LONDON (Alliance News) - Range Resources Ltd said its share trading on the AIM market will be unaffected, after having requested voluntary suspension of its shares on the Australian Stock Exchange.
Range Resources said it requested that its shares be suspended from trading on the ASX as it is in the process of appointing an Australian resident director. This is because its previous Resident Director David Chen will no longer be an Australian resident, which is a requirement for the role under the Australian Corporations Act and ASX listing rules.
Range Resources said it requested the suspension of its shares to be in place until it releases an announcement regarding the new appointment, and expects to make the announcement before June 6.
However, Range Resources said its shares on AIM will be unaffected.
Shares in Range Resources were down 2.0% at 0.451 pence on Friday.
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