Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

“New” Range Resources gave away 1.14% of company in fees

By Ben Turney

24 July 2014 10:59

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I’ve waited a few days before reporting on Range Resources’ (RRL) announcement on Friday. I wanted to see if a holdings RNS was released. So far it hasn’t been, but more on this another day. In the meantime it is worth focussing on the various share payments that Range made at the end of last week. I’ve received a lot of comments from Range’s shareholders about “New Range”. This might be true. Perhaps Rory Scott Russell is a genuine breath of fresh air. The current 2.1p share price at least suggests he might be. The problem with this line of argument is that Friday’s RNS was very much “Old Range”, as shareholders lost 1.14% of their company in share payments made to settle fees on old debts and, what appears to be, a new mystery consulting agreement.

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Comments

bobby c

24 July 2014, 15:49

Cheers Ben.

I find the RRL RNS’s incredibly difficult to read and I do have as you mentioned a certain sort of fatigue when reading these issue of equity releases. Its just another few 000,000’s isn’t it?

Keep up the good work.
Mark

24 July 2014, 22:23

New Range dealing with the old hopefully, please on your next Range article could you use the “new” Range logo ;-)