Member Info for jester16

I wonder what he would of done with those 500 mill shares? I would of give him them and said 2 year lock in period then see if he vetoed that.

Is there any major shareholders who hold Frr and if so who? Cannot find anything with regards this.

That's why I said farm in.. and in reply to your answer cristaball is show some facts to back up your verbal diarrhoea.

I doubt dividends will be here for the foreseeable. Let's get the field up and running first and don't forget there will be a placing. So it wouldn't make sense to give money away when your planning a placing. Give it a year...

They could farm in which would be better give them 40% for a set amount. We'd still have 60% and still going doesn't make sense unless there's more to this hope than we know let's see what comes out in court he might of blocked everything we was trying to do to keep the company going as a business. Let's hope he's complicit and its his fund that goes tits up but I doubt it will come to that...

Keep faith hopefully things will come good.

May 2017, the Company approved the conversion of the related party notes payable into equity. Directors of the Company, Mr. Steve Nicandros (via an entity controlled by him) and Mr. Zaza Mamulaishvili, entered into note exchange agreements to eliminate approximately $26 million related to loans by the executives' advances to the Company. These loans were previously provided to the Company to support the Company's on-going operational and working capital requirements. The conversion was completed on June 30, 2017. Pursuant to the terms of the note exchange, there is a twelve month lock-in period on the sale of the new ordinary shares that Mr. Nicandros and Mr. Mamulaishvili received as a result of the conversion.

Frontera Resources Corporation (AIM: FRR), an independent oil and gas exploration and production company ("Frontera" or the "Company"), is pleased to announce that, further to the announcement of 25 July 2016, it has restructured  the 10% notes (the "Old Notes") issued by Frontera Resources Holdings LLC ("FRH"), a wholly-owned subsidiary of the Company, on 1 August 2011.  This restructuring has been effected by exchanging the Old Notes which had maturity date of 1 August 2016, to new notes ("New Notes") which have maturity date of 1 August 2020.  The New Notes are issued by Frontera International Corporation, a fully-owned subsidiary of the Company, and bear interest rate of 10 per cent.  if paid in cash or 12 per cent. if paid in-kind with additional notes at the Company's election.  The New Notes, which are not convertible into ordinary shares of the Company, are secured and, in aggregate, have a face value of $30,063,276 and an effective date of 1 August 2016.  Other than the terms described above, the terms of the New Notes remain materially unchanged as previously announced. In furtherance of the restructuring, all previously announced legal proceedings related to the Old Notes will now be dismissed.

 

Steve C. Nicandros, a director of the Company, held a minority interest in the Old Notes and therefore the exchange of these notes for New Notes is considered to be a related party transaction pursuant to AIM Rule 13.   The independent directors of the Company, having consulted with the Company's nominated adviser, Cairn Financial Advisers LLP, consider the terms of the loan notes to be fair and reasonable insofar as shareholders are concerned.

What's this all about is this the new notes that are a problem with sn a minority holder?

The thing that irks me he's not the original note holder he bought these at a depressed price I believe. So I'd tell him to do one if you can buy them at a depressed price so can we. We'll make an offer for them.

No this is unique and shouldn't happen it's scandalous it's been allowed by something that went on in the 2016 case. He's definitely looking after himself ulterior motive that hopefully there's evidence to support all the way back to when he first became a bod member. Gla

We won't hear much until 13th of Jan because of directors buying? Could be even later due to the options on the 17th. But it will come good eventually. Gla

I wouldn't be surprised if he has submitted a defence this gets leaked to the trolls and we hear about it if not you can only assume is defence ain't that good otherwise we'd have the same crap we had last weekend gla. It's just one way of looking at it

The thing is once a deal is struck everyone will want a piece of the pie so how much will we actually get in percentage wise. I know each deal will be different but I can't see our percentage being that high after all we are in a consortium?

Not being negative but we can ask these questions at the AGM and get answers straight from the horses mouth. He's refused funding because he stated that he'll avoid dilution with his financial structure which he said they have in place. So you have to admire him for sticking to his guns.

I'll be surprised if they let this go knowing a placement is coming but let's see.

To escalate sp. It's only at this price because of uncertainty. But those that want to invest will only invest at the cheapest possible price otherwise they will not invest. Gla it's the way business works let's see

I'd like to know is how much this 10% Is going to cost if say it's 15 mill that should mean we are looking at 150/200mill or more ( you wouldn't buy 10% for 15mill and sell for 15mill you'd make a profit.) Bring it on. These are only hypothetical figures gla

Have a read they are looking for $10 mill on this exchange so gla. Must mean the bh have accepted the deal.

Is equal to 7.9 mill pounds which if there is a placement that would mean 131 mill new shares at 6p

I'd say buy gla