1 Apr 2019 07:00
Voluntary Share Suspension on ASX
Range Resources Limited (ASX: RRS) hereby requests that ASX grant an extension to voluntary suspension with respect to its securities and provides the following information in accordance with ASX Listing Rule 17.2:
· The Company requests the extension to the voluntary suspension pending the release of an announcement to ASX regarding a material debt restructuring and a proposed new acquisition.
· The proposed acquisition, if completed, would constitute a reverse takeover under Rule 14 of the AIM Rules that will be subject to a vote of the Company's shareholders, relevant regulatory approvals and to produce an admission document. In accordance with AIM Rules, the Company requested suspension of trading in its securities on AIM effective 18 March 2019, pending the publication of an AIM admission document or confirmation by the Company that the proposed acquisition is not to proceed.
· The proposed acquisition will also be subject to compliance with relevant ASX Listing Rules, which will likely include the requirement for shareholder approval under Listing Rule 11.1.2, and re-compliance with ASX initial listing requirements in chapters 1 and 2 of the Listing Rules under Listing Rule 11.1.3. No determination has yet been made by ASX whether the proposed acquisition will require compliance with those Listing Rules.
· The Company expects the suspension from quotation on ASX to continue until release of an announcement with respect to the abovementioned matters, or, where the Company is required to re-comply with ASX initial listing requirements in chapters 1 and 2 of the Listing Rules under Listing Rule 11.1.3, when all the conditions to recompliance have been satisfied and production of the AIM admission document has occurred, which is expected to take several months. A specific date is not yet known, and the Company will keep the market updated about the anticipated date.
· The Company is not aware of any reason why the voluntary suspension should not be granted, nor of any other information necessary to inform the market about the voluntary suspension.