Providence Resources P.l.c. - Grant of Share Op...

Providence Resources P.l.c.

Grant of Share Options

Dublin and London – January 13, 2020 - Providence Resources P.l.c. (“Providence” or the “Company”), the Irish based energy company, announces that the Board has agreed to award a total of 15,000,000 options over ordinary shares of €0.001 in the Company (the “Options”) to Alan Linn, the newly-appointed Chief Executive Officer of the Company. The Options will be issued under the Providence Resources P.l.c. Employee Share Option Plan 2020 which is being established, and the award is therefore conditional on the approval of Shareholders at a forthcoming Extraordinary General Meeting of the Company to be convened.

The Options will vest in three equal tranches on each of the first, second and third anniversary of the grant date with an exercise price of four (4) pence per share.

For further information please contact:

ENQUIRIES
Providence Resources P.l.c.	Tel: [phone]
Pat Plunkett, Chairman
Alan Linn, CEO
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

ABOUT PROVIDENCE RESOURCES PLC
Providence Resources is an Irish based 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

 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 Plc undertakes no obligation to update any forward-looking statements.

	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Alan Scott Linn
	Reason for the Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/amendment	Initial notification
	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Providence Resources P.l.c.
b)	LEI	635400DSMSR5LZVGDI48
	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Award of options over Ordinary shares of €0.001 each.
	Identification code	IE00B66B5T26
b)	Nature of the Transaction	Award of Share Options
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		4 pence	15,000,000
d)	Aggregated information Aggregated volume Price	n/a
e)	Date of the transaction	10 January 2020
f)	Place of the transaction	London Stock Exchange, AIM (LON:PVR)