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Share Views: Mike van Dulken on today's Company Results and Macro considerations


Range Resources Ltd Share Chat (RRL)



Share Price: 0.34Bid: 0.33Ask: 0.35Change: 0.00 (0.00%)No Movement on Range Res.
Spread: 0.02Spread as %: 6.06%Open: 0.34High: 0.00Low: 0.00Yesterday’s Close: 0.34


Share Discussion for Range Resources Ltd


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Celticheart
Posts: 12,021
Observation
Opinion:No Opinion
Price:0.34
correction
Today 19:47
Didn't mean re-list meant come out of suspension just to clarify
 
Celticheart
Posts: 12,021
Observation
Opinion:No Opinion
Price:0.34
RTO
Today 19:46
This is a RTO and will be a new listing in effect now how can that breach rule 41 if we have already listed that course of action ahead of the 6 month deadline. Personally I think we will relist in August and then suspend again ahead of the RTO (if it goes ahead of course).
allianze
Posts: 33
Off Topic
Opinion:No Opinion
Price:0.34
RE: Development drilling
Today 18:59
Celtic,

They are not going to say in previous RNS, or even give any hint, that they wish to delist. As I said in my earlier post I am just going on my experience at ALO.

In all their numerous RNS, ALO gave no indication that they would breach rule 41 until they did. Then it was too late to try to do anything about it.
Celticheart
Posts: 12,021
Observation
Opinion:Strong Buy
Price:0.34
RE: Development drilling
Today 18:53
If you look at the pre ious RNS re the voluntary de-listing from ADR, it is clear that the BOD have no intention of delisting from either AIM or ASX anytime soon:

"Following completion of the reverse takeover process, the ordinary shares of Range will continue to trade on the AIM and on the ASX."
allianze
Posts: 33
Off Topic
Opinion:No Opinion
Price:0.34
RE: rig
Today 18:52
Mickdee,

I admit that I have not gone through the past RNSs is great detail, but I do not see in any RNS anything about RRL's intention to form a new entity and re-apply as a 'new applicant'. This appears to be a normal reverse takeover by RRL of RRDSL.

Regarding RIG. I think that RIG did play an important role in getting the BOD to address some of the shareholders' concerns. I wish it had been more pro-active at the time but that was not the decision of the majority of the members. In any case I don't see any better alternative. They can at least pin the BOD down to answering this AIM Rule 41 question and more importantly gettimng it on the record. IMHO.
Mickdee
Posts: 2,402
Off Topic
Opinion:No Opinion
Price:0.34
RE: rig
Today 18:33
allianze. I too would like some format to hold the BOD to account but I don't see it having much effect.
I don't think rule 41 will apply as it will not be Range Resources apply for reinstatement but a new company seeking admission but will need to prove that RRL was properly run(!) before the new company will be accepted.
I think we will see a new company with a new name and a consolidated share as the final outcome with everything tied up (including the poor long term holders)
allianze
Posts: 33
Off Topic
Opinion:No Opinion
Price:0.34
RE: Development drilling
Today 18:30
Celtic,

I don't know wether this post was a response to mine re: RIG. If not please excuse.

If it was,then it could well be that the company is preparing new drills and that these will be drilled by RRDSL. It may also be that the transaction to acquire RRDSL will eventually go ahead.

However, all these could also occur if RRL is delisted. The important factor is that if we remain in suspension for longer than 6 months then RRL would be in breach of AIM Rule 41.

Regards
Celticheart
Posts: 12,021
Observation
Opinion:No Opinion
Price:0.34
RE: Celtic?..... Is that you.?
Today 18:08
No but it is a lowlife that has been following me around under various different names, most recently Apache66 over on AEX but you will probably know him as Trumploudly. Why admin allow these multiple users I don't know?
Celticheart
Posts: 12,021
Off Topic
Opinion:No Opinion
Price:0.34
Development drilling
Today 18:03
While you are focusing on the negatives you see to have missed this:

During the period, the Company has been evaluating further drilling locations on its acreage. As a result, three new development well locations have been identified on the Morne Diablo field. The Company is preparing drilling approvals for these wells to be submitted to the regulatory bodies and expects to commence drilling operations on the first well in August 2017. The wells will be drilled by RRDSL.
allianze
Posts: 33
Off Topic
Opinion:No Opinion
Price:0.34
RE: rig
Today 17:51
ErraticPhil, I think that RIG may need to come out of its dormant state !

I still have a very small holding in RRL, and I have not been keeping up with events in RRL. But I think shareholders need to focus a little more attention on the section of the latest RNS regrading the RTO and the date now given for the transaction to complete.

It states that '...currently anticipates this will take place during October 2017'.
In the RNS on 12 March 2017 :-- It states that 'The parties agree to use their best efforts to execute final agreements (including a final conditional share purchase agreement) by no later than 30 April 2017.'

Can anyone understand why completing the transaction is expected to take so long. Its not as if the BOD are unfamiliar with RRDSL.

Since we went into suspension on 13th March 2017, surely this means that we will be in breach of AIM Rule 41. Under AIM Rule 41, the admission of a company's shares will be cancelled where these have been suspended from trading for six months.

I am also a holder of ALO, and RRL appears to be headed along the same trajectory of getting itself booted-off AIM. In ALO the BOD kept shifting the transaction date to a later date until they were in breach of the AIM Rule 41. AIM would not allow an extension and ALO is currently delisted and off AIM.

I may be wrong but I think that this tactic is being used more frequently by BODs. Best way to get yourself delisted is to get AIM to boot you off, and you can then shift the blame onto AIM regulations.

I think RIG needs to start asking tough questions now, regarding why the transaction is being delayed and potential breaching of AIM rule 41.

Regards




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