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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Frontera Res | LSE:FRR | London | Ordinary Share | KYG368131069 | ORD SHS USD0.00004 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.2875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFRR
RNS Number : 1966R
Frontera Resources Corporation
19 September 2017
19 September 2017
Frontera Resources Corporation
("Company")
Conversion of Series A Preferred Convertible Shares into Ordinary Shares
Frontera Resources Corporation (AIM: FRR), a European focused independent oil and gas exploration and production company, today announces that it has received a conversion notice from YA II PN, Ltd. ("YA") to convert 400 Series A Preferred Convertible Shares ("Convertible Shares") out of its outstanding total of 6,000 Convertible Shares.
Pursuant to the terms of the agreement with YA, conversion will be made at a price of 0.09 pence and will result in the issue of 337,377,777 new ordinary shares.
The agreement with YA contains a limitation of a maximum of 1,300,000,000 ordinary shares that YA is entitled to convert before 16 June 2018. Following this conversion, 787,333,982 Ordinary Shares out of agreed 1,300,000,000 have now been converted and issued to YA. Accordingly, YA may only convert a further 512,666,018 ordinary shares before 16 June 2018.
Application will be made for 337,377,777 new ordinary shares ("New Ordinary Shares") to be admitted to trading on AIM, which is anticipated to occur on 25 September 2017 ("Admission"). The New Ordinary Shares will rank pari passu with the existing ordinary shares of the Company.
Following Admission, the Company will have 13,776,394,161 ordinary shares in issue with voting rights. The Company does not hold any ordinary shares in treasury and accordingly there are no voting rights in respect of any treasury shares. The aforementioned figure of 13,776,394,161 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the disclosure requirements applicable to the Company.
Enquiries:
Zaza Mamulaishvili
(713) 585-3216
info@fronteraresources.com
Nominated Adviser:
Cairn Financial Advisers LLP
Jo Turner / Liam Murray
+44 (0) 20 7213 0880
Broker:
WH Ireland Limited
James Joyce / Alex Bond
+44 (0) 207 220 1666
Financial PR:
Yellow Jersey
Tim Thompson
+44 (0)203 735 8825
Frontera@yellowjerseypr.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
September 19, 2017 10:27 ET (14:27 GMT)
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