Business
Correction: Allotment of new shares
Correction: Allotment of new shares.
About this update from Rainbow Rare Earths Ltd.
[{"type":"text","content":"\n \nRNS Number : 6471V Rainbow Rare Earths Limited 09 April 2019 \n\nFOR IMMEDIATE RELEASE\n9 April 2019\n \nRainbow Rare Earths Ltd ('Rainbow' or 'the Company') (LSE: RBW)\nCorrection: Allotment of new shares \n \n \nThe following amendment has been made to the 'Allotment on new shares' announcement released on 9 April 2019 at 09.00 under RNS No 5002V.\n \nThe Company has allotted a total of 5,132,067 new Ordinary Shares in satisfaction of the second drawdown of US$100k under the facility announced on 28 January 2019 with a fund managed by The Lind Partners LLC. The number originally stated in the previous announcement (RNS No 5002V) is incorrect and should be disregarded. \n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \n \nRainbow announces that the Company has allotted a total of 5,132,067 new ordinary shares of no par value ('Ordinary Shares') in satisfaction of the second drawdown of US$100k under the facility announced on 28 January 2019 with a fund managed by The Lind Partners LLC.\n \nThe new Ordinary Shares rank pari passu with the Company's existing issued Ordinary Shares and application has been made for the Ordinary Shares to be admitted to the Main Market of the London Stock Exchange. Dealings are expected to commence on 15 April 2019.\n \nThe Company's enlarged issued share capital will be 203,965,140 Ordinary Shares. The Company has no treasury shares. This figure of 203,965,140 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.\n \n**ENDS**\n \nFor further information, please contact:\n \n\n\n\nRainbow Rare Earths Ltd\n\n\nMartin Eales \n\n\nTel: +44 (0) 20 3910 4550\n\n\n\n\nSt Brides Partners Ltd\n\n\nPriit Piip\n\n\nTel: +44 (0) 20 7236 1177\n\n\n\n\nArden Partners plc\n\n\nPaul Shackleton\nBenjamin Cryer\n\n\nTel: +44 (0) 20 7614 5900\n\n\n\n \nNotes to Editors:\n \nRainbow's focus is the Gakara Project in Burundi, one of the highest-grade (47%-67% Total Rare Earth Oxide) rare earths projects globally and the only African producer.&nb...