Rainbow Rare Earths Limited Director/PDMR Shareholding (3996D)

TIDMRBW

RNS Number : 3996D

Rainbow Rare Earths Limited

25 June 2019

Rainbow Rare Earths Limited

("Rainbow" or the "Company")

Director/PDMR Shareholding

Pella Ventures Limited, Rainbow's largest shareholder, in which Chairman of the Company Adonis Pouroulis has a beneficial interest, has today transferred in 500,000 shares of the Company at 10p per Ordinary Share relating to a prior agreement. Following this transaction the Trustees of the Zeus Settlement have been notified by the Directors of Pella Ventures Limited of an oversight in which certain transfers were effected in 2018 and not notified to the Trustees. The updated beneficial interest for Adonis Pouroulis is now 47,217,287 Ordinary Shares, representing 21.59 per cent. of the issued share capital of the Company.

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 
                            Benjamin Cryer     7614 5900 
                          -----------------  ---------------- 
 St Brides Partners Ltd    Priit Piip         Tel: +44 (0) 20 
                            Isabel de Salis    7236 1177 
                          -----------------  ---------------- 
 
 
 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                   Sale and Purchase of Shares 
                                                         of No Par Value 
           ------------------------------------------  --------------------------------- 
      c)    Price(s) and volume(s)                      Price(s)          Volume(s) 
           ------------------------------------------  ----------------  --------------- 
   GBP0.10                                                                1,126,016 
  ---------------------------------------------------------------------  --------------- 
      d)               Aggregated information 
 
                         *    Aggregated volume           Sale 1,626,016 shares at 
                                                          10p 
                                                          Purchase 500,000 shares at 
                         *    Price                       10p 
           ------------------------------------------  --------------------------------- 
      e)    Date of the transaction                     Sale Transactions 31 January 
                                                         2018 
                                                         Purchase Transaction 25 June 
                                                         2019 
           ------------------------------------------  --------------------------------- 
      f)    Place of the transaction                    Outside of a trading venue 
           ------------------------------------------  --------------------------------- 
 

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June 25, 2019 12:10 ET (16:10 GMT)