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ASX share trading update

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RNS Number : 2715L
Range Resources Limited
04 September 2019
 

Range Resources Limited                                                                 

('Range' or 'the Company') 

 

5 September 2019

 

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.

 

ASX SHARE TRADING UPDATE

 

As announced on 3 September 2019, the Company signed a binding conditional Sale and Purchase Agreement for the sale of Range Resources Trinidad Limited to LandOcean Energy Services Co., Ltd ("LandOcean") in exchange for (i) offsetting all outstanding debt and payables (including the convertible note) due from Range and its subsidiaries to LandOcean and its subsidiaries, and (ii) a cash consideration of US$2.5 million (the "Transaction").

 

As a result, the Company requested ASX to restore share trading of its securities. Following this request, ASX informed the Company that it is not willing to reinstate Range's securities to trading until ASX is satisfied that the Company's financial condition is adequate, which primarily will require the Company to complete the Transaction.

 

 

 

Contact details

 

 

 

Range Resources Limited

Evgenia Bezruchko (Group Corporate Development Manager & Joint Company Secretary)

e. [email protected]

t.   +44 (0)20 3865 8430

Cantor Fitzgerald Europe (Nominated Adviser and Broker)

David Porter / Rick Thompson (Corporate Finance)

t.   +44 (0)20 7894 7000

 


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 [email protected] or visit www.rns.com.
 
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Quick facts: Range Resources

Price: 0.0355

Market: AIM
Market Cap: £4.18 m
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