Wednesday August 12, 2020

Providence Resources to raise €65 million through placing and open offer

Shares in the exploration group resumed trading in London and Dublin today

22nd June, 2016
Providence chief executive Tony O'Reilly

Providence Resources has announced plans to raise around $73 million (€65 million) through a placing and open offer and said it would use the funds to pay off debt, settle litigation and fund a new drilling campaign.

Providence said the funds raised would be used to fund the company's share of payments arising from recent litigation with drilling firm Transocean, to repay $20 million of debt to US-based Melody Finance, to strengthen its financial position and...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Related Stories

In Kildare, many are grateful that the lockdown isn’t a return to square one, but there is anger that actions weren’t taken to prevent it in the first place

Barry J Whyte | 3 days ago

Conservation group calls for effective regulation as multinationals increase use of on-site gas plants to generate electricity

Killian Woods | 2 weeks ago

As the online debate on trans issues remains heated, those affected by them in the real world are calling for more support, space and understanding. But are their voices being heard?

Colin Murphy | 1 month ago