xiv) 
    Name (xv)        % of voting rights      % of voting rights       Total of both if 
                       if it equals or        through financial        it equals or is 
                      is higher than the      instruments if it        higher than the 
                     notifiable threshold    equals or is higher     notifiable threshold 
                                             than the notifiable 
                                                  threshold 
                   ----------------------  ---------------------  ------------------------ 
 
 
 
 
 
 
 10. In case of proxy voting, please identify: 
 Name of the proxy holder 
                                           ----------------------------------------------- 
 The number and % of voting rights 
  held 
                                           ----------------------------------------------- 
 The date until which the voting rights 
  will be held 
                                           ----------------------------------------------- 
 
 11. Additional information (xvi) 
 
 
 
 
 Place of completion   Gibraltar 
 Date of completion    5.10.2023 
                      ---------- 
 

TR-1: S tandard form for notification of major holdings

 
 NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and 
  to the FCA in Microsoft Word format if possible) (i) 
 
 1a. Identity of the issuer or the                                    Rainbow Rare Earths Limited 
  underlying issuer of existing shares 
  to which voting rights are attached 
  (ii) : 
                                                             -------------------------------------------- 
 1b. Please indicate if the issuer is a non-UK issuer (please mark with 
  an "X" if appropriate) 
 Non-UK issuer                                                                                         X 
                                                                                                     ---- 
 2. Reason for the notification (please mark the appropriate box or boxes 
  with an "X") 
 An acquisition or disposal of voting rights 
                                                                                                     ---- 
 An acquisition or disposal of financial instruments                                                   X 
                                                                                                     ---- 
 An event changing the breakdown of voting rights 
                                                                                                     ---- 
 Other (please specify) (iii) : 
                                                                                                     ---- 
 3. Details of person subject to the notification obligation (iv) 
 Name                                                         George Bennett 
 City and country of registered office 
  (if applicable) 
 4. Full name of shareholder(s) (if different from 3.) (v) 
 Name                                                         Pipestone Capital Inc 
                                                             -------------------------------------------- 
 City and country of registered office                        Madeira, Portugal 
  (if applicable) 
                                                             -------------------------------------------- 
 5. Date on which the threshold was                           5.10.2023 
  crossed or reached (vi) : 
                                                             -------------------------------------------- 
 6. Date on which issuer notified                             5.10.2023 
  (DD/MM/YYYY): 
                                                             -------------------------------------------- 
 7. Total positions of person(s) subject to the notification obligation 
                              % of voting       % of voting rights    Total of both   Total number 
                            rights attached      through financial     in % (8.A +     of voting rights 
                            to shares (total        instruments            8.B)        held in issuer 
                                of 8. A)           (total of 8.B                       (8.A + 8.B) 
                                                    1 + 8.B 2)                         (vii) 
                          ------------------  ---------------------  --------------  -------------------- 
 Resulting situation 
  on the date 
  on which threshold 
  was crossed 
  or reached               5.98                                                       37,347,298 
                          ------------------  ---------------------  --------------  -------------------- 
 Position of 
  previous notification 
  (if 
  applicable)              6.14 
                          ------------------  ---------------------  --------------  -------------------- 
 
 
 
 8. Notified details of the resulting situation on the date on which 
  the threshold was crossed or reached (viii) 
 A: Voting rights attached to shares 
 Class/type of             Number of voting rights                       % of voting rights 
  shares                    (ix) 
  ISIN code (if 
  possible) 
                                  Direct                Indirect               Direct             Indirect 
                                 (DTR5.1)              (DTR5.2.1)              (DTR5.1)           (DTR5.2.1) 
                                                 --------------------- 
 GG00BD59ZW98              37,347,298                                    5.98 
                          ---------------------  ---------------------  --------------------  ---------------- 
 
 
 SUBTOTAL 8. 
  A                                        37,347,298                                    5.98 
                          --------------------------------------------  -------------------------------------- 
 
 B 1: Financial Instruments according to DTR5.3.1R (1) (a) 
 Type of financial         Expiration   Exercise/                  Number of voting            % of voting 
  instrument                date         Conversion Period          rights that may             rights 
                            (x)          (xi)                       be acquired if 
                                                                    the instrument 
                                                                    is 
                                                                    exercised/converted. 
                          -----------  -------------------------  --------------------------  ---------------- 
 
