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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Rainbow Rare Earths Limited | LSE:RBW | London | Ordinary Share | GG00BD59ZW98 | ORD NPV |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.20 | 2.08% | 9.80 | 9.60 | 10.00 | 9.85 | 9.75 | 9.85 | 348,861 | 13:04:20 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Chem,fertlizer Minrl Mng,nec | 0 | -11.98M | -0.0192 | -5.10 | 61.22M |
From Apr 2019 to Apr 2024
TIDMRBW
RNS Number : 2386X
Rainbow Rare Earths Limited
08 August 2018
8 August 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN RAINBOW RARE EARTHS LIMITED OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF RAINBOW RARE EARTHS LIMITED.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.
FOR IMMEDIATE RELEASE
8 August 2018
Rainbow Rare Earths Limited
("Rainbow" or the "Company")
Result of Placing
Further to the announcement made earlier today, Rainbow is pleased to announce a conditional placing (the "Placing") and TechMet Subscription (the "TechMet Subscription") of 13,146,873 new ordinary shares (the "New Ordinary Shares") to raise USD$2 million (before expenses) with new and existing shareholders at an Issue Price of 12 pence per New Ordinary Shares (the "Placing Price"). The Placing Price represents a discount of approximately 3 per cent. to the closing middle market price of 12.38 pence per Existing Ordinary Share on 7 August 2018, the last business day before the announcement of the Placing.
Application will be made for the New Ordinary Shares to be admitted to the Official List and to trading with effect from 16 August 2018.
Total voting rights
Following the issue of the New Ordinary Shares the Company will have 187,907,345 Ordinary Shares in issue.
The above figure of 187,907,345 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
Capitalised terms used in this Announcement shall have the meanings given to such terms in the Company's announcement this morning.
Participation in the Placing by the Directors/PDMRs
Certain of the Directors/PDMRs have, in aggregate, subscribed for a total of 3,346,874 New Ordinary Shares. The participation of certain of the Directors in the Placing is detailed below.
Hot Features
Premium
Director Number of New Holding of Ordinary Ordinary Share
Ordinary Shares Shares following holding as a
subscribed for subscription percentage of
enlarged share
capital
Adonis Pouroulis 2,496,917 47,848,861 25.46%
----------------- -------------------- ----------------
Robert Sinclair 291,624 4,262,870 2.27%
----------------- -------------------- ----------------
Atul Bali 416,667 1,569,105 0.84%
----------------- -------------------- ----------------
Martin Eales 83,333 2,340,632 1.25%
----------------- -------------------- ----------------
Jim Wynn 58,333 177,493 0.09%
----------------- -------------------- ----------------
For further information, please contact:
Rainbow Rare Earths Ltd Martin Eales Tel: +44 (0) 20 3910
4550
Arden Partners plc Paul Shackleton Tel: +44 (0) 20 7614
Benjamin Cryer 5900
---------------- ---------------------
St Brides Partners Ltd Lottie Wadham Tel: +44 (0) 20 7236
Susie Geliher 1177
---------------- ---------------------
The notifications below, made in accordance with the requirement of the Market Abuse Regulation, provide further detail in relation to the Director participation in the Placing.
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 Ordinary Shares of No Par
instrument, type of instrument Value
Identification code GG00BD59ZW98
------------------------------------------ -------------------------------
b) Nature of the transaction Purchase of Shares of No
Par Value
------------------------------------------ -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------------ --------------- --------------
GBP0.12 3,330,250
-------------------------------------------------------------------- --------------
d) Aggregated information Single transaction
* Aggregated volume
* Price
------------------------------------------ -------------------------------
e) Date of the transaction 2018-08-08
------------------------------------------ -------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------------------ -------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Robert Sinclair
------------------------------------------ -------------------------------
2. Reason for the 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 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 Ordinary Shares of No Par
instrument, type of instrument Value
Identification code GG00BD59ZW98
------------------------------------------ -------------------------------
b) Nature of the transaction Purchase of Shares of No
Par Value
------------------------------------------ -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------------ --------------- --------------
GBP0.12 291,624
-------------------------------------------------------------------- --------------
d) Aggregated information Single transaction
* Aggregated volume
* Price
------------------------------------------ -------------------------------
e) Date of the transaction 2018-08-08
------------------------------------------ -------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------------------ -------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Atul Bali
------------------------------------------ -------------------------------
2. Reason for the 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 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 Ordinary Shares of No Par
instrument, type of instrument Value
Identification code GG00BD59ZW98
------------------------------------------ -------------------------------
b) Nature of the transaction Purchase of Shares of No
Par Value
------------------------------------------ -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------------ --------------- --------------
GBP0.12 416,667
-------------------------------------------------------------------- --------------
d) Aggregated information Single transaction
* Aggregated volume
* Price
------------------------------------------ -------------------------------
e) Date of the transaction 2018-08-08
------------------------------------------ -------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------------------ -------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Martin Eales
------------------------------------------ -------------------------------
2. Reason for the notification
---------------------------------------------------------------------------
a) Position/status CEO
------------------------------------------ -------------------------------
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 Ordinary Shares of No Par
instrument, type of instrument Value
Identification code GG00BD59ZW98
------------------------------------------ -------------------------------
b) Nature of the transaction Purchase of Shares of No
Par Value
------------------------------------------ -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------------ --------------- --------------
GBP0.12 83,333
-------------------------------------------------------------------- --------------
d) Aggregated information Single transaction
* Aggregated volume
* Price
------------------------------------------ -------------------------------
e) Date of the transaction 2018-08-08
------------------------------------------ -------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------------------ -------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jim Wynn
------------------------------------------ -------------------------------
2. Reason for the notification
---------------------------------------------------------------------------
a) Position/status CFO
------------------------------------------ -------------------------------
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 Ordinary Shares of No Par
instrument, type of instrument Value
Identification code GG00BD59ZW98
------------------------------------------ -------------------------------
b) Nature of the transaction Purchase of Shares of No
Par Value
------------------------------------------ -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------------ --------------- --------------
GBP0.12 58,333
-------------------------------------------------------------------- --------------
d) Aggregated information Single transaction
* Aggregated volume
* Price
------------------------------------------ -------------------------------
e) Date of the transaction 2018-08-08
------------------------------------------ -------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------------------ -------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
IOEBXGDISUGBGII
(END) Dow Jones Newswires
August 08, 2018 10:11 ET (14:11 GMT)
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