Completion of Texas Sale

RNS Number : 2959I

Range Resources Limited

24 March 2015

 



Completion of Texas Sale

Range is pleased to announce that further to the Company's previous announcements, the sale of its Texas assets to Citation Resources Limited (Citation) has completed.

As part of the sales proceeds Range has received a AU$500,000 cash payment, a carry on the Guatemalan assets to the value of AU$830,000, a forgiveness on monies owed by Range to Citation to the value of AU$189,000 and 200 million new ordinary shares in Citation.

Range also has the right to appoint one Director to the Board of Citation, provided that Range holds a minimum of 100 million Citation shares. Range has not appointed any Director at this time but will keep this option under review.

Contacts

Cantor Fitzgerald Europe
(Nominated Advisor and Broker)

David Porter / Sarah Wharry
(Corporate finance)

Richard Redmayne (Corporate broking)

t.   [phone]

Range Resources Limited

Australian Office

Ground Floor, BGC Centre

28 The Esplanade

Perth WA 6000

Australia

t.   [phone]

UK Office

Suite 1A, Prince's House
38 Jermyn Street
London, SW1Y 6DN
United Kingdom

t.   [phone]

f.   [phone]

e.  [e-mail]

www.rangeresources.co.uk

 

END

 

 

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