HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 11.Jul.2025, Words: 220) — Frontera Energy Corporation revealed preliminary results of its substantial issuer bid pursuant to which it offered to purchase from shareholders for cancellation up to CAD$91mn (equivalent to $65mn) of its outstanding common shares at a purchase price of CAD$12 per share.
Other details, revealed by Frontera on 11 Jul. 2025 in an official statement, include:
— the offer expired at 5pm (Eastern time) on 10 Jul. 2025;
— in accordance with the terms and conditions of the offer and based on the preliminary calculation of Computershare Investor Services Inc., as depositary for the offer, Frontera expects to take up and pay for 7,583,333 shares (9.77% of the total number of Frontera’s issued and outstanding shares as of 10 Jul. 2025) at the purchase price;
— 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anticipates 70.06 million shares will be issued and outstanding. 71,929,705 shares were validly tendered and not withdrawn;
— since the offer was oversubscribed, the tendered shares will be purchased on a pro rata basis following the determination of the final results of the offer. Frontera currently expects that shareholders who tendered will have approximately 10.54% 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.
