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 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 £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: |
| Alan Linn, Chief Executive Officer | |
| Cenkos Securities plc | Tel: 1 |
| Neil McDonald/Derrick Lee | |
| J&E Davy | Tel: |
| Anthony Farrell | |
| Mirabaud Securities Limited | Tel: 21 |
| Peter Krens | |
| MEDIA ENQUIRIES | |
| Murray Consultants | Tel: / 0 |
| 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
