Launch of American Depository Receipt Program

RNS Number : 4613I

Rare Earth Minerals PLC

09 December 2015

 

Rare Earth Minerals Plc.

("Rare Earth Minerals", "REM" or "the Company")

Launch of Sponsored Level 1 American Depositary Receipt Program

Rare Earth Minerals Plc (AIM: REM) is pleased to announce it has arranged for the quotation of its American Depositary Receipts ("ADRs") on the OTC platform in the United States via a sponsored Level 1 ADR program. The Company's ADRs will represent 1 ADR for every 500 ordinary REM AIM-listed shares. REM will continue to trade under the symbol "REM" on AIM.

ADRs enable qualifying non‐US companies to have direct exposure to the US investment community and will complement REM's existing primary listing on AIM. REM has today filed the required registration statement on Form F-6 with the US Securities and Exchange Commission. A copy of the Form F-6 will be available shortly on the Company website at www.rareearthmineralsplc.com. Trading in the ADR's is anticipated to occur with 2 weeks and the Company will update shareholders when this occurs.

REM Chief Executive Officer, Kiran Morzaria, said that: "With our principle commercial focus being on the Sonora Lithium Project in Northern Mexico and the increased US interest in REM and this project, we recognise that it is important to afford institutional, high-net-worth and retail investors in North America a seamless opportunity to invest in REM. A sponsored Level 1 ADR program will provide the opportunity for these investors to trade conveniently and efficiently in their normal exchange trading hours."

Deutsche Bank has been appointed as the exclusive Depositary Bank for REM's ADR program.

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For further information please contact: 

Rare Earth Minerals plc                                                                          [phone]

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)                                                [phone]

James Joyce

Mark Leonard

Square1 Consulting                                                                                 [phone]

David Bick

Mark Longson             

 

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