Range Resources confirms $30m convertible note financing
Shares in Range Resources are up almost 9% as it confirmed all conditions for a $30m convertible note financing have been met.
FTSE AIM All-Share
754.69
16:50 24/04/24
n/a
n/a
Oil & Gas Producers
9,657.38
17:09 24/04/24
0.42%
40.56
Range Resources Limited NPV (DI)
0.25p
14:54 13/12/17
0.00%
0.25p
This followed shareholder approval at a general meeting on Tuesday.
The convertible note was to replace a portion of the outstanding payable balance due to LandOcean Energy Services Co., Ltd., under the Integrated Master Services Agreement.
Range said the convertible note agreement was entered on 31 October, 2016, at which time the outstanding payable balance to LandOcean was $35.9m.
At about 13:16 GMT, shares in AIM-quoted Range were up 8.91% to 0.38p.