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Range Resources

RNS - LO interest payment made by convertible bond

(ASX:RRS / AIM:RRL / PINK:RGRLF & RGRYY)
Informed Discussion. No ramping. No deramping.

Re: RNS - LO interest payment made by convertible bond

Post Thu Dec 20, 2018 3:11 pm

doesn't look dilutive (perhaps purposefully to avoid "takeover law")

1,684,140,384 added to the already 7.5bil shares , will make 9bil give or take

thus after 1.6bil is on , LO will have 17.7% share in Range.

not sure what this means for the longer play , but this might help with negotiations on the longer term future of Range avoiding bankcruptcy wth the $60mil that's due in April 2020 now that LO will have an important stake in the business.

gl to you all that are still in here
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Invester_Tester
 
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Re: RNS - LO interest payment made by convertible bond

Post Mon Jan 07, 2019 2:30 pm

Whatever else is going on with Range and the abysmal share price at the moment it is clear that LO must see something positive for the future of RRL or they would not be as accommodating as they are being.
Celticheart07
 
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Joined: Jul 2013
Location: Wales

Re: RNS - LO interest payment made by convertible bond

Post Mon Jan 07, 2019 5:48 pm

LO are caught between a rock and a hard place with RRL debt. None of the debt is secured against assets or equipment. My worry is "are LO gradually buying up shares?" Someone is and by my calculations it amounts to 4-500 million shares in the 2nd half of last year. The buying pattern is there with the multi million purchases that are happening too regularly not to be being bought by the same buyer.
Is there a point reached with LO's shareholding that they can force Range into administration? The oil reserves are worth about 120 million
Nedkellylandau
 
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Location: Lost on the Range

Re: RNS - LO interest payment made by convertible bond

Post Mon Jan 07, 2019 6:26 pm

Or is there a point at which LO will make a bid for the company?
Celticheart07
 
Posts: 206
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Location: Wales

Re: RNS - LO interest payment made by convertible bond

Post Tue Jan 08, 2019 6:09 pm

The "oil reserves" are worth a big fat ZERO, as it has never been proved that they can be removed profitably!!!!!!!!!!
LO have dug a bigger hole than Range have ever managed to drill & there is no easy solution for them to dig themselves out of it - certainly not with their drilling staff, who probably only work a few months of the year, in between cricket or footie (depending on season)!!!!!!
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enfranglais
 
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Re: RNS - LO interest payment made by convertible bond

Post Wed Jan 09, 2019 9:46 pm

If Range are to be taking over, what price would we expect to be offered?

I really hope it’s over 1p otherwise it will be very depressing and mean I lose money which will be a tad annoying.

Really appreciate any comments
Martini069
 
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