Frontier Resources International plc

June 20, 2013 08:21 ET

AMENDMENT - Proposed Admission to AIM and withdrawal of trading on ISDX

In the announcement released by the Company on 19 June 2013, the amount the  Company intends to  raise  was
incorrectly stated as being US$1.8 million rather than GBP1.8 million. The correct text of the announcement
is set out below.
                                                                                             19 June 2013

                                   FRONTIER RESOURCES INTERNATIONAL PLC
                                       ("Frontier" or the "Company")
                        Proposed Admission to AIM and withdrawal of trading on ISDX

The  Directors  of  Frontier  (ISDX: FRGP) are pleased to announce that the pre-admission  announcement  in
connection  with  the proposed admission of its shares to trading on AIM (the "Schedule One Announcement"),
has  today  been  released by the London Stock Exchange. Copies of the Schedule One  Announcement  will  be
available to download from the Company's website (

The  Company intends to raise GBP1.8 million in a placing in connection with the proposed admission to AIM.
The  funds  raised  in  the  placing  will  be used principally to conduct  exploration  on  the  Company's
exploration assets in Oman and provide working capital.

Frontier's  shares were first admitted to trading on ISDX (formerly PLUS SX) in January 2009.  The  Company
disposed  of  its US onshore production interests in October 2012 and is now solely 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, Namibia  and Zambia.
The Directors believe that the Company has made sufficient progress, such that a move to AIM is the logical
next step for the Company.

The  Company is seeking admission to AIM in order to take advantage of the market's higher profile, broader
investor  base, liquidity and access to institutional investors.  The Directors believe that the  Admission
should  provide liquidity for current and future investors in the Company and provide the Company with  the
flexibility to issue new shares as consideration for any acquisition. Cancellation of trading on ISDX  will
take place simultaneously with the AIM Admission. No action is required from shareholders at this stage and
they  will be able to continue to trade their shares in the Company as normal. A further announcement  will
be made in due course.

In  connection  with Admission, Beaumont Cornish Limited is acting as the Company's Nominated  Adviser  and
Beaufort  Securities Limited is acting as Corporate Broker. Peterhouse Corporate Finance is  currently  the
Company's ISDX Corporate Adviser.

The Directors of Frontier are responsible for the contents of this announcement.

Contact Details:

Frontier Resources International Plc
Jack Keyes, Chief Executive officer
Telephone: U.S. +1 (713) 962-0887

Ric Piper, Chairman
Telephone: +44 7966 381 974

ISDX Corporate Adviser
Peterhouse Corporate Finance Limited
Duncan Vasey and Mark Anwyl
Telephone: +44 20 7220 9796

Contact Information

  • Frontier Resources International plc