Frontera Resources Corporation Conversion of Convertible Shares (2519B)
08 January 2018 - 11:37PM
UK Regulatory
TIDMFRR
RNS Number : 2519B
Frontera Resources Corporation
08 January 2018
08 January 2018
Frontera Resources Corporation
("Frontera" or "the Company")
Conversion of Convertible Shares
Frontera Resources Corporation (AIM: FRR), the European focused
independent oil and gas exploration and production company, today
announces that on 5 January 2018 it received a conversion notice
for the month of January 2018 from YA II PN, Ltd. ("YA") to convert
400 Series A Preferred Convertible Shares ("Convertible Shares")
out of its outstanding total of 4400 Convertible Shares. Pursuant
to the terms of the agreement with YA, conversion will be made at a
price of 0.43 pence, which will result in the issue of 68,613,953
new ordinary shares ("New Ordinary Shares") to YA. The agreement
with YA contains a limitation of a maximum of 1,300,000,000
ordinary shares ("Ordinary Shares") that YA is entitled to convert
before 16 June 2018. Following this conversion, 1,105,903,921
Ordinary Shares out of agreed 1,300,000,000 will have been
converted and issued to YA. Accordingly, YA may only convert a
further 194,096,079 Ordinary Shares before 16 June 2018.
Application will be made for New Ordinary Shares to be admitted
to trading on AIM, which is anticipated to occur on or around 15
January 2018 ("Admission"). The New Ordinary Shares will rank pari
passu with the existing Ordinary Shares of the Company.
Following Admission, the Company will have 14,698,412,376
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 14,698,412,376 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.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Frontera Resources (713) 585- 3216
Zaza Mamulaishvili
info@fronteraresources.com
Cairn Financial Advisers
LLP +44 (0) 20 7213 0880
Jo Turner / Liam Murray
WH Ireland Limited +44 (0) 20 3411 1880
James Joyce / Alex Bond
Yellow Jersey +44 (0) 203 735 8825
Tim Thompson
Harriet Jackson
Henry Wilkinson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 08, 2018 07:37 ET (12:37 GMT)
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