Range Resources Ltd (LON:RRL) ASX delisting & Drilling rigs sale update

Range, an international company with oil and gas projects and oilfield service businesses in Trinidad and Indonesia, confirms that in line with its announcement on 24 October 2019, it has been removed from the official list of the Australian Stock Exchange (“ASX”) today.

No change will occur to the quotation and trading of the Company’s shares on the AIM market operated by the London Stock Exchange plc (“AIM”).

The Company also confirms that effective 25 November 2019, it has adopted the UK’s QCA Corporate Governance Code for Small and Mid-Size Quoted Companies (the “QCA Code”), in replacement of the ASX’s Corporate Governance Council’s Corporate Governance Principles and Recommendations 3rd Edition, as the basis for its corporate governance. The updated Corporate Governance Statement and Corporate Governance Plan are available on the Company’s website www.rangeresources.co.uk.

DRILLING RIGS SALE UPDATE

Range, an international company with oil and gas projects and oilfield service businesses in Trinidad and Indonesia, provides an update in relation to the sale of four drilling rigs and related equipment of its subsidiary Range Resources Drilling Services Limited (“RRDSL”), as announced on 23 October 2019.

The buyer has undertaken a final inspection of the rigs on 22 November 2019. The Company is now awaiting the payment of the agreed cash consideration from the buyer of US$3.6 million plus late fees calculated at US$3,600 per day imposed from 23 November until closing occurs. The closing date has been extended to 10 December 2019. The Company will provide a further update upon closing.


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