('Range' or 'the Company')
23 October 2014 ASX Code: RRS AIM Code: RRL CONTACTS Range Resources Limited Rory Scott Russell (CEO) Evgenia Bezruchko (IR) Cantor Fitzgerald Europe (Nominated Advisor and Broker) David Porter / Sarah Wharry(Corporate Finance)
Richard Redmayne (Corporate Broking)
t. +44 (0)20 7894 7000
Buchanan (Financial PR - UK)Ben Romney / Helen Chan
t. +44 (0)20 7466 5000
e. rangeresources@buchanan.uk.com
MAGNUS (Financial PR - Australia)Rupert Dearden / Richard Glass
t. + 61 8 6160 4900
e. rdearden@magnus.net.au
International Petroleum Loan Update
Range advises that further to the Company's announcement on 4 August 2014, all conditions precedent to the settlement of Range's loan have been met.
According to the settlement agreement, International Petroleum Ltd ("IOP") has made a cash payment of US$500,000 to Range and all other outstanding monies have converted into 147,803,270 ordinary shares of IOP. Following conversion, Range holds approximately 9% of the enlarged share capital of IOP. In addition, IOP has issued 5 million unlisted options to Range exercisable at AU$0.06 per option on or before 2 October 2016.
IOP advises Range that its securities are expected to be restored to trading on the
National Stock Exchange of Australia ("NSX") within the current quarter.
945 Wellington Street
West Perth, WA 6005
Australia
t. +61 8 9322 7600
f. +61 8 9322 7602
UK OfficeSuite 1A, Prince's House
38 Jermyn Street London, SW1Y 6DN United Kingdom
t. +44 (0)20 7025 7040
f. +44 (0)20 7287 8028
e. admin@rangeresources.co.uk www.rangeresources.co.uk
distributed by |