LONDON (Alliance News) - Range Resources Ltd on Wednesday said Lind Asset Management LLC has demanded the repayment of USD7.2 million Lind claims is due under the USD15 million loan facility provided to Range.
Range said it is seeking legal advice on the validity of the statutory demand issued by Lind.
The oil company said it had offered to buy back the convertible security issued to Lind but was unable to reach an agreement with the lender.
Shares in Range are currently suspended from trade.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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