PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 15.Jul.2025, Words: 291) — Frontera Energy Corporation has taken up and paid for 7,583,333 of its outstanding common shares at a price of $12 per share under its substantial issuer bid pursuant to which the company offered to purchase from shareholders for cancellation up to $91mn (equivalent to approximately $65mn) of shares.
RELATED: EAI brief: Frontera reports preliminary results of substantial issuer bid
“With the completion of this Offer, Frontera has returned more than US$144 million to shareholders over the last twelve-month period, through its substantial issuer bids, dividends and share repurchases. With an over 90% consistent participation rate, the Company´s capital distribution strategy has proven effective and well received by our shareholders.
Frontera remains committed to its strategy of unlocking and returning value to its shareholders. The Company will continue to consider similar investor-focused initiatives in 2025 and beyond, including potential additional dividends, distribution, share or bond buybacks based on the overall results of the businesses, oil prices, cash flow generation and potential strategic transactions involving the Infrastructure business.”
Frontera chairman of the board Gabriel de Alba
The shares taken up and paid for by the company represent 9.77% of the total number of Frontera’s issued and outstanding shares as at 10 Jul. 2025. The aggregate purchase price is equal to $91mn. After the cancellation of the shares taken up and paid for by the company, Frontera anticipates 70.06 million shares will be issued and outstanding.
71,923,788 shares were validly tendered and not withdrawn. Since the offer was oversubscribed, the tendered shares will be purchased on a pro rata basis. Shareholders who tendered will have 10.54% of their tendered shares purchased by the company.
____________________
By Piero Stewart reporting from Panama City. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
