Frontier Resources International Bonus Warrant Issue - Further Update (0926P)
15 February 2016 - 11:53PM
UK Regulatory
TIDMFRI
RNS Number : 0926P
Frontier Resources International
15 February 2016
For immediate release
15 February 2016
Frontier Resources International Plc
("Frontier" or the "Company")
Bonus Warrant Issue - Further Update
As previously announced, the Board of Frontier (AIM Ticker: FRI)
proposes (subject to completion of the subscription as notified on
5 February 2016) to issue new warrants ("Warrants") to existing
shareholders on the record date ("Qualifying Shareholders") on a
pro rata basis of one Warrant for every one Ordinary Share
("Qualifying Share") held (the "Warrant Bonus Issue").
As previously notified, the record date and time for the Warrant
Bonus Issue is 4.30pm on Monday, 15 February 2016 and the ex-date
and time is 8.00am on Tuesday, 16 February 2016.
The exercise price of the Warrants will be 0.03p per new
Ordinary Share.
The Warrants will be exercisable on the following three dates: 7
April 2016; 7 July 2016; and 7 October 2016. Any Warrants which
remain unexercised on 7 October 2016 will expire. No lapsed
proceeds will be due to Warrantholders following this date.
The Warrants will be CREST enabled and Qualifying Shareholders
who hold their Qualifying Shares in uncertificated form will have
their CREST accounts credited on 17 February 2016.
The Warrants' ISIN number is GB00BDD9SC27 and the SEDOL is
BDD9SC2.
No application will be made for the Warrants to be listed on any
exchange.
The instrument constituting the Warrants (which will be
available from the Company's website at www.friplc.com) contains
other provisions typically found in such instruments, including
those relating to the adjustment of the terms of the Warrants,
protections for holders of Warrants and the procedures for the
modification of the rights of the Warrants.
The Warrant Bonus Issue will not be extended to, and the
Warrants will not be issued to and may not subsequently be
exercisable by, US persons. Warrant certificates will not be sent
to the US.
Based on the current issued share capital of 361,999,056
Ordinary Shares, the Company will issue up to 361,999,056
Warrants.
Qualifying Shareholders who are in any doubt about the
implications of the Warrant Bonus Issue on their personal tax
position should consult their professional adviser.
Enquiries:
Frontier Resources
International Plc Tel: +44 (0) 020
Neil Herbert, Chairman 3475 8108
Beaumont Cornish (Nomad)
Michael Cornish Tel: +44 (0)20 7628
Emily Staples 3396
Beaufort Securities
Limited (Broker) Tel: +44 (0)20 7382
Jon Belliss 8300
A copy of this announcement is available from the Company's
website www.friplc.com
APPENDIX I
Timetable of key events
Event Expected date / time
--------------------------------- -----------------------
Warrant Bonus Issue Record Monday, 15 February
Date and time 2016 at 4.30pm
Warrant Bonus Issue Ex-Date Tuesday, 16 February
and time 2016 at 8.00am
Crediting of Warrants to Wednesday, 17 February
CREST accounts 2016
Despatch of Warrant certificates By 28 February 2016
--------------------------------- -----------------------
Note:
References to times in this announcement are to London time
unless otherwise stated. The dates set out in the outline timetable
above and mentioned throughout this announcement may be adjusted by
the Company, in which event the details will be notified to the
London Stock Exchange and, where appropriate, to Shareholders.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFSFFTIELIR
(END) Dow Jones Newswires
February 15, 2016 07:53 ET (12:53 GMT)
Frontier Res. (LSE:FRI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Frontier Res. (LSE:FRI)
Historical Stock Chart
From Sep 2023 to Sep 2024