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Range Resources Leaves ASX Due To Low Trading Volumes But Stays On AIM

Thu, 24th Oct 2019 15:59

(Alliance News) - Range Resources Ltd on Thursday said the Australian Stock Exchange has accepted its application to be de-listed.

The oilfield services provider said it will be removed from ASX on November 25, with its shares currently suspended from trading in Sydney.

No change will occur to the company's listing on AIM in London, Range Resources noted.

Trading in the company's shares in Sydney has been thin for a significant period of time, especially when compared to larger trading volumes on AIM, Range Resources explained.

In addition, Range Resources said it is seeking to minimise its expenditure and would cease incurring "considerable corporate and administrative" costs, if it is removed from the official list of ASX.

Range Resources shares were trading 6.3% lower in London on Thursday afternoon at 0.038 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

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