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Range Resources calls $8.9 million of 6% convertibles
Pittsburgh, July 2 - Range Resources Corp. will redeem all of its $8.9 million of outstanding 6% convertible subordinated debentures due 2007 at a price of $9.1 million, or 102% plus accrued interest, according to a company news release.
The redemption date is Aug. 1.
"By redeeming these debentures we are further simplifying our capital structure and eliminating the potential dilution, upon conversion, of 463,000 shares of common stock," president and chief executive officer John H. Pinkerton said in the release.
Range Resources is a Fort Worth, Texas, independent oil and gas company.
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