The Board of Frontier Resources International has appointed Neil Herbert as a Director and Chairman of the Board of the Company with immediate effect.
Neil Herbert has also today subscribed £125,000 for 12,500,000 new Ordinary Shares (Shares) at a subscription price of 1p per new Share and has been granted a warrant to subscribe at any time in the next 5 years for a further 12,500,000 Shares at an exercise price of 1p per new Share (the "Subscription"). On completion of the Subscription Neil Herbert will be interested in approximately 7.6 per cent. of the enlarged issued share capital of the Company.
Ric Piper will also step down as a director of the Company with effect from today. The Board is grateful to Ric for his guidance and contribution over the last two years during which the Company was admitted to AIM.