PVR Providence Resources Plc

 
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)

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