Range Resources Ltd is an oil and gas exploration, development and production company. Its roots originally start from 1976 in Ohio. Since then the company was incorporated in Australia in September 1982. Its headquarters are based in Texas.
It is still bad news for RRL when that happens. No doubt about it. One of the main reasons I bought and held RRL is because it is Isa allowed. I certainly would not hold it if other aim companies are allowed. I would drop it for GKP this instant. I am sure many people who hold RRL are like me so very very bad news.
from SOTO on WS
Thankfully shares and warrants issued for loan to IOP are exactly as per the merger announcement: 338.983m shares issued at 4p 169.491m warrants (options to buy at 4p in 2016) These resolutions (1 and 2) are effectively your chance to vote on whether you want the merger to go ahead as without this loan it will not happen. Other resolutions are retrospective and relate to: - previous issues of shares and options to displace YS Global/Crede debt (as announced with the Texas sale agreement RNS I think) - previous share issues to take strategic stake in CTR/LAR I need to re-review in the morning to make sure I have got the right end of the stick but on the face of it (and for what its worth) I will vote: - yes to the merger loan, - no to CTR/LAR - think the Guatemalan adventure is an overstretch - I would have preferred our share capital to have remained focused on existing assets. - no to the YS Global/Crede debt displacement on the basis that even though it was a modest share issue, funds from Texas completion should be able to be used by the time of the General Meeting to pay these debtors rather than issue share capital. However I am a little ambivalent as to these share issues as they were at a much higher price than currently so voting down this resolution would effectively be sanctioning a buyback at a much higher price than the current one - will have to mull this one over. Not sure what happens if the historic share issues get voted down? presumably these deals are contingent on being passed by shareholders and we get our cash back? Anyhow long night on the juice and I have probably missed a few things so will leave it to more forensic minds in the morning cheers SOTO
to ratify PLACEMENTS of: 1st tranche : 267,944,818 shares 2nd tranche: 71,038,233 shares + 169,491,526 options Plus 20,338,983 placement options to advisors Plus 48,445,573 shares & 15,708,801 options re prior issues under financing agreements Plus another 16,000 shares & 32,275,862 options re prior issue under financing facility Plus another 40,000 shares & 40,000 options relating to a prior issue.
stocksnblocks - re some news
thanks for the info, CH seems to know what he's doing, lets hope he can deliver as intended
shareholders meeting on the 19th june , more news I hope
That won't be a problem if the below goes ahead. Shares can be held in ISA's and don't have to be duel listed as is RRL to qualify. http://www.moneymarketing.co.uk/politics/govt-to-allow-aim-isa-investments-with-iht-benefit-retained/1067673.article
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