Frontera Energy Corp T.FEC

So I did some digging, Frank007 might be correct!!!!

[CrazyTrader]

Frontera did a SIB back in 2022 for $65 Million CAD.  At that time Catalyst owned 34,775,609 shares.  
2022-06-20 | Frontera Announces $65 Million Substantial Issuer Bid | TSX:FEC | Press Release (stockhouse.com)

This SIB anouncement states Catalyst owns 34,775,609 shares!!  

Looks like they sold NONE of their shares in last SIB.  

Results of last SIB were as follows.  
6,498,558 Shares were validly tendered 
Company has taken up and paid for 5,416,666  
Shareholders who made auction tenders at or below the Purchase Price and shareholders who made, or were deemed to have made, purchase price tenders will have approximately 83.3% of their tendered Shares purchased by the Company. 

2022-08-11 | Frontera Announces Completion of Substantial Issuer Bid | TSX:FEC | Press Release (stockhouse.com)


if you divide 5,416,666 by 6,498,558 you get 83.3%.......

[a2bman]

Ok I'll bite,  Frank might be right about what?  These guys are off-loading shares because it's going to go to the moon? Need some help here

[CrazyTrader]

I don't know..  Just noticed that Catalyst share count didn't seem to change.   So, last SIB it seems they did not participate.    Also noticed "Paid up Capital"  and something about dividends and Revenue Canada.... I think this is much more complicated than I realize.  Does not look like simply reporting capital gain.  This was also so

[a2bman]

Crazy, I don't think you'll have any costs.  But like I said I don't read anything, just my experience.  Taxes, yes but everything we do has taxes.  I don't think you can lose by taking the deal.  Buy your 4% back the day after.  Unless your talking millions of shares the market will absorbe your trades, no problem

[a2bman]

Actually some of mine is in tfsa, so there's that.

[waitingstill]

I think you are missing Frank's point. He is saying that CC will bail and not tender any shares. He believes that FEC already has a deal and CC knows this. By not tendering any shares they will have a larger portion of the company when the deal goes through. For me, I think CC needs money. This way they won't have to pay taxes as I believe they probably paid more than $12 for their shares

[a2bman]

Ok I see what they are saying now.  I didnt get the why the "no change in shares stuff" when Catalysts was quoted in previous sib stating they will NOT participate, and this time they stated the are.  Im trying to figure it out too. FEC has been doing constant ncibs and sibs for years now.    I think Gramercy has been buying and selling, Im going to look at teh

[waitingstill]

This post has been removed in accordance with Community Policy

[waitingstill]

Lol. My last post got busted for "profanity". Basically said I would do what a2bman with shares but I have 0 FEC shares and what I could buy now would not be eligible. All CGX shares unfortunately. Hopefully FEC does not hoop CGX and CGX management can do something right for once. Can only pray now as that is pretty much all we have there.

[CrazyTrader]

waitingstill said "I have 0 FEC shares and what I could buy now would not be eligible."    I'm still waiting for my broker to have an answer as to if my share, or any shares purchased after september 11 and upto october 16 are eligible.    There is no mention of a record date in press release.   I still haven't recieved anything in the mail or

[waitingstill]

You should call or email company on Monday or Tues. They can probably tell you the date of record and maybe even what shares you have available. FEC often replies to emails in my experience.

[CrazyTrader]

I left a voicemail and Email with Frontera investor relations back on the 12th... No response.  Repeated calls goes to voice mail.    Been calling my broker repeatedly since the 12th.   They still don't have an answer for me.  

[CrazyTrader]

a2bman, I missed that when reading about the previous SIB... that Catalyst said they will not participate.    So, Frank probably wrong then, Catalyst will probably tender their shares as they indicated they currently plan to this time around.