November 26 2014
FRONTIER RESOURCES INTERNATIONAL PLC
("Frontier'' or the "Company'')
Issue of Equity
The Board of Frontier (AIM Ticker: FRI), the onshore oil and gas exploration company with assets in Oman, Zambia and Namibia, has today issued 1,000,000 new ordinary shares ("Shares") at 1.125p per new Share to John O'Donovan, a director of the Company, in respect of accrued but unpaid director fees amounting to £11,250. Following the issue of the new Shares, John O'Donovan will be interested in 2,600,100 Shares representing approximately 1.57 per cent. of the enlarged issued share capital of the Company. The new Shares will rank pari passu with the existing Shares and application will be made for the new Shares to be admitted to trading on AIM, which is expected to occur on or around 2 December 2014.
Total Voting Rights
Following the issue of the new Shares, the total number of Shares in issue with voting rights will be 165,430,505. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Enquiries:
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Frontier Resources International Plc
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Jack Keyes, Chief Executive Officer
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Tel: +1 (281) 920 0061
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Barbara Spurrier, Finance Director
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Tel: 020 3475 8108
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Beaumont Cornish Limited (Nomad)
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Michael Cornish
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Tel: 020 7628 3396
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Roland Cornish
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SP Angel Corporate Finance LLP (Joint Broker)
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Richard Hail
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Tel: 020 3463 2260
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Beaufort Securities Limited (Joint Broker)
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Tel: 020 7382 8300
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Saif Janjua
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A copy of this announcement is available from the Company's websitewww.friplc.com
About Frontier:
Frontier Resources International Plc, which was founded in April 2008, is focused on onshore oil and gas exploration and development in the Middle East and Southern Africa where the Company has technical knowledge and expertise. The Company currently has three exploration projects in Oman, Zambia and Namibia.
Frontier's immediate objectives are to continue developing its core exploration projects towards first production particularly in Oman where the Company's knowledge base is most advanced because of the proximity to producing oil and gas fields and the availability of existing seismic and well data.
The Company is incorporated in the United Kingdom with its registered office in London. It also maintains a technical and commercial office in the United States in Houston, Texas. Additionally, to support its regional operations in Southern Africa and the Middle East, offices are maintained in Namibia Zambia and Oman.
The Company's shares were admitted to AIM of the London Stock Exchange on 5 July 2013.
ENDS