2nd Oct 2009 17:38
FRONTERA RESOURCES CORPORATION
Houston, Texas U.S.A. - 2 October 2009
ISSUANCE OF NEW SHARES AND OPTION GRANT
Frontera Resources Corporation has granted shares of Common Stock to the Company's Chairman and Chief Executive Officer as listed below. The shares were granted based on a price of 16.75 pence, the closing price on the AIM market on October 1, 2009.
|
Director |
Number of shares of Common Stock granted |
Number of shares of Common Stock held following this transaction |
|
Steve C. Nicandros, Chairman and Chief Executive Officer |
1,068,750 |
8,688,672 |
This grant was issued in lieu of cash compensation.
Pursuant to the grant of these new shares, application has been made for the admission of 1,068,750 shares of Common Stock for trading on AIM. Following this issue, the enlarged issued share capital of the Company is 131,415,173 shares of Common Stock (excluding 5,739,855 shares held as treasury stock). The new shares, which were granted on October 1, 2009, are expected to be admitted to trading on October 8, 2009 and will rank pari passu with the existing shares.
In addition to the share grant, the Company also granted stock options to the Company's Chairman and Chief Executive Officer, as listed below.
|
Director |
Amount |
Exercise Price |
Vesting Date |
Expiry Date |
|
Steve C. Nicandros, Chairman and Chief Executive Officer |
300,000 |
£0.17 |
October 1, 2010 |
October 1, 2019 |
Enquiries:
Frontera Resources Corporation
Liz Williamson
Vice President, Investor Relations and Corporate Communications
(713) 585-3216
Nominated Adviser and Broker:
Canaccord Adams Limited
Jeffrey Auld/Ryan Gaffney/Elijah Colby
+44 20 7050 6500
Related Shares:
Frontera Resources