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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Range Resources Limited | LSE:RRL | London | Ordinary Share | AU0000065989 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.035 | 0.03 | 0.04 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMRRL
RNS Number : 0312L
Range Resources Limited
20 December 2018
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
CONVERTIBLE NOTE INTEREST PAYMENT
Range, an international company with oil and gas assets and oilfield services operations in Trinidad and Indonesia, advises that it has signed an agreement with LandOcean Energy Services Co., Ltd. ("LandOcean") to pay the annual interest payment due under the convertible note of US$1.6 million by way of issuance new ordinary shares in the Company to LandOcean. The interest payment is due for the 12-month period to the end of November 2018 as per terms of the existing US$20 million convertible note entered into on 30 October 2016. The agreement to pay the interest in shares will allow the Company to preserve its existing cash position.
The shares will be issued at the volume weighted average price (VWAP) on the Australian Stock Exchange for the 90-day trading period prior to the date of issue. Based on the current 90-day VWAP this would result in the issuance of 1,684,140,384 shares however, the final number of shares to be issued will vary based on the applicable 90-day VWAP at the date of issuance.
The issue of these shares is subject to shareholder approval at a General Meeting of the Company, agreed to be held by no later than 28 February 2019. Further details will be provided in the Notice of Meeting of the Company and an Independent Expert's Report which will accompany the Notice of Meeting, expected to be published in the coming weeks.
Contact details Cantor Fitzgerald Europe (Nominated Range Resources Limited Adviser and Broker) Evgenia Bezruchko (Group Corporate David Porter / Nick Tulloch (Corporate Development Manager) Finance) e. admin@rangeresources.co.uk t. +44 (0)20 7894 7000 t. +44 (0)20 3865 8430
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
December 20, 2018 02:00 ET (07:00 GMT)
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