Business
Grant of Share Options
Grant of Share Options.
About this update from Rainbow Rare Earths Ltd.
[{"type":"text","content":"\n\n\n6 June 2023\nRainbow Rare Earths Limited\n(\"Rainbow\" or \"the Company\")\nLSE: RBW\n \nGrant of Share Options\nRainbow Rare Earths announces that pursuant to its Long Term Incentive Plan (\"LTIP\") approved in January 2021 its Board of Directors, on the recommendation of the Remuneration Committee, has approved the grant of 1.4 million nil priced share options to employees, including 400,000 options issued to Dave Dodd who is a Person Discharging Managerial Responsibility of the Company.\nThe options will vest in equal tranches over three years: one third after 12 months, one third after 24 months and one third after 36 months; there are no other vesting conditions.\nIn aggregate the share options granted above represent 0.23% of the existing issued share capital of the Company. Following this award the Company has 19,799,400 share options in issue under the existing share option schemes, representing 3.3% of the existing issued share capital of the Company, including 8,258,000 nil priced options issued under the LTIP and 11,541,400 options with a weighted average exercise price of 13.33 pence per share under the unapproved share option plan.\nNotification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them\n\n\n\n1\n\n\nDetails of the person discharging managerial responsibilities/person closely associated\n\n\n\n\na)\n\n\nName\n\n\nDave Dodd\n\n\n\n\n2\n\n\nReason for the notification\n\n\n\n\na)\n\n\nPosition/status\n\n\nPDMR\n\n\n\n\nb)\n\n\nInitial notification/ Amendment\n\n\nInitial Notification\n\n\n\n\n3\n\n\nDetails of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor \n\n\n\n\na)\n\n\nName\n\n\nRainbow Rare Earths Limited\n\n\n\n\nb)\n\n\nLEI\n\n\n213800HONYSAXTG6KS11\n\n\n\n\n4\n\n\nDetails 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\n \n\n\n\n\na)\n\n\nDescription of the financial instrument, type of instrument\n \nIdentification code\n\n\nOrdinary shares of no par value\n \n \nGG00BD59ZW98\n\n\n\n\nb)\n\n\nNature of the transaction\n \n\n\nAward of option to purchase ordinary shares of the Company. Foll...