Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Frontera Energy Corp T.FEC

Alternate Symbol(s):  FECCF

Frontera Energy Corporation is a Canada-based oil and gas company. The Company is involved in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America, including related investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets with interests in 27 exploration and production blocks in Colombia, Ecuador, and Guyana, and pipeline and port facilities in Colombia. The Company’s segments include Colombia, Ecuador, Guyana, Midstream Colombia, and Canada & Others. Colombia includes all upstream business activities of exploration and production in Colombia. Ecuador includes all upstream business activities of exploration and production in Ecuador. Guyana includes exploration and infrastructure. Midstream Colombia includes the Company’s investments in pipelines, storage, port, and other facilities relating to the distribution and exportation of crude oil products in Colombia.


TSX:FEC - Post by User

Comment by kcac1on Oct 06, 2024 10:37pm
57 Views
Post# 36255499

RE:I don't get it

RE:I don't get itThere are taxes to consider, but the main thing is that they are only allocating U$30Mil to buy back roughly 4% of the outstanding shares on a Pro-Rata Basis. If Catalyst and Gramercy both participate in full, they will get 55% ot the $30mil. since they own 55% of the shares. I think this entire very strange and purposely confusing deal was devised because Catalyst needs cash, thus they own 41% of the shares = 41% of U$30Mil. or $12.3Mil likely will go to them.

If oversubscribed, which is highly likely. You will only be able to tender the % of the company shares that you own to get your likely very small portion of the $30mm worth of $12C shares that are being bought back. Most of us own small %'s of 1% of outstanding FEC shares. So, you can't just tender all your shares and expect all to be bought at $12C. Most likely, only a small % of you shares will be bought at $12C.

<< Previous
Bullboard Posts
Next >>