Rainbow Rare Earths Limited Director/PDMR Shareholding
06 November 2024 - 8:00AM
RNS Regulatory News
RNS Number : 0809L
Rainbow Rare Earths Limited
06 November 2024
6 November 2024
Rainbow Rare Earths
Limited
("Rainbow" or "the Company")
LSE: RBW
Director/PDMR
Shareholding
Rainbow Rare Earths Ltd announces
that Pete Gardner (CFO), a Person Discharging Managerial
Responsibility ('PDMR') of the Company, has effected a share
transaction, transferring shares previously held into a SIPP and
ISA. The net effect of the transaction is a sale of 112
shares to cover the transaction costs.
For further
information, please contact:
|
Rainbow Rare
Earths Ltd
|
Company
|
George Bennett
Pete Gardner
|
+27 82 652 8526
|
|
|
IR
|
Cathy Malins
|
+44 7876 796 629
cathym@rainbowrareearths.com
|
|
Berenberg
|
Broker
|
Matthew Armitt
Jennifer Lee
|
+44 (0) 20 3207 7800
|
|
Stifel
|
Broker
|
Ashton Clanfield
Varun Talwar
|
+44 20 7710 7600
|
|
Tavistock
Communications
|
PR/IR
|
Charles Vivian
Tara Vivian-Neal
|
+44 (0) 20 7920 3150
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 that occurs as the by-product of
phosphoric acid production, with the original source rock for both
deposits being a hardrock carbonatite.
The Phalaborwa Preliminary Economic Assessment
has confirmed strong base line economics for the project, which has
a base case NPV10 of US$627 million, an average EBITDA operating
margin of 75% and a payback period of < two years.
More information is available at
www.rainbowrareearths.com
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
|
Pete Gardner
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Financial Officer
|
|
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
Identification code
|
Ordinary shares of no par
value
GG00BD59ZW98
|
|
b)
|
Nature of the transaction
|
Disposal and purchase of
shares on transfer to SIPP and ISA
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£0.125
|
560,016 - disposed
|
|
£0.125
|
559,792 - purchased
|
|
|
d)
|
Aggregated information
Aggregated volume
- Price
|
Net sale of 224 shares
£28
|
|
e)
|
Date of the transaction
|
30 October 2024
|
|
f)
|
Place of the
transaction
|
London Stock Exchange
|
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END
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