Range Resources’ (ASX:RRS, LON:RRL) shares were suspended Monday...

Range Resources’ (ASX:RRS, LON:RRL) shares were suspended Monday after four board members including chief executive Rory Scott Russell were not re-elected at the AGM.

As well as Scott Russell, chairman Graham Lyon, and non-execs Christian Bukovics and Marcus Edwards-Jones failed to be re-elected.

The board then only comprised David Riekie and Ian Olson and as such is not validly constituted under Australian law. Two representatives from the company's largest shareholder, Abraham Limited, are set to join the board.

Trading in the company's shares is expected to resume once these appointments have been finalised and the company is satisfied that its board is of an appropriate size and composition, a statement today said.

This afternoon Mr David Yu Chen and Ms Juan (Kiki) Wang, the Abraham appointees, were announced as the new additions to the Range board with immediate effect.

It was also confirmed by Range that Core Capital Management, which last month agreed to provide US$50mln of funding, has not changed its position and it wishes to proceed with a long term investment into the company, subject to final due diligence.

Range did, however, tell investors that because of the changes to its board that the financing deal may not close within the previously announced timetable.