3 Mar 2010 12:21
03 March 2010
Manager of Company AnnouncementsAustralian Securities ExchangeLevel 620 Bridge StreetSYDNEY NSW 2000Via e-lodgementDear Sir / Madam
Non-renounceable Rights Issue - Allotment of Securities
Range Resources Ltd (the "Company") advises that, in relation to its non-renounceable rights issue a total of 164,842,029 Ordinary Fully Paid shares have been allotted to shareholders who applied. This represents entitlement shares taken up, shortfall shares taken up and circa 9m additional shares allocated to partly accommodate the excess demand for shortfall shares.
Given the overwhelming level of applications for shortfall shares, the Companyscaled back allocations of the shortfall on the basis that the maximum numberof shortfall shares allocated to a shareholder was equal to half of the numberof entitlement shares that the shareholder had accepted.
By way of example:
Shareholder 1 who accepted 10,000 entitlement shares and applied for 10,000shortfall shares would be allocated 100% of their entitlement shares and 5,000of the shortfall shares applied for (being 50% of entitlement accepted), givinga total of 15,000 shares being allotted.
Shareholder 2 who accepted 10,000 entitlement shares and applied for 4,000 shortfall shares would be allocated 100% of their entitlement shares and 4,000 shortfall shares as it is below 50% of their accepted entitlement, giving a total of 14,000 shares being allotted.
Following the issue of these shares (and other share and option issues as setout in the attached Appendix 3B), the Company has on issue a total of787,246,463 ordinary shares. Full details are set in the Appendix 3B. As so faras the Company is aware, the following shareholders currently hold over 3% ofthe ordinary share capital of the Company:
Consort Private Ltd 30m shares (3.81%)
Mr David Scanlen 24m shares (3.05%)
A full list of the 20 shareholders following the rights issue is available onthe Company's website.Yours faithfullyPeter LandauExecutive DirectorContactsRange ResourcesPeter LandauTel : +61 (8) 8 9488 5220Em: plandau@rangeresources.com.auAustralia LondonPPR Conduit PRDavid Tasker Jonathan CharlesTel: +61 (8) 9388 0944 Tel: + 44 (0) 20 7429 6666Em: david.tasker@ppr.com.au Em: jonathan@conduitpr.comRFC Corporate Finance (Nominated Advisor) Old Park Lane Capital (Broker)Stuart Laing Michael ParnesTel: +61 (8) 9480 2500 Tel: +44 (0) 207 493 8188Range Background
Range Resources is a dual listed oil & gas exploration company with oil & gas interests in the frontier state of Puntland, Somalia, the Republic of Georgia and Texas, USA.
* In Puntland, Range holds a 20% working interest in two licences
encompassing the highly prospective Dharoor and Nugaal valleys with plans
to drill two wells - 65% Operator, in 2010.
* In the Republic of Georgia, Range holds a 50% farm-in interest in onshore
blocks VIa and VIb, covering approx. 7,000sq.km. Currently, Range is
undertaking a 350km 2D seismic program.
* Range holds a 25% interest in the North Chapman Ranch project, Texas. The
project area encompasses approximately 1,680 acres in one of the most
prolific oil and gas producing trends in the State of Texas. Drilling of
the first well has resulted in a commercial discovery with production having commenced in February 2010. Rule 2.7, 3.10.3, 3.10.4, 3.10.5Appendix 3B New issue announcement, application for quotation of additional securities and agreement
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.Name of entity RANGE RESOURCES LIMITED ABN 88 002 522 009
We (the entity) give ASX the following information.
Part 1 - All issues
You must complete the relevant sections (attach sheets if there is not enough space).
