Its possible a new sub company is set up for ukraine. That would be fairly normal for managing differet assets in different countries but all under the umbrella of frontera. I will say thou that txo financed private companies with sbareholders money. They then closed txo leaving their private companies in place. They did quite nicely. Different to whats happening here.
There needs to be shareholder approval for any asset to be transferred from one entity to another, it appears that the international company is a subsidiary.
We are currently Cayman registered which also causes issues, firstly the G8 have a mandate on tax havens are clamping down on tax havens globally, secondly it would be far easier to raise funds in a U.S registered entity than a Cayman registered entity that the G8 may take an interest in for the reasons above. I'm sure Soros and his hedge funds would rather place with the security of Frontera being associated with the U.S. Add to this uncertainty in the black sea basin and a U.S company may be seen to have greater protection than one based in the Caymans.
The directors also recently bought shares in FRR not this newly registered company which was set up prior to the director purchases in FRR, and they also have a significant holding over and above this once again in FRR so would be shooting themselves in the foot somewhat if they had alternative plans.
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