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5 Jan 2010 07:00
Range Resources Ltd ABN 88 002 522 009 Level 3, 1 Havelock Street West Perth WA 6005 p +61 8 9488 5220 f +61 8 9324 2400 admin@rangeresources.com.au5 January 2010RIGHTS ISSUE
Range Resources Limited ("Range" or "the Company") is pleased to announce that it will undertake a non-renounceable entitlements issue ("Rights Issue") to raise approximately A$7.0 million (before expenses).
Shareholders shall be entitled to acquire one (1) new ordinary Range Share (" New Share") for every four (4) existing Range Shares held at the record date (to be determined) at an issue price of A$0.05 per share. Shareholders with UK addresses will be eligible to participate.
The Company is in final negotiations with a number of interested parties to have the Rights Issue fully underwritten.
Range is currently preparing the necessary regulatory and compliance documentation and will provide an update once complete, along with a proposed timetable for the Rights Issue.
As part of the Company's ongoing financing needs for Georgia and Texas, in conjunction with the Rights Issue, a placement has been completed to institutional and sophisticated investors under the same terms as the Rights Issue to raise approximately A$2 million through the issue of 40 million ordinary shares.
For and on behalf of the board
PETER LANDAUExecutive Director
For further information please contact:
Range 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 Fox-Davies Capital (Nominated Advisor) (Broker)Stuart Laing Daniel Fox-DaviesTel: +61 (8) 9480 2500 Tel: +44 (0) 207 936 5200www.rangeresources.com.au
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