13 Apr 2016 08:28
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Frontera Resources Information
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Don't have an account? Click here to register.Frontera Resources agrees payment plan with Yorkville Advisors
Fri, 19th Oct 2018 10:50
(Sharecast News) - Frontera Resources and investment company Yorkville Advisors agreed to resolve their differences as the pair retracted and released each other from their mutual claims.The AIM-listed outfit, which raised "serious concerns" over the Cayman Islands-based fund's calculations, on Friday announced a restructuring of its outstanding Series A shares redemption schedule that will see all 2,650 remaining shares redeemed on a monthly basis commencing 1 November.Yorkville's YA II PN fund had raised objections after Frontera moved to making monthly cash redemption payments to redeem YA's $2.89m of convertible shares held as part of a previous loan provided to oil explorer.Frontera has now agreed to make cash redemption payments to YA of $64,900 a month until 1 April 2019 before upping the payments to $149,600 per month until 1 July 2019. Frontera will then make a lump sum redemption payment of $2.14m on 1 July 2019 in order to redeem all the outstanding shares.Chief executive Zaza Mamulaishvili, said: "As a result of this settlement, the inconvenient overhang of monthly conversion has been removed, which should positively reflect on the company's share price and market position going forward.""The company is moving on with paying down the remaining balance to YA by way of cash redemption and without recourse to the conversions, as was the case in the past."As of 1045 BST, Frontera shares had shot up 10.33% to 0.42p.
More News
7 Apr 2016 14:47
Positive progress for Frontera Resources at South Kakheti
(ShareCast News) - Independent oil and gas explorer and producer Frontera Resources updated the market on positive progress at its South Kakheti Gas Complex on Thursday, situated within its upstream portfolio in Georgia. The AIM-traded company had announced the commencement of operations within the
Read more25 Feb 2016 15:29
Frontera settles bills with new share issue
(ShareCast News) - Frontera Resources settled some sizeable bills on Thursday, through the issue of 100 million new ordinary shares. The AIM-traded independent oil and gas exploration and production company said the issue was for the settlement of $736,000 (£529,000) in fees, due to "certain unrelat
Read more9 Feb 2016 15:00
Frontera Resources solidifies move into Ukraine
(ShareCast News) - Frontera Resources moved to solidify its expansion into Ukraine on Tuesday, signing a memorandum of understanding (MOU) with UkrGasVydobuvannya (UGV), a subsidiary of the country's national energy company Naftogaz. The AIM-traded independent oil and gas exploration and production
Read more23 Dec 2015 11:07
Frontera Resources ups gas-in-place estimate for Georgia complex
(ShareCast News) - Oil and gas exploration and production company Frontera Resources upgraded its estimate for the gas in place at its South Kakheti Gas Complex in Georgia. Frontera said that since its announcement in October, it has carried out extensive geologic and geophysical studies and it has
Read more17 Jul 2015 09:37
Ukraine has 12.5 bcm of gas in reserves, considers LNG
KIEV, July 17 (Reuters) - Ukraine has collected 12.5 billion cubic metres (bcm) of gas in underground storage as of July 17, still short of the 18-19 bcm it aims to have in reserve before mid-October, the country's gas transport monopoly said on Friday. Ukraine is pumping about 32 million c
Read more15 Jul 2015 08:05