Providence Resources P.l.c. - Grant of Share Options
Updated : 07:00
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 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 20 3167 7221 |
| Peter Krens | |
| | |
| MEDIA ENQUIRIES | |
| Murray Consultants | Tel: +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.
| | 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) | |