CEO and Chairman acquire shares

RNS Number : 3947R

Rainbow Rare Earths Limited

29 October 2019

 

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	[phone] [phone]
Turner Pope Investments	Broker	Andy Thacker Zoe Alexander	[phone]
St Brides Partners Ltd	IR and PR	Priit Piip	[phone]

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

 

END

 

 

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