STA.L Regulatory News (STA)

11 June 2014 ASX Code: RRS and AIM Code: RRL Range Resources Limited ("Range" or "the Company") Notice of General Meeting Range advises of its Notice of General Meeting ("Notice"). The meeting isconvened for 2.00pm (WST) on 11 July 2014, to be held at The University Club ofWestern Australia, Seminar Room 3, Hackett Drive, Crawley, Western Australia. Full details are available on the Company's website www.rangeresources.com.auand also on the Australian Securities Exchange website www.asx.com.au (ASXcode: RRS). Letter from Chairman Dear Range Shareholders, As announced on 15 May 2014, the Company entered into an agreement with AbrahamLtd, ("Abraham") a Hong Kong-based investor, for Abraham to subscribe for US$12million in cash for approximately 712 million new Ordinary Shares in theCompany (in two tranches) at a price of £0.01 per share. This represented apremium of 49% to the share price at the close of business on the London AIMmarket on 14 May 2014. Subsequently, and as announced on 29 May 2014, US$6million was subscribed for 356,188,780 shares at the end of May with proceedsof US$12 million received by the Company. As also announced on 15 May 2014, the US$6 million for tranche two is subjectto Shareholders' approval upon the passing of an Ordinary Resolution to be putto Shareholders at a General Meeting. I am writing this letter to Shareholders to set out the background to the issueof shares to Abraham to provide the reasons to the proposed resolutions and onbehalf of the Board to recommend to Shareholders to vote in favour of theResolutions. Background to the transaction Over recent years, Range Resources entered into numerous corporate debtarrangements with a variety of lenders on expensive terms, which has had asignificant dilutionary effect on the Company's capital structure. With thereceipt of the US$12 million, the Company was able to use the funds to largelyrepay these outstanding loans, as well as retain some funds for the Company'sworking capital, both important and necessary steps to help return the Companyto financial health. Resolution 1 therefore seeks Shareholders' approval for the Company to issue upto 360 million shares and up to 240 million warrants to Abraham in order tosatisfy the only condition of the agreement between Abraham and the Company. As per the agreement, in the event Shareholders do not approve Resolution 1(described above and in the notice attached), US$6 million (of the US$12million received) must be repaid to Abraham, together with a fee of US$1.8million. Benefits of the Transaction In addition to leaving the Company with minimal debt (approximately GBP 75,000)and providing the Company with working capital, the Company is gaining asubstantial new and supportive shareholder who will hold approximately 15% ofthe enlarged share capital of the Company. Furthermore, the shares being issuedto Abraham are being issued at a premium to the share price at the time ofentering into the agreement and will finally put an end to the dilutionaryconvertible debt which over recent months has put an immense pressure on theCompany's share price. Collectively as a Board, we are delighted that we have managed to help securethe future of the Company with this new investment and that with Shareholders'approval, we can conclude the existing financing arrangements which have beenso prejudicial to the Company. I am also optimistic that we can now proceed toput in place additional long term debt financing to develop our existingproduction assets in Trinidad where together with our recently acquired acreagefor exploration, we have excellent prospects for returning the Company to longterm profitability. Personally, I am extremely pleased that the new management team have alreadymade a positive impact on the Company. We believe that the financingarrangements are in the best long term interests of the Company and recommendthat you vote in favour of the Resolutions. Yours faithfully, Sir Sam JonahChairman Contacts Range Resources Limited Buchanan (Financial PR - UK)Rory Scott Russell Ben Romney / Helen Chan T: +44 (0) 20 7466 5000 E: rangeresources@buchanan.uk.com GMP Securities Europe LLP (Joint Cantor Fitzgerald (Nominated Advisor andBroker) Joint Broker)Rob Collins / Liz Williamson David Porter / Tom Sheldon / JulianT: +44 (0) 207 647 2800 Erleigh (Corporate finance) / Richard Redmayne (Corporate broking) T: +44 (0) 20 7894 7000 PPR (Financial PR -Australia)David TaskerE: david.tasker@ppr.com.au Australia LondonGround Floor, 1 Havelock Street, West Suite 1A, Prince's House, 38 JermynPerth WA 6005, Australia Street, London SW1 6DNt:+61 8 9488 5220, f:+61 8 9324 2400 t:+44 (0)207 025 7040, f:+44 207 287e:admin@rangeresources.com.au 8028 w: www.rangeresources.com.au