RRS 0.00% 0.1¢ range resources limited

The 640m are NOT Range shares. They function similar to shares...

  1. 478 Posts.
    The 640m are NOT Range shares. They function similar to shares in a number of ways- basically every one of these 640m 'US-shares' that is held will reduce the number in circulation on the AIM/ASX by one- but no 'accumulation' has been needed to this. Basically, it's like this:

    2 billion 'real' shares on the ASX/AIM

    AND

    640m 'US-shares' on the OTC market.

    Each of the 'US-shares' bought will reduce the number in circulation on the AIM/ASX, but the listing is not 'real' shares. Basically what's happening is Americans are now given the option to buy up to 640m Range shares, if they want to. In the highly unlikely event all 640m and bought and held (i.e not traded), then effective free float on the AIM/ASX will be 640m less shares.

    But they won't all be held. Trade will take place there as it does here and on the AIM. And there's no manipulation of stock required to give someone an option to buy these 'things' (they're not shares, but they're not options either). For every 1 bought, 1 'share' gets taken off the ASX/AIM and held in deposit.

    It will probably reduce the freely avaliable float somewhat, and is generally a good move, but this isn't manipulation folks. Loads of companies get listed on alternative exchanges- are you honestly suggesting to me they're all manipulated?

    Rather than worrying about this alleged manipulation, worry about the results of drills, and about Range's ability to deliver on what they promised. Because it's that that's been keeping the share price down so far.
 
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