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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 |
From Apr 2019 to Apr 2024
TIDMRRL
RNS Number : 1463L
Range Resources Limited
21 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.
REFUNDABLE PAYMENT UPDATE
Range, an international company with oil and gas assets and oilfield services operations in Trinidad and Indonesia, provides an update with regards to the refundable payment of US$2.8 million due to Range ("Refundable Payment").
As announced on 28 December 2017, Soca Petroleum Limited, a wholly owned subsidiary of the Company, advanced the Refundable Payment to LandOcean Petroleum Corp. Ltd, a subsidiary of LandOcean Energy Services Co., Ltd. ("LandOcean") as part of the consideration for the Range Resources Drilling Services Limited acquisition. Following a repayment request from Range, LandOcean advised that it was unable to return the Refundable Payment immediately as stipulated by the agreement due to foreign exchange controls and the need for routine examination and approval of the payment from the State Administration of Foreign Exchange of China ("SAFE"). LandOcean has confirmed that the Refundable Payment remains refundable to Range, and they will use all reasonable endeavours to arrange the payment to Range as soon as possible.
Range believes that it may take up to 6 months to obtain the necessary approvals from SAFE, and a backstop date for the Refundable Payment of 30 June 2019 has been agreed between Range and LandOcean.
Range's current cash position is approximately US$3.3 million.
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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
MSCLLFLFFILIFIT
(END) Dow Jones Newswires
December 21, 2018 02:00 ET (07:00 GMT)
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