PROVIDENCE RES. Result Of Extraordinary General Meeting

 
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 
 
   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 GBP0.015 (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 Type        Voted     Voted %  % of Issued Share Capital Voted 
---------------  -----------  -------  ------------------------------- 
For              358,390,158  99.996%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Against               13,519   0.004%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Total Voted      358,403,677     100%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Votes Withheld        33,904 
---------------  -----------  -------  ------------------------------- 
 
 
   Special Resolution 2 - To disapply statutory pre-emption restrictions in 
respect of the allotment of shares in connection with the Fundraising 
 
 
 
 
   Vote Type        Voted     Voted %  % of Issued Share Capital Voted 
---------------  -----------  -------  ------------------------------- 
For              358,381,534  99.995%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Against               16,737   0.005%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Total Voted      358,381,534     100%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Votes Withheld        39,310 
---------------  -----------  -------  ------------------------------- 
 
 
   Ordinary Resolution 3 - To increase the authorised capital of the 
Company 
 
 
 
 
   Vote Type        Voted     Voted %  % of Issued Share Capital Voted 
---------------  -----------  -------  ------------------------------- 
For              358,394,330  99.997%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Against                9,440   0.003%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Total Voted      358,403,770     100%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Votes Withheld        33,811 
---------------  -----------  -------  ------------------------------- 
 
 
   Special Resolution 4 - To authorise the Directors to adopt and implement 
the 2020 Share Option Scheme 
 
 
 
 
   Vote Type        Voted     Voted %  % of Issued Share Capital Voted 
---------------  -----------  -------  ------------------------------- 
For              285,600,251  79.687%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Against           72,801,128  20.313%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Total Voted      358,401,379     100%                           54.52% 
---------------  -----------  -------  ------------------------------- 
Votes Withheld        36,202 
---------------  -----------  -------  ------------------------------- 
 
 
   Accordingly, and subject to Admission becoming effective, the Company 
has therefore raised aggregate gross proceeds of approximately GBP2.7 
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 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. 
 
 
 
 
 
 
INVESTOR ENQUIRIES 
---------------------------------- 
Providence Resources P.l.c.         Tel: [phone] 
Alan Linn, Chief Executive Officer 
Cenkos Securities plc               Tel: [phone] 
Neil McDonald/Derrick Lee 
J&E Davy                            Tel: [phone] 
Anthony Farrell 
Mirabaud Securities Limited         Tel: + 44 20 3167 7221 
Peter Krens 
MEDIA ENQUIRIES 
---------------------------------- 
Murray Consultants                  Tel: [phone] 
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 
 
 
 
 

(END) Dow Jones Newswires

May 05, 2020 09:34 ET (13:34 GMT)

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