1 +Class of +securities issued or Ordinary Fully Paid Shares to be issued 2 Number of +securities issued or 4,174,530 Ordinary Fully Paid Shares to to be issued (if known) or be issued Pursuant to the Company's maximum number which may be Non-renouncable Rights Issue issued 9,072,167 Ordinary Fully Paid Shares to be issued in a Placement to Sophisticated and Institutional Investors 1,288,272 Ordinary Fully Paid Shares to be issued in lieu of consulting services 10,872,143 listed options (RRSO 5 cents, 31 Dec 2011) to be issued in lieu of consulting services 3,632,500 Ordinary Fully Paid Shares to be issued on exercise of listed options (RRSO 5 cents, 31 Dec 2011) 4,061 Ordinary Fully Paid Shares to be issued on exercise of listed options (RRSOA $1.00, 1 Oct 2010) 31,428,571 Ordinary Fully Paid Shares and 1,428,571 listed options (RRSO 5 cents, 31 Dec 2011) on conversion of debt to equity 3 Principal terms of the 4,174,530 Ordinary Fully Paid Shares to
+securities (eg, if options, be issued Pursuant to the Company's exercise price and expiry date; Non-renouncable Rights Issue if partly paid +securities, the amount outstanding and due dates 9,072,167 Ordinary Fully Paid Shares to
for payment; if +convertible be issued in a Placement to Sophisticated
securities, the conversion price and Institutional Investors and dates for conversion) 1,288,272 Ordinary Fully Paid Shares to be issued in lieu of consulting services 10,872,143 listed options (RRSO 5 cents, 31 Dec 2011) to be issued in lieu of consulting services 3,632,500 Ordinary Fully Paid Shares to be issued on exercise of listed options (RRSO 5 cents, 31 Dec 2011) 4,061 Ordinary Fully Paid Shares to be issued on exercise of listed options (RRSOA $1.00, 1 Oct 2010) 31,428,571 Ordinary Fully Paid Shares and 1,428,571 listed options (RRSO 5 cents, 31 Dec 2011) on conversion of debt to equity 4 Do the +securities rank Yes
equally in all respects from the date of allotment with an existing +class of quoted +securities? If the additional securities do not rank equally, please state:
* the date from which they do * the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or consideration 4,174,530 Additional Ordinary Fully
Paid Shares to be issued Pursuant to the Company's Non-renouncable Rights Issue post prospectus despatch, at 5 cents per share raising $208,726. Proceeds of the offer to satisfy joint venture obligations in relation to the Puntland Projects, completion of the acquisition and seismic interpretation in relation to the Georgian Projects, Tie-in costs for the Smith No. 1 well in Texas and working capital. 9,072,167 Ordinary Fully Paid Shares to be issued in a Placement to Sophisticated and Institutional Investors at 5 cents per share raising $453,608 to fund Puntland operations, Georgian operations and Texan operations, issue costs and working capital. 1,288,272 Ordinary Fully Paid Shares to be issued in lieu of consulting services 10,872,143 listed options (RRSO 5 cents, 31 Dec 2011) to be issued in lieu of consulting services 3,632,500 Ordinary Fully Paid Shares to be issued on exercise of listed options (RRSO 5 cents, 31 Dec 2011) 4,061 Ordinary Fully Paid Shares to be issued on exercise of listed options (RRSOA $1.00, 1 Oct 2010) 31,428,571 Ordinary Fully Paid Shares and 1,428,571 listed options (RRSO 5 cents, 31 Dec 2011) on conversion of debt to equity 6 Purpose of the issue 4,174,530 Additional Ordinary Fully Paid Shares to be issued Pursuant to
(If issued as consideration the Company's Non-renouncable Rights
for the acquisition of Issue post prospectus despatch, at 5 assets, clearly identify cents per share raising $208,726. those assets) Proceeds of the offer to satisfy joint venture obligations in relation to the Puntland Projects, completion of the acquisition and seismic interpretation in relation to the Georgian Projects, Tie-in costs for the Smith No. 1 well in Texas and working capital. 9,072,167 Ordinary Fully Paid Shares to be issued in a Placement to Sophisticated and Institutional Investors at 5 cents per share raising $453,608 to fund Puntland operations, Georgian operations and Texan operations, issue costs and working capital. 1,288,272 Ordinary Fully Paid Shares to be issued in lieu of consulting services 10,872,143 listed options (RRSO 5 cents, 31 Dec 2011) to be issued in lieu of consulting services 3,632,500 Ordinary Fully Paid Shares to be issued on exercise of listed options (RRSO 5 cents, 31 Dec 2011) 4,061 Ordinary Fully Paid Shares to be issued on exercise of listed options (RRSOA $1.00, 1 Oct 2010) 31,428,571 Ordinary Fully Paid Shares and 1,428,571 listed options (RRSO 5 cents, 31 Dec 2011) on conversion of debt to equity
7 Dates of entering +securities 3 March 2010 into uncertificated holdings or despatch of certificates
Number +Class
