Range Resources confirms $30m convertible note financing

8th Feb 2017 14:14

(ShareCast News) - Shares in Range Resources are up almost 9% as it confirmed all conditions for a $30m convertible note financing have been met.This followed shareholder approval at a general meeting on Tuesday.The convertible note was to replace a portion of the outstanding payable balance due to LandOcean Energy Services Co., Ltd., under the Integrated Master Services Agreement.Range said the convertible note agreement was entered on 31 October, 2016, at which time the outstanding payable balance to LandOcean was $35.9m.At about 13:16 GMT, shares in AIM-quoted Range were up 8.91% to 0.38p.