Range Resources in reshuffle

Shares in Range Resources have been suspended from quotation after two directors resigned from its board, pushing it below the level required under corporate law.

Directors David Riekie and Ian Olson have left the company, while company secretary Amy Just and chief operating officer William Duncan have also resigned.

The company announced that Yan Liu would commence as chief executive officer immediately, and would select new directors in due course.

Mr Liu was previously chief financial officer of China Rerun Chemical Group, which manufactured lubricant oil.

Previous director David Chen has been promoted to chairman.

Under an existing loan facility with Lind Asset Management, the company has three days to resume trading before the financer has the option to call in $US 5.5 million of loans.

Range said it expected to exceed that period and would be entering negotiations with Lind.

Shares in Range last changed hands at 10 cents, after sliding from more than 45 cents in mid-July.