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5 Sep 2019 07:00
Range Resources Limited
('Range' or 'the Company')
5 September 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
ASX SHARE TRADING UPDATE
As announced on 3 September 2019, the Company signed a binding conditional Sale and Purchase Agreement for the sale of Range Resources Trinidad Limited to LandOcean Energy Services Co., Ltd ("LandOcean") in exchange for (i) offsetting all outstanding debt and payables (including the convertible note) due from Range and its subsidiaries to LandOcean and its subsidiaries, and (ii) a cash consideration of US$2.5 million (the "Transaction").
As a result, the Company requested ASX to restore share trading of its securities. Following this request, ASX informed the Company that it is not willing to reinstate Range's securities to trading until ASX is satisfied that the Company's financial condition is adequate, which primarily will require the Company to complete the Transaction.
Contact details
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Range Resources Limited Evgenia Bezruchko (Group Corporate Development Manager & Joint Company Secretary) e. admin@rangeresources.co.uk t. +44 (0)20 3865 8430 | Cantor Fitzgerald Europe (Nominated Adviser and Broker) David Porter / Rick Thompson (Corporate Finance) t. +44 (0)20 7894 7000 |
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