Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
Pursuant to the presumptions of concertedness in the Code, both Liwathon and Linley are presumed to be acting in concert with JRS and Ruskin (all of them together, the "Rowland Concert Party") and as a result of it acquiring the First Tranche Shares, the Rowland Concert Party's aggregate shareholding in the Company increased from 32.99% to 33.67% which, absent any dispensation or waiver granted by the Panel, would require the Rowland Concert Party to make a mandatory offer for the Company pursuant to rule 9.1(b) of the Code ("Mandatory Offer").
Through a series of share trades carried out by Linley's stockbroker on its behalf in the market between 12 August and 13 September 2022, Linley sold all of the Conversion Shares. The aggregate interest in the Company's shares held by the Rowland Concert Party therefore remains at 32.99%.
No takeover yet!
Roy29, to be honest I cancelled my limited time buy order for 50M at £10K, as I could see this going lower! My £2K (10M) is a FOMO buy. Unfortunately this will go lower, purely based on the current **** state of the markets! GLA