Last checked at 30 Jun 2020 11:29
FOR IMMEDIATE RELEASE
30 June 2020
Rainbow Rare Earths Limited
("Rainbow" or the "Company") (LSE: RBW)
Director/PDMR Shareholding
The Company announces that Adonis Pouroulis, Non-Exectuive Chairman, has acquired 1,329,186 ordinary shares of no par value ("Ordinary Shares") from Shawn McCormick, Non-Executive Director, at a price of 3 pence per share.
As a result of this transaction the beneficial ownership of Adonis Pouroulis and Shawn McCormick in the Ordinary Shares of the Company are as follows:
Total shares held prior to transaction | Total shares held post transaction | |||
No | % | No | % | |
Adonis Pouroulis1 | 75,149,678 | 17.8% | 76,478,864 | 18.1% |
Shawn McCormick1 | 10,645,757 | 2.5% | 9,316,571 | 2.2% |
1. Shares held via a discretionary trust
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
(a) | Full name of person Dealing | Adonis Pouroulis | ||||
2. | Reason for notification | |||||
(a) | Position/status | Non-Executive Chairman | ||||
(b) | Initial notification/ Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
(a) | Name of entity | 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 | Ordinary Shares of no par value each | ||||
(b) | Identification code | GG00BD59ZW98 | ||||
(c) | Nature of the transaction | Purchase of Ordinary Shares | ||||
(d) | Price(s) and volume(s) |
| ||||
(e) | Aggregated information: - Aggregated volume - Price |
N/A single transaction | ||||
(f) | Date of transaction | 30 June 2020 | ||||
(g) | Place of transaction | Outside a Trading Venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
(a) | Full name of person Dealing | Shawn McCormick | ||||
2. | Reason for notification | |||||
(a) | Position/status | Non-Executive Director | ||||
(b) | Initial notification/ Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
(a) | Name of entity | 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 | Ordinary Shares of no par value each | ||||
(b) | Identification code | GG00BD59ZW98 | ||||
(c) | Nature of the transaction | Sale of Ordinary Shares | ||||
(d) | Price(s) and volume(s) |
| ||||
(e) | Aggregated information: - Aggregated volume - Price |
N/A single transaction | ||||
(f) | Date of transaction | 30 June 2020 | ||||
(g) | Place of transaction | Outside a Trading Venue | ||||
**ENDS**
For further information, please contact
Rainbow Rare Earths Ltd | Company | George Bennett Pete Gardner | +27 82 652 8526 +44 (0) 20 3910 4551 |
SP Angel Corporate Finance LLP | Joint Broker | Ewan Leggat Charlie Bouverat | +44 (0) 20 3470 0470 |
Turner Pope Investments | Joint Broker | Andy Thacker Zoe Alexander | +44 (0) 20 3657 0050 |