Frontera Energy (TSE:FEC) has released an update.
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Frontera Energy has announced preliminary results from its substantial issuer bid, where it plans to purchase CAD$40.5 million worth of its shares for cancellation at CAD$12.00 per share. The bid was oversubscribed, with approximately 4.35% of tendered shares expected to be purchased. This move will reduce Frontera’s outstanding shares, potentially increasing the value for remaining shareholders.
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