Director/PDMR Shareholding

RNS Number : 5464R

Rainbow Rare Earths Limited

30 June 2020

 

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)	Prices(s) Volume(s) 3 pence 1,329,186
(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)	Prices(s) Volume(s) 3 pence 1,329,186
(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	[phone] [phone]
SP Angel Corporate Finance LLP	Joint Broker	Ewan Leggat Charlie Bouverat	[phone]
Turner Pope Investments	Joint Broker	Andy Thacker Zoe Alexander	[phone]

 

END

 

 

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