Frontera Resources Corporation has granted shares of Common Stock to certain of the Company’s directors, as listed below. These shares were granted based on a price of 11.0 pence, the closing price on the AIM market on September 18, 2009.
Director
Number of shares of Common Stock granted
Number of shares of Common Stock held following this transaction
Lan Bentsen
420,694
2,902,306
Stephen E. McGregor
560,925
1,481,959
Andrew J. Szescila
560,925
560,925
Luis E. Giusti
560,925
560,925
Spyros N. Karnessis
560,925
40,656,490
In addition, the Company has granted 7,621,565 shares of Common Stock to employees of the Company on the same price basis. All of these grants were issued in lieu of cash fees or cash compensation to the directors and employees.
Pursuant to the grant of these new shares, application has been made for the admission of 10,258,959 shares of Common Stock for trading on AIM. Following this issue, the enlarged issued share capital of the Company is 130,346,423 shares of Common Stock (excluding 5,739,855 shares held as treasury stock). The new shares, which were granted on September 18, 2009, are expected to be admitted to trading on September 30, 2009 and will rank pari passu with the existing shares.
