Post by RIG Admin on Dec 1, 2014 21:12:24 GMT
All,
We are happy to announce that we have today passed 1 billion shares held by RIG members. Since our inception in October 2013 we have been steadily growing in size and now have 875 members. It is a sobering thought that our 1 billion shares would have represented 32% of the company's shares in issue when RIG started but now accounts for 20%.
Over its short lifetime RIG's objectives have remained unaltered - to improve bilateral communications between the company and its shareholders and to facilitate the process of its members placing their votes at General Meetings in whichever way they choose.
We have had qualified success - the company has agreed to our requests for quarterly investor calls and for General Meetings being held in the UK and we have had Q&A answered (albeit misleadingly) by Range management. However our core request of more frequent, regular and standardised reporting of operations and production has not been delivered and we will be pressing again for this to be remedied by Range's new management.
Encouragingly in terms of shareholder turnout at General Meetings, since RIG's inauguration this figure has increased from 6% in the GM before RIG commenced, to 26% in Friday's AGM (1.3bn votes cast of 5.0bn shares). To clarify, although Abraham's voting was decisive in resulting in the departure of many board members it is notable that without their vote although most resolutions would have been passed several would not - reflecting the sizeable impact and varied voting of Private Investors.
Despite the catastrophic wealth erosion experienced by our members, we have always behaved professionally and constructively with the company and will do so again with new management. We will do our utmost to impress upon them the requirements of our members to:
• Increase production
• Divest non-core assets
• Decrease waste and extravagant SG&A costs
• Reduce dilutative equity placements and premium convertible debt
• Increase the woeful share price, and
• Improve communications with the private investor base who account for c.80% of the company's ownership.
We are encouraged by the approach taken so far by new management and will liaise with them to establish an agreed framework of interaction with RIG so that we can act as a conduit for our members' concerns but above all so that communications are improved for all shareholders. We note that Range has come out of suspension and we will be communicating to the company their need to support the share price by providing certainty on future personnel, operations and funding if they are to bring private investors with them.
We would like to thank all members for your support - please keep the feedback coming.
Best regards,
The RIG Representatives
We are happy to announce that we have today passed 1 billion shares held by RIG members. Since our inception in October 2013 we have been steadily growing in size and now have 875 members. It is a sobering thought that our 1 billion shares would have represented 32% of the company's shares in issue when RIG started but now accounts for 20%.
Over its short lifetime RIG's objectives have remained unaltered - to improve bilateral communications between the company and its shareholders and to facilitate the process of its members placing their votes at General Meetings in whichever way they choose.
We have had qualified success - the company has agreed to our requests for quarterly investor calls and for General Meetings being held in the UK and we have had Q&A answered (albeit misleadingly) by Range management. However our core request of more frequent, regular and standardised reporting of operations and production has not been delivered and we will be pressing again for this to be remedied by Range's new management.
Encouragingly in terms of shareholder turnout at General Meetings, since RIG's inauguration this figure has increased from 6% in the GM before RIG commenced, to 26% in Friday's AGM (1.3bn votes cast of 5.0bn shares). To clarify, although Abraham's voting was decisive in resulting in the departure of many board members it is notable that without their vote although most resolutions would have been passed several would not - reflecting the sizeable impact and varied voting of Private Investors.
Despite the catastrophic wealth erosion experienced by our members, we have always behaved professionally and constructively with the company and will do so again with new management. We will do our utmost to impress upon them the requirements of our members to:
• Increase production
• Divest non-core assets
• Decrease waste and extravagant SG&A costs
• Reduce dilutative equity placements and premium convertible debt
• Increase the woeful share price, and
• Improve communications with the private investor base who account for c.80% of the company's ownership.
We are encouraged by the approach taken so far by new management and will liaise with them to establish an agreed framework of interaction with RIG so that we can act as a conduit for our members' concerns but above all so that communications are improved for all shareholders. We note that Range has come out of suspension and we will be communicating to the company their need to support the share price by providing certainty on future personnel, operations and funding if they are to bring private investors with them.
We would like to thank all members for your support - please keep the feedback coming.
Best regards,
The RIG Representatives
