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RANGE INTERNATIONAL LIMITED — Capital/Financing Update 2021
Sep 16, 2021
65662_rns_2021-09-16_d1d8df96-ed5e-4ed4-a4e8-ad998fce51f9.pdf
Capital/Financing Update
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17 September 2021
Market Announcements Office Australian Securities Exchange Level 5, 20 Bridge Street Sydney NSW 2000
Results of Entitlement Offer
The Board of Range International Limited (ASX: RAN) ( Company or Range ) is pleased to announce the successful completion of the fully underwritten A$3.6m non-renounceable entitlement offer announced by the Company on 25 August 2021 ( Entitlement Offer ).
Under the terms of the Entitlement Offer, eligible shareholders were invited to apply for 1 new fully paid ordinary shares in the Company ( Offer Shares ) at an issue price of $0.008 per Offer Share for every 1 existing Share held as at 7:00pm (AEST) on Monday, 30 August 2021 ( Record Date ) to raise $3,610,971 (before costs and subject to rounding). The Entitlement Offer closed at 5:00pm (AEST) on Tuesday, 14 September 2021.
The Entitlement Offer was well supported, with acceptances from eligible shareholders totalling $1,848,326.81. The results of the Entitlement Offer are set out in the table below.
| Number of Offer Shares offered under the Entitlement Offer | 451,371,444 |
|---|---|
| Number of Offer Shares for which valid applications were received andaccepted | 231,040,804 |
| Number of Offer Shares for which valid applications were not received andaccepted (Shortfall Shares) | 220,330,640 |
As set out in the Entitlement Offer Booklet lodged by the Company with the ASX on 2 September 2021, the Entitlement Offer was fully underwritten by Peak Asset Management, Ridge Capital, Alluvion Capital and Richard Jenkins, a Director of the Company (together, the Underwriters ). Pursuant to the terms of their respective underwriting arrangements, the allocation of Shortfall Shares to each Underwriter is to be on a pro rata basis in accordance with the proportion of their respective commitments. Accordingly, the allocation of the Shortfall Shares is set out in the table below.
| Underwriter | Number of Shortfall Shares |
|---|---|
| Peak Asset Management | 109,830,594 |
| Richard Jenkins | 49,483,049 |
| Ridge Capital | 40,881,388 |
| Alluvian Capital | 20,135,609 |
| TOTAL | 220,330,640 |
RANGE INTERNATIONAL LTD ACN 611 998 200 | Level 5, 126 Phillip Street Sydney, NSW 2000 | www.rangeinternational.com
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The Offer Shares and Shortfall Shares issued under the Entitlement Offer will rank equally in all respects with existing RAN Shares. The Company anticipates issuing the Offer Shares on 20 September 2021 and the Shortfall Shares to the Underwriters on 21 September 2021. Accordingly, following the issue of the Offer Shares and Shortfall Shares, the Company’s total issued share capital will be 902,742,888.
This announcement has been authorised by the Board of Directors of the Company.
For any questions, please contact the undersigned on +61 2 8272 1400.
Yours faithfully
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David Hwang Company Secretary
RANGE INTERNATIONAL LTD ACN 611 998 200 | Level 5, 126 Phillip Street Sydney, NSW 2000 | www.rangeinternational.com