Grant of Share Options

FOR IMMEDIATE RELEASE

24 August 2017

 

Rainbow Rare Earths Ltd (‘Rainbow’ or ‘the Company’)

Grant of Share Options

 

Rainbow, the rare earth element mining company, announces the following grant of options to Non-Executive Directors on 23 August 2017 under its existing share option plan:

 

Name Position Options Granted Exercise Price
Adonis Pouroulis Chairman 500,000 15.00p
Atul Bali Non-Executive Director 500,000 15.00p
Alex Lowrie Non-Executive Director 500,000 15.00p
Shawn McCormick Non-Executive Director 500,000 15.00p
Robert Sinclair Non-Executive Director 500,000 15.00p

 

The exercise price has been set at a significant premium to the current market price and existing options, demonstrating the Board’s strong belief in the future growth of the Company. The options will vest in three equal tranches: one third upon grant, one-third on the first anniversary of grant and one-third on the second anniversary of grant.

 

 

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

 

PDMR
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 each

 

 

 

 

 

 

 

GG00BD59ZW98

b) Nature of the transaction

 

Award of option to purchase ordinary shares of the Company. Following the transaction, Mr. Pouroulis holds 902,000 options to purchase ordinary shares.
c) Price(s) and volume(s)

 

 

Price(s) Volume(s)
n/a 500,000

 

 

d) Aggregated information

 

Aggregated volume

 

–      Price

 

 

 

 

500,000

 

 

n/a

e) Date of the transaction

 

23 August 2017

Note: the Company is not considered in a close period at the time of this transaction.

f) Place of the transaction

 

London Stock Exchange (XLON)

 

 

 

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

 

Atul Bali
2 Reason for the notification

 

a) Position/status

 

PDMR
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 each

 

 

 

 

 

 

 

GG00BD59ZW98

b) Nature of the transaction

 

Award of option to purchase ordinary shares of the Company. Following the transaction, Mr. Bali holds 500,000 options to purchase ordinary shares.
c) Price(s) and volume(s)

 

 

Price(s) Volume(s)
n/a 500,000

 

 

d) Aggregated information

 

Aggregated volume

 

–      Price

 

 

 

 

500,000

 

 

n/a

e) Date of the transaction

 

23 August 2017

Note: the Company is not considered in a close period at the time of this transaction.

f) Place of the transaction

 

London Stock Exchange (XLON)

 

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

 

Alex Lowrie
2 Reason for the notification

 

a) Position/status

 

PDMR
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 each

 

 

 

 

 

 

 

GG00BD59ZW98

b) Nature of the transaction

 

Award of option to purchase ordinary shares of the Company. Following the transaction, Mr. Lowrie holds 500,000 options to purchase ordinary shares.
c) Price(s) and volume(s)

 

 

Price(s) Volume(s)
n/a 500,000

 

 

d) Aggregated information

 

Aggregated volume

 

–      Price

 

 

 

 

500,000

 

 

n/a

e) Date of the transaction

 

23 August 2017

Note: the Company is not considered in a close period at the time of this transaction.

f) Place of the transaction

 

London Stock Exchange (XLON)

 

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

 

Shawn McCormick
2 Reason for the notification

 

a) Position/status

 

PDMR
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 each

 

 

 

 

 

 

 

GG00BD59ZW98

b) Nature of the transaction

 

Award of option to purchase ordinary shares of the Company. Following the transaction, Mr. McCormick holds 850,000 options to purchase ordinary shares.
c) Price(s) and volume(s)

 

 

Price(s) Volume(s)
n/a 500,000

 

 

d) Aggregated information

 

Aggregated volume

 

–      Price

 

 

 

 

500,000

 

 

n/a

e) Date of the transaction

 

23 August 2017

Note: the Company is not considered in a close period at the time of this transaction.

f) Place of the transaction

 

London Stock Exchange (XLON)

 

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

 

Robert Sinclair
2 Reason for the notification

 

a) Position/status

 

PDMR
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 each

 

 

 

 

 

 

 

GG00BD59ZW98

b) Nature of the transaction

 

Award of option to purchase ordinary shares of the Company. Following the transaction, Mr. Sinclair holds 850,000 options to purchase ordinary shares.
c) Price(s) and volume(s)

 

 

Price(s) Volume(s)
n/a 500,000

 

 

d) Aggregated information

 

Aggregated volume

 

–      Price

 

 

 

 

500,000

 

 

n/a

e) Date of the transaction

 

23 August 2017

Note: the Company is not considered in a close period at the time of this transaction.

f) Place of the transaction

 

London Stock Exchange (XLON)

 

**ENDS**

 

For further information, please contact:

 

Rainbow Rare Earths Ltd Martin Eales Tel: +44 (0) 20 7494 8206
St Brides Partners Ltd Lottie Brocklehurst

Susie Geliher

Tel: +44 (0) 20 7236 1177

 

Notes to Editors

 

Rainbow’s focus is the Gakara Project in Burundi, one of the highest-grade (47-67% Total Rare Earth Oxide) rare earths projects globally.  In January 2017, the Company raised US$8 million to fast-track the fully permitted Gakara Project to production ahead of targeted first sales of concentrate by the end of 2017.  Rainbow has a ten-year distribution and offtake agreement with multinational thyssenkrupp Raw Materials secured for the sale of at least 5,000 tpa of concentrate produced.  The Gakara basket is weighted heavily towards the magnet rare earths, including neodymium and praseodymium, which are driving demand and account for 70% of annual global REE sales due to their use in vital components in motors, generators, wind turbines, and electric vehicles.

 

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