Range Resources Ltd - Company update
('Range' or 'the Company')
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Range, an international company with oil and gas projects and oilfield service businesses in Trinidad and Indonesia, is pleased to provide a Company update.
Trinidad assets sale and debt restructure
The Company is pleased to confirm that is has received required approvals from its shareholders at the Annual General Meeting of the Company held on
The Company is also pleased to advise that LandOcean has provided the first tranche of the cash consideration of
Completion of the Transaction remains subject to approval by LandOcean shareholders at General Meeting of LandOcean, and approvals by the government of Trinidad and Tobago. The Company is aiming to compete the Transaction during Q1 2020, however there can be no guarantee that the Transaction will complete.
Change of company name
Following approval at the AGM, the Company confirms that its name will change to
The Company has lodged a copy of the special resolution with
Shareholders should note that shareholdings will be unaffected by the change of name.
Consolidation of capital
Following approval at the AGM, the Company's share capital will be consolidated on a 100:1 basis, effective
The reduction of capital will take effect in accordance with the following timetable:
Last day for Company to register transfers on a pre-Consolidation basis.
4 December 2019
Last day of dealing in the existing ordinary shares on AIM.
Consolidation record day.
First day for Company to send notice to each holder of the change in their details of holdings.
5 December 2019
First day for the Company to register Securities on a post-Consolidation basis and first day for issue of share certificates.
Admission day of the new consolidated ordinary shares on AIM.
Day that CREST accounts are credited with DIs.
The Company's capital structure post consolidation (ignoring the effect of rounding of fractional entitlements on an individual Security holder basis) is summarised in the table below:
Notes to the table above:
1. Options exercisable at
2. Each convertible note with a face value of
Following the Company's delisting from ASX on
Change in ISINs
As previously advised, the Company's ISIN and SEDOL will change to AU0000065989 and BKTCZY5, respectively on
Following the share consolidation becoming effective on
Evgenia Bezruchko (
t. +44 (0)20 3865 8430
Cantor Fitzgerald Europe (Nominated Adviser and Broker)
David Porter / Rick Thompson (Corporate Finance)
t. +44 (0)20 7894 7000
This information is provided by RNS, the news service of the
Quick facts: Range Resources
Market Cap: -
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