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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Providence Resources Plc | LSE:PVR | London | Ordinary Share | IE00B66B5T26 | ORD EUR0.001 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.25 | 3.10 | 3.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPVR 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 Providence Resources P.l.c. Result of Extraordinary General Meeting Dublin and London -- September 30, 2019 - On September 12, 2019, 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 placing (the "Placing Offer") of 59,765,890 new ordinary shares (the "Placing Shares") to institutional and other investors (the "Placees") at a price of GBP0.051 (equivalent to approximately US$0.063) per Placing Share (the "Placing Price") (the "Placing"). The Company is pleased to announce that, at its Extraordinary General Meeting held earlier today, the Resolution set out in the Circular dated September 12, 2019 reducing the nominal value of each existing ordinary share in the Company to EUR0.001 (from EUR0.1) was duly passed. Accordingly, and subject to Admission becoming effective, the Company has therefore raised aggregate gross proceeds of approximately US$3.76 million through the Placing. Application has been made for the Placing Shares to be admitted to trading on AIM and ESM ("Admission"). It is expected that Admission will occur at 8.00 a.m. on October 1, 2019. Following Admission, the Placing Shares will rank pari passu in all respects with the existing ordinary shares in issue including the right to receive all dividends or other distributions declared, made or paid after the date of their issue. Following Admission, the Company's total issued and voting share capital will comprise 657,424,848 ordinary shares of EUR0.001 each. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company under the FCA's Disclosure and Transparency Rules. Update on receipt of APEC Loan Amount On June 5, 2019, the Company announced that it had agreed certain amendments to the Farm-Out Agreement (the "Updated FOA") for the Barryroe Project with APEC Energy Enterprises Limited ("APEC") and, together with EXOLA and Lansdowne, the "Barryroe Partners", including a revised backstop date with APEC for receipt by the Company of the US$ 9 million loan advance to June 14, 2019, which was subsequently extended through various extensions to September 30, 2019. As at the time of the issuance of this announcement, no funds had been received in the Company's account. Noting that the extension runs to the close of business today, the Company will issue a further announcement updating on the status of the APEC Loan Amount. INVESTOR ENQUIRIES Providence Resources P.l.c. Tel: +353 1 219 4074 Tony O'Reilly, Chief Executive Officer Cenkos Securities plc Tel: +44 131 220 9771 Neil McDonald/Derrick Lee J&E Davy Tel: +353 1 679 6363 Anthony Farrell Mirabaud Securities Limited Tel: + 44 20 3167 7221 Peter Krens MEDIA ENQUIRIES -------------------------------------- Powerscourt Tel: +44 207 250 1446 Peter Ogden Murray Consultants Tel: +353 1 498 0300 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 https://www.globenewswire.com/Tracker?data=WWg3qW86zKM6alez6-MKEu50788ym83_a-QPrCqONthLZnx32AgpHE0zG7oGSMby8Vy8hfx-0osaeNCZ4WenXV5nzBUSg6Nkz_T_p-Af6kdBmMP5JNhywpZdl9htpivF www.providenceresources.com ABOUT APEC ENERGY ENTERPRISE LIMITED APEC Energy Enterprise Ltd. was established in 2014 as a Hong Kong registered company with headquarters in Beijing. In addition to its original focus on offshore oil & gas services, APEC provides upstream energy acquisition advice and management services in partnership with Chinese Oil Companies, offshore and onshore service providers, and SOE investment groups. https://www.globenewswire.com/Tracker?data=WWg3qW86zKM6alez6-MKEjVqgMGg32GRGqZIFyiDNbRSt9ao0iz16KQpryALCiv9xu-ZPTEoqwtY3vFW4BPATegXRPdgBBOPWbOwk4i4ZIM= www.apecenergy.com. ABOUT LANSDOWNE OIL & GAS PLC Lansdowne Oil & Gas is a North Celtic Sea focussed oil and gas exploration company quoted on the AIM market and headquartered in Dublin. Lansdowne holds acreage in the north Celtic Sea Basin, Ireland. For more information on Lansdowne, please refer to https://www.globenewswire.com/Tracker?data=WWg3qW86zKM6alez6-MKElxjCFU7KG75ctLDSlPJCH4ylVYsk4807rW-pxV8_l8Nd2Y0-sAhAzMgaBRyui4XOhTaK7RIc6H11nDRmoqcYSr0bl0IK7NUFYhyZMvMrCgR www.lansdowneoilandgas.com
(END) Dow Jones Newswires
September 30, 2019 05:37 ET (09:37 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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