Providence Resources — AGM Information 2019

Sep 12, 2019

National Storage Mechanism | Additional information

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Dublin and London – September 12, 2019 - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Energy Company, announces that the Company’s General Meeting (the “Meeting”) was held earlier today in Dublin.

The Company confirms that the ordinary and special resolutions presented to the Meeting were duly passed.  The Company also confirms that ordinary resolution 2 (b), the re-election of Mr. James McCarthy, was not presented to the Meeting and Mr. McCarthy has duly retired from the Board of Directors.  Special resolution 5, regarding the proposal to provisionally allot shares to APEC, was not presented to the Meeting for approval.  The full text of each resolution was included in the notice of the meeting circulated to shareholders.  The Company also announced that Mr. Simon Brett, Chief Financial Officer, has been also appointed Company Secretary replacing Criona Ryan.

The Company also presented shareholders with an update on its exploration & appraisal portfolio offshore Ireland, as well as providing details on its published H1 2019 Results and conditional Placing to raise $3.76 million, both of which were announced earlier today.  

A copy of the AGM presentation will be available at providenceresources.com.

Tony O’Reilly, Chief Executive Officer commented:

“The first half of 2019 was a very difficult period for the Company where we had endure significant delays for key operational related consents at Barryroe, manage the increasingly negative political climate action agenda and, post period-end, continue to deal with the delays in the payment of the funds due from APEC Energy Enterprises in respect of the Barryroe farm-out, implement a major corporate re-engineering process and execute a Placing to provide essential working capital for our business.   Despite the significant political and commercial headwinds that we have faced, the materiality of both our portfolio and investment in offshore Ireland remains, and the Board remain focused on realising value for all of our shareholders.”

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: +44 203 167 7221
Peter Krens
MEDIA ENQUIRIES
Powerscourt	Tel: +44 207 250 1446
Peter Ogden
Murray Consultants	Tel: +353 1 498 0300
Pauline McAlester