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PROVIDENCE RES. (PVR)

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Monday 13 January, 2020

PROVIDENCE RES.

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

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

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: +353 1 219 4074
Pat Plunkett, Chairman  
Alan Linn, CEO  
   
Cenkos Securities plcTel: +44 131 220 9771 
Neil McDonald/Derrick Lee  
   
J&E DavyTel: +353 1 679 6363 
Anthony Farrell   
   
Mirabaud Securities LimitedTel: + 44 20 3167 7221
Peter Krens  

 

 
MEDIA ENQUIRIES
 
Murray ConsultantsTel: +353 1 498 0300 
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.

 

 

  1.  
Details of the person discharging managerial responsibilities / person closely associated
a) Name Alan Scott Linn
  1.  
Reason for the Notification
a) Position/status Chief Executive Officer
b) Initial notification/amendment Initial notification
  1.  
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Providence Resources P.l.c.
b) LEI 635400DSMSR5LZVGDI48
  1.  
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)


 


 


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