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Providence Resources P.l.c.
Exercise of Warrants
Dublin and London – 4 May 2021 - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based resource development company (“Providence” or the “Company”), announces that 16,312,108 warrants of 3p each have been exercised raising £489,363.24 for the Company. The warrants were issued as part of the fundraising in May 2020. The non-executive Chairman of Providence Resources Plc, Pat Plunkett has exercised one million warrants which are included in the figure. Providence Resources has issued a total of 16,312,108 new Ordinary Shares (the “New Ordinary Shares”) to the warrant holders.
Application will be made to the London Stock Exchange and Euronext Dublin for the New Ordinary Shares to be admitted to trading on AIM and Euronext Growth. It is expected that admission to trading on each exchange ("Admission") will become effective and that dealings in the New Ordinary Shares will commence on AIM and Euronext Growth at 8.00 a.m. on 11 May 2021.
The New Ordinary Shares will be issued and credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after the admission of those Ordinary Shares and will otherwise rank on Admission pari passu in all respects with each other and with the existing Ordinary Shares in the Company. The total issued share capital of the Company, as increased by the New Ordinary Shares, will be 951,846,511 Ordinary Shares.
Pat Plunkett, the non-executive Chairman of Providence Resources Plc and a Person Discharging Managerial Responsibilities has exercised 1,000,000 warrants. After the exercise of the warrants, Pat’s shareholding in the Company is 3,750,000 representing 0.394% of the issued share capital.
In May 2020, there were 177,973,400 £0.03 and £0.09 warrants issued as part of the fundraising. To date there have been 110,332,847 £0.03 warrants converted in shares raising an additional £3,309,985.40. There are still 67,640,553 £0.03 warrants outstanding which will expire on the 6th May 2021.
Providence Resources P.l.c. Tel: +353 1 219 4074
Alan S Linn,
Chief Executive Officer
J&E Davy Tel: +353 1 679 6363
Murray Consultants Tel: +353 1 498 0300