Sibo Funding Update

Sibo Funding Update

Following the Company's General Meeting held on 28 August 2015, Range is pleased to advise that all proposed resolutions relating to the funding package with Beijing Sibo Investment Management LP ("Sibo") were passed. Therefore, all conditions precedent to complete the funding have been satisfied.

Sibo has confirmed its total investment will be US$30 million. Tranche 1 subscription proceeds of £5.2 million (approximately US$7.9 million) in cash have already been received by the Company, as announced on 5 June 2015. As per the terms of the subscription agreement, Sibo will provide the Tranche 2 proceeds of US$22.1 million within the next 5 business days.

A separate announcement will be made at completion.