Range Resources (ASX:RRS, LON:RRL) has told investors that the conditions for the repayment of a loan to International Petroleum (IOP) have been met.
IOP made a US$500,000 cash payment to Range and the remaining debt has been converted into shares, giving the AIM quoted company 147.8mln shares or 9% of IOP.
Additionally Range said that IOP expects the trading of its shares to be restored on the National Stock Exchange of Australia within the current quarter.
News: Range Resources gets IOP cash payment
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