Business
Result of Oversubscribed Placing
Result of Oversubscribed Placing.
About this update from Rainbow Rare Earths Ltd.
[{"type":"text","content":"\n \nRNS Number : 1096Z Rainbow Rare Earths Limited 12 December 2017 \n\nTHIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN RAINBOW RARE EARTHS LIMITED OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF RAINBOW RARE EARTHS LIMITED.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (596/2014/EU). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY MAR, UPON THE PUBLICATION OF THIS ANNOUNCEMENT. THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\nFor immediate release\n \n12 December 2017\n \nRainbow Rare Earths Limited\n(\"Rainbow\" or the \"Company\")\n \nResult of Oversubscribed Placing\n \nFurther to the announcement made earlier today, Rainbow is pleased to announce a conditional placing (the \"Placing\") of 20,000,000 new ordinary shares (the \"Placing Shares\") to raise £2.8 million (before expenses) with new and existing shareholders at an Issue Price of 14 pence per Placing Share (the \"Placing Price\"). The Placing Price represents a discount of approximately 8 per cent. to the closing middle market price of 15.25 pence per Existing Ordinary Share on 11 December 2017, the last business day before the announcement of the Placing.\n \nApplication will be made for the Placing Shares to be admitted to the Official List and to trading with effe...