Range International Limited (ASX:RAN) has disclosed the results of its non-renounceable pro rata entitlement offer, receiving valid applications for 10,408,829 new fully paid ordinary shares and raising approximately A$936,795 before costs, against a target of up to approximately A$1.69 million before costs.

Key Points

  • The Entitlement Offer closed at 5.00pm AEDT on 6 November 2026, following extensions previously announced to the market.
  • Valid applications totalled 10,408,829 new shares, raising approximately A$936,795 before costs, including 1,553,303 shares accepted under the Top-Up Facility.
  • A shortfall of 8,328,601 shares remains, representing potential proceeds of A$749,574.09 if fully placed at the Board's discretion.
  • Existing directors subscribed for A$285,878.62 of their entitlements as part of applications received before the closing date.
  • New shares are expected to be issued on 13 November 2026, with ASX quotation expected to commence on 16 November 2026.

Entitlement Offer Structure and Closing Results

The Entitlement Offer was structured as a one-for-one non-renounceable pro rata offer, with each eligible shareholder entitled to subscribe for one new fully paid ordinary share for every one existing share held, at an issue price of A$0.09 per new share. The offer was originally announced on 1 October 2026. Total applications of 10,408,829 new shares generated gross proceeds of A$936,794.61 before costs. The combined total of applications received and remaining shortfall shares stands at 18,737,430 shares, equating to A$1,686,368.70, as disclosed in the company's results summary table.

Shortfall Shares and Potential Further Placement

Following the close of the Entitlement Offer, 8,328,601 new shares remain as shortfall shares, representing potential gross proceeds of A$749,574.09 if fully placed. According to the filing, the Board may place these shortfall shares at its discretion in accordance with the terms of the Shortfall Offer outlined in the Offer Booklet lodged with ASX on 9 October 2026. The company stated there is no guarantee that the shortfall shares will be issued, but noted it has received interest from potential investors and will continue to update the market in accordance with its continuous disclosure obligations.

Share Issuance and ASX Quotation Timetable

New shares issued under the Entitlement Offer, including those allocated under the Top-Up Facility, are expected to be issued on Friday, 13 November 2026. Quotation of the new shares on ASX is expected to commence on Monday, 16 November 2026. The company stated it will lodge an Appendix 2A in respect of the new shares. Executive Chairman and interim CEO Richard Jenkins noted the company continues to gain momentum in its rental business and referenced the company's objective to consolidate its foundations for continued growth in 2027, as stated in the filing.