Range International Secures AU$575K Loan to Bolster Reinstatement Efforts

Highlights

• Loan Facility Established: Range International Limited (ASX: RAN) secured A$575,000 in loan facilities provided by directors, management, and associated entities on commercial terms.
• Key Loan Terms: Two-year term, 14% annual interest, and a 1% establishment fee, with no security or conversion rights.
• ASX Reinstatement Goal: The facility aims to strengthen RAN’s financial position and facilitate its securities' reinstatement to the ASX Official List.

Loan Details

Range International Limited, the manufacturer of Re>Pal™ plastic pallets, announced the establishment of A$575,000 in unsecured loan facilities after market close on December 24, 2024. The loans carry a 14% annual interest rate and a two-year term. A 1% establishment fee is applicable upon the first drawdown, but the loans lack security or conversion rights.

The facility agreements also include standard warranties and termination clauses tied to ASX reinstatement, default events, or a change in control.

Efforts Toward ASX Reinstatement

RAN's securities, suspended for nearly two years, face automatic delisting under ASX rules on December 28, 2024. However, the company has engaged closely with ASX to meet compliance requirements under Chapter 12 of the Listing Rules.

RAN has provided the requested documentation and awaits ASX confirmation for reinstatement. The loan facilities are part of broader efforts to enhance financial stability and regain its position on the ASX.

At the time of writing, the company remains optimistic about meeting ASX's requirements and securing its relisting.

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