8 Number and +class of all 787,576,758 * Ordinary fully paid shares (RRS)
+securities quoted on ASX
(including the securities 64,897,125 Listed Options (RRSOA)
in clause 2 if (A$1.00, 1 October 2010) applicable) 349,173,319 * Listed Attaching Options (RRSO) ($A0.05, 31 December 2011) * 70m ordinary fully paid shares and 70m listed options RRSO (5 cents, 31December 2011) still to be issued upon milestones in respect to the Georgianacquisition . Number +Class
9 Number and +class of all 3,177,029 Unlisted Options (A$0.50, 30 June 2012)
+securities not quoted on ASX (including the securities in clause 2 if applicable) 10 Dividend policy (in the Not applicable case of a trust, distribution policy) on the increased capital (interests)
Part 2 - Bonus issue or pro rata issue
11 Is security holder approval N/A required? 12 Is the issue renounceable or N/A non-renounceable? 13 Ratio in which the +securities will N/A be offered 14 +Class of +securities to which the N/A offer relates 15 +Record date to determine N/A entitlements 16 Will holdings on different registers N/A (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in N/A relation to fractions 18 Names of countries in which the N/A entity has +security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of N/A acceptances or renunciations 20 Names of any underwriters N/A 21 Amount of any underwriting fee or N/A commission 22 Names of any brokers to the issue N/A 23 Fee or commission payable to the N/A broker to the issue 24 Amount of any handling fee payable N/A to brokers who lodge acceptances or renunciations on behalf of +security holders 25 If the issue is contingent on N/A +security holders' approval, the date of the meeting 26 Date entitlement and acceptance form N/A and prospectus or Product Disclosure Statement will be sent to persons entitled 27 If the entity has issued options, N/A and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if N/A applicable) 29 Date rights trading will end (if N/A applicable) 30 How do +security holders sell their N/A entitlements in full through a broker? 31 How do +security holders sell part N/A of their entitlements through a broker and accept for the balance? 32 How do +security holders dispose of N/A their entitlements (except by sale through a broker)? 33 +Despatch date N/A
Part 3 - Quotation of securities
You need only complete this section if you are applying for quotation ofsecurities34 Type of securities (tick one) (a) Securities described in Part 1 (b) All other securities Example: restricted securities at the end of the escrowed period,
partly paid securities that become fully paid, employee incentive share
securities when restriction ends, securities issued on expiry or conversion of convertible securities
Entities that have ticked box 34(a)
Additional securities forming a new class of securities
Tick to indicate you are providing the information or documents
35 If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders 36 If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37 A copy of any trust deed for the additional +securities
Entities that have ticked box 34(b)
38 Number of securities for which +quotation is sought 39 Class of +securities for which quotation is sought 40 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities? If the additional securities do not rank equally, please state: * the date from which they do * the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment * the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security) Number +Class 42 Number and +class of all +securities quoted on ASX (including the securities in clause 38)
Quotation agreement
1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.
2 We warrant the following to ASX.
• The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those +securities should not be granted +quotation.
• An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.
Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty
• Section 724 or section 1016E of the Corporations Act does not apply to anyapplications received by us in relation to any +securities to be quoted andthat no-one has any right to return any +securities to be quoted under sections737, 738 or 1016F of the Corporations Act at the time that we request that the+securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the +securities to be quoted, it has been provided at the time that we request that the +securities be quoted.
• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.
3 We will indemnify ASX to the fullest extent permitted by law in respect ofany claim, action or expense arising from or connected with any breach of thewarranties in this agreement.
4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.
Sign here:Date: 3 March 2010
Print name: Jane Flegg - Company Secretary
vendor