Frontier Resources International Result of General Meeting (9432S)

TIDMFRI

RNS Number : 9432S

Frontier Resources International

22 March 2016

For immediate release

22 March 2016

Frontier Resources International Plc

("Frontier" or the "Company")

Result of General Meeting

Disposal of Frontier Oman Resources Limited ("Frontier Oman") and

Frontier Resources International Inc ("FRII")

The Board of Frontier (AIM Ticker: FRI) announces that the resolutions to authorise the disposal of Frontier Oman (which holds the Group's oil exploration interests in Oman) and its entire interest in FRII, which provides administrative and technical support to the Group's oil projects, were unanimously approved at the General Meeting of the Company held earlier today.

Completion of the disposal will take place tomorrow following which, the Company will cease to own, control or conduct all, or substantially all, of its existing trading business, activities or assets and therefore become an AIM Rule 15 cash shell, pursuant to which it must make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 (including seeking re-admission as an Investing Company (as defined under the AIM Rules)) within six months, failing which the Exchange will suspend trading in the Ordinary Shares pursuant to AIM Rule 40.

As previously announced, the Board's strategy is to identify a suitable acquisition or acquisitions in a new sector, which will satisfy the requirements of AIM Rule 15.

Enquiries:

 
 Frontier Resources 
  International Plc           Tel: +44 (0) 7785 
  Adam Reynolds, Chairman     908158 
 Beaumont Cornish (Nomad) 
  Michael Cornish             Tel: +44 (0)20 7628 
  Emily Staples               3396 
 Beaufort Securities 
  Limited (Broker)            Tel: +44 (0)20 7382 
  Jon Belliss                 8300

A copy of this announcement is available from the Company's website www.friplc.com

Defined terms in this announcement have the same meaning as set out in the Company's announcement dated 3 March 2016

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

END

ROMSEWFIEFMSEED

(END) Dow Jones Newswires

March 22, 2016 11:30 ET (15:30 GMT)

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