Range Resources Limited Termination of ADR Programme (9067K)
13 July 2017 - 4:00PM
UK Regulatory
TIDMRRL
RNS Number : 9067K
Range Resources Limited
13 July 2017
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via Regulatory Information Service
("RIS"), this inside information is now considered to be in the
public domain.
Termination of American Depository Receipt ("ADR") Programme
Range announces the decision to close its ADR programme
effective 17:00 (Eastern Time) on August 7, 2017. Trading volumes
of ADR's have been insufficient to justify the burden of
maintaining the listing with no increase in liquidity being
provided to the Company.
Under the terms of the Deposit Agreement, owners and holders of
ADRs will have until at least August 10, 2018 to decide if they
would like to attempt to surrender their Range ADRs for delivery of
the underlying shares.
Subsequent to August 10, 2018, under the terms of the Deposit
Agreement, the Bank of New York Mellon ("the Depositary") may
attempt to sell the underlying shares. ADR holders will then
receive the net cash proceeds from the sale of the shares held on
deposit.
Holders of the Company's ordinary shares remain unaffected by
this development. Following completion of the reverse takeover
process, the ordinary shares of Range will continue to trade on the
AIM and on the ASX.
Further information for ADR holders can be found on the Bank of
New York Mellon website at
https://www.adrbnymellon.com/directory/dr-directory.
Contact Details
Cantor Fitzgerald Europe
Range Resources Limited (Nominated Advisor and
Evgenia Bezruchko (Group Corporate Broker)
Development Manager) David Porter / Sarah Wharry
e. admin@rangeresources.co.uk (Corporate Finance)
t. +44 (0)20 3865 8430 David Banks (Corporate
Broking)
t. +44 (0)20 7894 7000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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