Frontera Completes Additional Substantial Issuer Bid

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HOUSTON, TEXAS (Editors at Energy Analytics Institute, 28.Jan.2025) — Frontera Energy Corporation has taken up and paid for 3,500,000 of its outstanding common shares at a price of CDN$12 per share. This is under an additional substantial issuer bid pursuant to which Frontera offered to purchase from shareholders for cancellation up to CDN$42mn (equivalent to $30mn) of shares.

The shares taken up and paid for represent 4.33% of the total number of Frontera’s issued and outstanding shares as of 24 Jan. 2025, Frontera’s chairman of the board Gabriel de Alba said 28 Jan. 2025 in an official company statement. 

Alba said the aggregate purchase price is equal to CDN$42mn. After the cancellation of the Shares taken up and paid for by the Company, Frontera anticipates that 77.29mn shares will be issued and outstanding.

Frontera said 73,083,094 shares were validly tendered and not withdrawn. And, as the offer was oversubscribed, the tendered shares will be purchased on a pro rata basis. Shareholders who tendered will have 4.79% of their tendered shares purchased by the company.

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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved. 

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Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.

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