Deutsche Bank today announced its appointment as sponsored depositary bank for the non-capital raising Level I American Depositary Receipt (ADR) program of Rare Earth Minerals Plc (Rare Earth).
Rare Earth (OTC: REMMY) is a mineral resource development company. Its strategy is to develop a global portfolio of exploration and producing assets through direct and indirect investments. To this end it has acquired stakes in strategically located lithium and rare earth projects. Its main investment is the Sonora Lithium Project in Northern Mexico. The company also has a conditional long–term lithium hydroxide supply agreement. Rare Earth is listed on the Alternative Investment Market of the London Stock Exchange, with its head office in London, England.*
“We are pleased to act as depositary bank for Rare Earth Minerals Plc’s ADR program,” said Jose Sicilia, Head of Depositary Receipts, Institutional Cash & Securities Services. “We look forward to providing this client with the highest level of service for their newly-launched program."
Deutsche Bank’s Depositary Receipts team is part of the Issuer Services business within the Bank’s Institutional Cash & Securities Services unit. In addition to specializing in administering cross-border equity structures such as American and global depositary receipts and global registered shares, Issuer Services provides corporates, financial institutions, hedge funds and supranational agencies around the world with trustee, agency, escrow and related services. The Bank offers a very broad range of services for diverse products, from complex securitizations and project finance to syndicated loans, debt exchanges and restructurings.