RRDSL acquisition payment

RNS Number : 3972A

Range Resources Limited

27 December 2017

 

Range Resources Limited                                                                 

(‘Range’ or ‘the Company’)

 

28 December 2017

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.

RRDSL ACQUISITION PAYMENT

Range advises that it has advanced a partial payment of US$2.8 million to LandOcean Petroleum Corp. Ltd as part of the consideration for the completed acquisition of Range Resources Drilling Services Limited ("RRDSL").  The payment is on a refundable basis and the funds will be immediately repayable to Range upon the Company's request. 

This early, refundable payment will benefit Range as it will no longer have to pay the 6% interest rate per annum accruing on the amount of consideration.

The consideration for the acquisition remains due to be paid by no later than 30 November 2020.  

Contact details
Range Resources Limited Evgenia Bezruchko (Group Corporate Development Manager) e. [e-mail] t.   [phone]	Cantor Fitzgerald Europe (Nominated Advisor and Broker) David Porter (Corporate Finance) t.   [phone]

Note relating to statutory disclosure of significant shareholdings

Statutory disclosure of significant shareholdings (as defined in the AIM Rules) is different for Australian companies and may not always ensure compliance with the requirements of Rule 17 of the Aim Rules.  All shareholders who are holding (directly or indirectly), 3% or more of the issued and outstanding Ordinary Shares are requested to notify the Company without delay of any changes to their holding which increase or decrease such holding through any single percentage. Likewise, shareholders who acquire 3% or more of the issued and outstanding Ordinary Shares are requested to notify the Company without delay.

 

END

 

 

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