ABN 88 002 522 00934 Parliament PlaceWest Perth WA 6005p +61 8...

ABN 88 002 522 009
34 Parliament Place
West Perth WA 6005
p +61 8 9488 5200
f +61 8 9321 6699
[email protected]
4 April 2007
Companies Announcement Office
Australian Stock Exchange Limited
20 Bond Street
SYDNEY NSW 2000
By E-Lodgement
INSTITUTIONAL PLACEMENT TO PROCEED
RANGE TO ACQUIRE 100% OF THE PUNTLAND PROJECT
Range Resources Limited is pleased to advise that it has received conditional
commitments for US$20m from institutional investors in the UK, Europe and the US
enabling the Company to proceed with the acquisition of the remaining 49.9% of the
Puntland Project. The placement was co-ordinated by UK specialist natural resources
broker Fox-Davies Capital Limited and offered to UK, US and European institutions.
The raising is conditional on Range completing the acquisition of the remaining 49.9%
of the Puntland rights from Consort Private Limited and the 20 to 1 share consolidation
as previously approved by shareholders. Range will now move to finalise all placing
and completion matters on an immediate basis.
The institutional placement previously approved by shareholders will be completed at
$0.025 per share with one (1) free attaching option ($0.05, 1 October 2010) for every
two (2) shares subscribed for. The placement is for approximately 987m shares (49.3m
post consolidation) and 493.8m options (24.7m post consolidation exercisable at
$1.00 on or before 1 October 2010).
The 20 to 1 consolidation of the Company’s capital will now proceed. A timetable for
the consolidation is set out below:
Event Date
Last day for trading in Pre-Consolidation Shares 4 April 2007
Trading in shares commences on a Deferred Settlement Basis 5 April 2007
Registration of Shares on Post Consolidation Basis 13 April 2007
Dispatch Date 16 April 2007
The Company looks forward to advising on formal completion of the placement, the
Consort acquisition and the share consolidation.
Yours sincerely
MIKE POVEY
Managing Director
For further information please contact:
Joanna Kiernan
[email protected]
+61 9488 5200