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Director dealings: Rainbow Rare Earths CEO linked to £43k purchase

(Sharecast News) - Shares in Rainbow Rare Earths were rising on Tuesday afternoon, after the company disclosed the purchase of more than 0.4 million shares linked to its chief executive officer. The firm said Pipestone Capital bought 435,000 shares on Monday, in a single transaction on the London Stock Exchange.

Pipestone paid 9.9p for each share, valuing the investment at a total of £43,065.00.

The Guernsey-domiciled Rainbow Rare Earths said in its disclosure that Pipestone Capital is beneficially owned by its CEO, George Bennett.

Bennett's purchase came a week after the pre-revenue rainbow released its preliminary results for the year through June, reporting progress on its Phalaborwa project and the restart of its Gakara operations.

The firm's shares declined in the ensuing days, from 11.75p before the results were released on 24 October, to reach a trough of 9.75p on Friday 28 October.

At 1547 GMT on Monday, they were up 3.2% at 10.16p.

Reporting by Josh White for Sharecast.com.

Top Director Buys

Rainbow Rare Earths Limited Npv (RBW) Director name: Bennett,George Amount purchased: 435,000 @ 9.90p Value: £43,065.00

Seeing Machines Ltd. Npv (di) (SEE) Director name: Hill,Kate Amount purchased: 400,000 @ 6.96p Value: £27,840.00

Strip Tinning Holdings (STG) Director name: Barton,Richard Amount purchased: 13,725 @ 72.50p Value: £9,950.63

Volta Finance Limited (VTA) Director name: Kershaw,Dagmar Kent Amount purchased: 1,293 @ 4.80 Value: 6,206.40

Volta Finance Limited (VTA) Director name: Page,Stephen Le Amount purchased: 1,099 @ 4.80 Value: 5,275.20

Volta Finance Limited (VTA) Director name: Ogoundele,Yedau Amount purchased: 905 @ 4.80 Value: 4,344.00

Volta Finance Limited (VTA) Director name: Harrison,Graham Amount purchased: 905 @ 4.80 Value: 4,344.00

Touchstone Exploration Inc Npv (di) (TXP) Director name: Baay,Paul R. Amount purchased: 4,184 @ $1.18 Value: $2,920.86

Angling Direct (ANG) Director name: Keen,Chris Amount purchased: 1,500 @ 29.13p Value: £436.95

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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