FOR IMMEDIATE RELEASE
29 October 2019
Rainbow Rare Earths Limited
("Rainbow" or the "Company")
(LSE: RBW)
CEO and Chairman acquire shares
The Company announces that George Bennett, CEO, and Adonis Pouroulis, Chairman, both Directors of the Company, have acquired 5,464,481 additional ordinary shares of no par value each, ("Ordinary Shares") in the Company at price of 3 pence per share.
As a result of these transactions, their combined interests now account for 27.48% of the issued share capital, and underline their commitment to, and confidence in, the Company and the Gakara project as it progresses with its plans to develop the resource, with a view to building a much larger bulk mining operation.
For further information, please contact:
Rainbow Rare Earths Ltd |
Company |
George Bennett Jim Wynn |
+27 82 652 8526 +44 (0) 20 3910 4551 |
Turner Pope Investments |
Broker |
Andy Thacker Zoe Alexander |
+44 (0) 20 3657 0050 |
St Brides Partners Ltd |
IR and PR |
Priit Piip |
+44 (0) 20 7236 1177 |
1. |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
George Bennett |
2. |
Reason for the notification |
a) |
Position/status |
Chief Executive Officer |
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 GG00BD59ZW98 |
b) |
Nature of the transaction |
acquisition of Ordinary Shares of no par value |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
£0.03 |
5,464,481 |
d) |
Aggregated information - Aggregated volume - Price |
Single transaction |
e) |
Date of the transaction |
2019-10-28 |
f) |
Place of the transaction |
Outside of a trading venue |
1. |
Details of the person discharging managerial responsibilities / person closely associated |
a) |
Name |
Adonis Pouroulis |
2. |
Reason for the 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 |
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 GG00BD59ZW98 |
b) |
Nature of the transaction |
acquisition of Ordinary Shares of no par value |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
£0.03 |
5,464,481 |
d) |
Aggregated information - Aggregated volume - Price |
Single transaction |
e) |
Date of the transaction |
2019-10-28 |
f) |
Place of the transaction |
Outside of a trading venue |
