Fubotv earnings beat by $0.10, revenue topped estimates
LONDON - Rainbow Rare Earths Limited (LSE:RBW) will issue 583,332 new ordinary shares to three directors following the vesting of the first tranche of Restricted Share Units (RSUs) under its Long Term Incentive Plan, according to a press release issued Friday.
The shares will be distributed to Atul (NSE:ATLP) Bali (166,666 shares), J Peter Pham (166,666 shares), and Shawn McCormick (NYSE:MKC) (250,000 shares). An application has been made for these shares to be admitted to the Official List and to trading on the London Stock Exchange (LON:LSEG)’s Main Market, with admission expected around July 9.
Following the admission, Rainbow Rare Earths will have 644,271,482 ordinary shares in issue. The new shares will rank equally with existing ordinary shares.
The company’s Long Term Incentive Plan was amended in September 2024 to incorporate RSUs for U.S. resident individuals to comply with U.S. tax requirements. This first tranche vested on June 30, with additional tranches scheduled to vest on June 30, 2026, and June 30, 2027.
After the share issuance, Atul Bali’s ownership stake will increase from 0.70% to 0.73%, J Peter Pham’s from 0.11% to 0.14%, and Shawn McCormick’s from 1.47% to 1.51%.
Rainbow Rare Earths is listed on the London Stock Exchange under the ticker RBW.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.