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Share Name Share Symbol Market Type Share ISIN Share Description
PROVIDENCE RESOURCES PLC NEX:PVR.GB NEX Ordinary Share IE00B66B5T26
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 3.75 3.50 4.00 3.802 3.75 3.75 11,759 16:30:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
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Result of Extraordinary General Meeting

05/05/2020 2:34pm

GlobeNewswire Inc.


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Result of Extraordinary General Meeting

For Immediate Release

THIS ANNOUNCEMENT AND THE INFORMATION IN IT, IS RESTRICTED, AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, SWITZERLAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE, OR FORM THE BASIS OF AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW OR EXISTING ORDINARY SHARES OF PROVIDENCE RESOURCES PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL

Terms and conditions used in this announcement have the meaning ascribed to them in the announcement of 6 April, 2020 unless the context requires otherwise.

Providence Resources P.l.c.

Result of Extraordinary General Meeting

Dublin and London – May 5, 2020 - On April 6, 2020, Providence Resources P.l.c., ("Providence" or the “Company”) the Irish Energy Company, whose shares are quoted in London (AIM) and Dublin (Euronext Growth Market), announced a conditional fundraising of 157,973,004 Placing Securities and 20,000,000 Subscription Securities (each of which shall comprise one New Ordinary Share, one 3p Warrant and one 9p warrant) at a price of £0.015 (equivalent to approximately US$0.018) each.

The Company is pleased to announce that, at its Extraordinary General Meeting held earlier today, the Resolutions set out in the Circular dated April 6, 2020 were duly passed. The results of the Poll of the meeting are set out below.

Ordinary Resolution 1 – To authorise the Directors to allot relevant securities

Vote TypeVotedVoted %% of Issued Share Capital Voted
For358,390,15899.996%54.52%
Against13,5190.004%54.52%
Total Voted358,403,677100%54.52%
Votes Withheld33,904  

Special Resolution 2 - To disapply statutory pre-emption restrictions in respect of the allotment of shares in connection with the Fundraising

Vote TypeVotedVoted %% of Issued Share Capital Voted
For358,381,53499.995%54.52%
Against16,7370.005%54.52%
Total Voted358,381,534100%54.52%
Votes Withheld39,310  

Ordinary Resolution 3 - To increase the authorised capital of the Company

Vote TypeVotedVoted %% of Issued Share Capital Voted
For358,394,33099.997%54.52%
Against9,4400.003%54.52%
Total Voted358,403,770100%54.52%
Votes Withheld33,811  

Special Resolution 4 - To authorise the Directors to adopt and implement the 2020 Share Option Scheme

Vote TypeVotedVoted %% of Issued Share Capital Voted
For285,600,25179.687%54.52%
Against72,801,12820.313%54.52%
Total Voted358,401,379100%54.52%
Votes Withheld36,202  

Accordingly, and subject to Admission becoming effective, the Company has therefore raised aggregate gross proceeds of approximately £2.7 million (equivalent to approximately US$3.3 million) through the Placing and the Subscription.

Application has been made to the London Stock Exchange and Euronext Dublin for the New Ordinary Shares to be admitted to trading on AIM and Euronext Growth and this is expected that Admission will occur at 8.00 a.m. on May 6, 2020. Following Admission, the New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue including the right to receive all dividends or other distributions declared, made or paid after the date of their issue.

Following Admission, the Company's total issued and voting share capital will comprise 835,397,852 Ordinary Shares of €0.001 each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company under the FCA's Disclosure and Transparency Rules.

INVESTOR ENQUIRIES 
Providence Resources P.l.c.Tel: +353 1 219 4074
Alan Linn, Chief Executive Officer 
Cenkos Securities plcTel: +44 131 220 9771
Neil McDonald/Derrick Lee 
J&E DavyTel: +353 1 679 6363
Anthony Farrell 
Mirabaud Securities LimitedTel: + 44 20 3167 7221
Peter Krens 
MEDIA ENQUIRIES  
Murray ConsultantsTel: +353 1 498 0300 / +353 87 255 8300
Pauline McAlester 

ANNOUNCEMENT & FORWARD-LOOKING STATEMENTS

This announcement contains certain forward-looking statements. Actual results may differ materially from those projected or implied in such forward-looking statements. Such forward-looking information involves risks and uncertainties that could significantly affect expected results. No representation is made that any of those statements or forecasts will come to pass or that any forecast results will be achieved. You are cautioned not to place any reliance on such statements or forecasts. Those forward-looking and other statements speak only as at the date of this announcement. Providence Resources P.l.c undertakes no obligation to update any forward- looking statements.

ABOUT PROVIDENCE RESOURCES PLC

Providence Resources is an Irish based Oil & Gas Energy Company with a portfolio of appraisal and exploration assets located offshore Ireland. Providence’s shares are quoted on the AIM in London and the Euronext Growth Market in Dublin. Further information on Providence can be found on www.providenceresources.com

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