 
 
                                        SUBTOTAL 8. B 
                                         1 
                                       -------------------------  --------------------------  ---------------- 
 
 B 2: Financial Instruments with similar economic effect according to 
  DTR5.3.1R (1) (b) 
 Type of financial    Expiration        Exercise/         Physical           Number of         % of voting 
  instrument           date (x)          Conversion        or cash            voting rights     rights 
                                         Period (xi)       Settlement 
                                                           (xii) 
                     ----------------  ----------------  -----------------  ---------------- 
 
 
 
                                                          SUBTOTAL 
                                                           8.B.2 
                                                         -----------------  ---------------- 
 
 
 
 
 9. Information in relation to the person subject to the notification 
  obligation (please mark the 
  applicable box with an "X") 
 Person subject to the notification obligation is not controlled                        X 
  by any natural person or legal entity and does not control any other 
  undertaking(s) holding directly or indirectly an interest in the 
  (underlying) issuer (xiii) 
 Full chain of controlled undertakings through which the voting rights 
  and/or the 
  financial instruments are effectively held starting with the ultimate 
  controlling natural person or legal entity (please add additional 
  rows as necessary) (xiv) 
    Name (xv)        % of voting rights      % of voting rights       Total of both if 
                       if it equals or        through financial        it equals or is 
                      is higher than the      instruments if it        higher than the 
                     notifiable threshold    equals or is higher     notifiable threshold 
                                             than the notifiable 
                                                  threshold 
                   ----------------------  ---------------------  ------------------------ 
 
 
 
 
 
 
 10. In case of proxy voting, please identify: 
 Name of the proxy holder 
                                           ----------------------------------------------- 
 The number and % of voting rights 
  held 
                                           ----------------------------------------------- 
 The date until which the voting rights 
  will be held 
                                           ----------------------------------------------- 
 
 11. Additional information (xvi) 
 
 
 
 
 Place of completion   Portugal 
 Date of completion    5.10.2023 
                      ---------- 
 

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                        Darryll Castle 
     --------------------------  -------------------------------------------- 
      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 
                                   GG00BD59ZW98 
       Identification code 
     --------------------------  -------------------------------------------- 
 b)   Nature of the transaction   Purchase of shares pursuant to a placing. 
     --------------------------  -------------------------------------------- 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
 
                                    GBP0.15    821,422 - Purchased by Fenwood 
                                                Global Ltd 
                                              ------------------------------- 
     --------------------------  -------------------------------------------- 
 d)   Aggregated information 
 
       Aggregated volume            821,422 
 
        *    Price                  GBP123,213.30 
     --------------------------  -------------------------------------------- 
 e)   Date of the transaction     5 October 2023 
     --------------------------  -------------------------------------------- 
 f)   Place of the transaction    Outside of a trading venue 
     --------------------------  -------------------------------------------- 
 

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                         Pete Gardner 
     ---------------------------  ------------------------------------------ 
      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 
                                    GG00BD59ZW98 
       Identification code 
     ---------------------------  ------------------------------------------ 
 b)   Nature of the transaction    Purchase of shares pursuant to a placing 
     ---------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)        Price(s)   Volume(s) 
 
                                     GBP0.15    218,522 - Purchased by Pete 
                                                 Gardner 
                                               ---------------------------- 
     ---------------------------  ------------------------------------------ 
 d)   Aggregated information 
 
       Aggregated volume             218,522 
 
        *    Price                   GBP32,778.30 
     ---------------------------  ------------------------------------------ 
 e)   Date of the transaction      5 October 2023 
     ---------------------------  ------------------------------------------ 
 f)   Place of the transaction     Outside of a trading venue 
     ---------------------------  ------------------------------------------ 
 

[1] Net present value using a 10% forward discount rate

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFSIFMLEDSEDS

(END) Dow Jones Newswires

October 05, 2023 02:00 ET (06:00 GMT)

Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De Abr 2024 a May 2024 Haga Click aquí para más Gráficas Rainbow Rare Earths.
Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De May 2023 a May 2024 Haga Click aquí para más Gráficas Rainbow Rare Earths.