hi best thing to do is contact your existing provider, i recently has a position that went from lse to nasdaq finland and bestinvest opened a eur acct for me via another division of theirs which i didnt even know about. This will mean a corporate action but it can be done easy enough either with your existing or a new platform (provider) only issue is that it may cost more to trade plus you have fx risk
For those who can't be bothered checking..... Range enters into Integrated Master Services Agreement with LandOcean
Range is pleased to announce that, further to the announcement on 22 April 2014, the Company has entered into an Integrated Master Services Agreement with LandOcean Energy Services Co Ltd ("LandOcean") (SHE:300157). The agreement provides Range with an extremely capable and technically sophisticated preferred services provider. In addition, Range and LandOcean have agreed a financing package of up to US$50 million.
Integrated Master Services Agreement
According to the Integrated Master Services Agreement ("IMSA"), LandOcean will act as the preferred services contractor (subject to all tendering and procurement rules) for Range for oilfield services including geoscience, engineering, procurement and construction. Services provided under the IMSA will be agreed in individual purchase orders as the need for services arises. LandOcean will work for Range as a contractor on a "net cost plus" basis to be agreed in each Purchase Order. In addition, where services under a purchase order have been provided and have directly resulted in increased production for Range, LandOcean will be entitled to an incremental production bonus share of Range's after costs and capital expenditure. This incremental production bonus structure ensures LandOcean are incentivised to maximise production and cash flows for Range. The IMSA will last up to eight years and could cover a total contract value of up to US$400 million over this period.
Optional Financing Package
In addition to the services agreement LandOcean will also provide Range an option to take up to US$50 million of financing. The financing is available primarily to pay for LandOcean's services but can be used for other purposes if the two companies agree. The US$50 million will be made available in tranches. The first US$20 million tranche will be subject to interest at 10% per annum, with first interest payment due on the first anniversary of drawdown. Capital repayments will start after two years and will be paid equally over the next 36 months. The terms of additional tranches will be the subject of further agreements between the respective companies.
First Purchase Order
Under the IMSA, Range and LandOcean have entered into the first purchase order to draw down US$5 million of services from LandOcean. These services include a wide ranging geological and engineering study of secondary recovery projects (including waterflooding) in the Beach Marcelle, Morne Diablo and South Quarry fields in Trinidad.
The problem I have this is that we don't currently know how much we are into LO and whether the 'loans' will end up outstipping the declared production profits.By November we should know whether we will be a success or not, and if we can push for a RI in the mean time,whether it is worth bothering taking up or not.G
Very new to all this....range are first and only shares I have ever bought. What happens if they only list on ASX and not AIM, as someone made the point that this may be the case? Sorry, this is probably obvious to everyone else
I don't need to substantiate what a further loan of $50m from Sinosure and LandOcean will mean, surely even you can figure out they will want a chunk of the company in return, or do you still believe in Father Christmas.. ?? I can't believe you are so naïve at times..
This will make an interesting case study. Anyone who bought in before March 2014 was well and truly conned and totally rinsed. PL and AE were like Blair and Brown. Only now do some investors believe there really were no weapons of MD.
I bought last year because RSR and NB and Field and Duncan had come on board and I always felt that they were trying to do good things and were men you could trust. Unfortunately RSR was like Brian Robson at Middlesborough and Terry Connor at Wolves - would have come good eventually, but unfortunately time was never going to be on his side and he came across as unconfident and stuttering. But if you bought Range under RSR, you would probably not have lost very much and probably made a bit.
We still have vestiges of team that RSR recruited (NB, DF) and the current BOD (and our management in Trinidad in particular) seem to be slowly and professionally addressing matters. RIG now seem to carry a lot of weight, it is clear BOD are listening to them. Also, to positive and helpful investors like OMA. Never had any reason to be unhappy with Range yet, and see a very good future well above .8p soon.
Absolutely correct, I sold the majority of my holding 2 or 3 years ago above 5p per share.. Just have some remaining in PF which I will sell as soon as I get the chance, or should I say "if I get the chance" as it's only a couple of weeks until this stock potentially de-lists. I truly hope the statement at the end of the RNS turns out to be a positive one but you will notice there is no reference to the suspension on LSE AIM market only ASX is mentioned..
"An update on share suspension will be provided in the coming days, following consultation with ASX and the Company's Nominated Adviser"
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