Providence Resources Forum

I would think we are getting close to a announcement . If they have seventy million raised since last week, perhaps another week or two to fill the placement.

Anyone believe in the saying "no news if good news"?

If TOR just leave keys on the table, and will close door behind him, and never back, what happens with PVR then? I think now its too late for this. P45 for him dont recover our investments and Idea just to punish him--looks funny and useless right now. Silence now--for me is a good sign,

Should be investigating the behaviour of the BOD at Providence

[link]

CONSIDERATION OF FREE FLOAT
AIM is an international market for growth companies covering a broad range of sectors with a wide range of market capitalisations. Given this, the AIM Rules take a principles based approach to ensure that they are relevant to the needs of such companies.

A company’s free float is an important qualitative assessment, which can have a significant impact on the ability of the company to attract investors and the functioning of the secondary market. Whilst we do not prescribe levels of free float, the issue of free float is something that we consider an important factor in the work a nominated adviser undertakes when bringing an applicant to market. Sufficient free float is fundamental to the orderly trading and liquidity of the securities once admitted to AIM, which is inextricably linked to the company’s appropriateness to be admitted to AIM.

Nominated advisers will be aware that we often ask them to provide us with details about the factors they have considered in relation to free float when seeking to bring a company to AIM. As a consequence, this is an area where we thought it would be helpful to clarify some of the factors we often discuss with nominated advisers, including the following:

Consideration should be given to how the securities are likely to trade when admitted to AIM, following discussion with the company’s broker(s) and potential market makers. We would expect consideration to be given to the spread and nature of the shareholders comprising the free float;
Failure to raise initial target funds (which in itself might give rise to free float questions) may be indicative of more fundamental issues of appropriateness and is a matter that should be properly explored by the nominated adviser;
Limited free float should give rise to questions about the rationale for the applicant to seek admission to AIM;
Where there are concentrated shareholdings (e.g. connected due to family, business or other interests/ connections) free float issues should be considered in conjunction with issues of undue influence, control and ongoing corporate governance arrangements within the company.
Date of publication: 1 June 2015

Believe your sentiment is shared By Many thousand of distraught small investors. I was positive because maybe I naive in believing that the BOD were Going to act in all the shareholders best interests and because I believed the mistruths told By TOR and because I believed the scandolous and outrageous mismanagement and abuse of the BODs powers were because something positive was on the horizon. I Have alot of money ( for me) invested here and am lost for words to describe the situation and the scoundrels running the show at Providence. Have a question. Is there a mínimum percentage level defined By AIM below which free float cannot fall. Believe small PIs own approx 7% of company. If 70-80 m dollars raised We Will own less Than 2%. Is this ok under AIM rules. Hope Richie has some success with his court action if It takes place. We are being Robbed of our money By this bunch

It is a strange strange company. And i wish to god i never invested in it. I am still unsure whether it is a mass scam a front for something or a genuine proposition. I alternate between the two quite a bit. My feelings are as extreme as the views expressed on this board. I just hope that one way or another we will find out the truth soon enough. As i am sick of the eternal waiting.

Mamms i want some of those pills... if your selling😉

They are deceiving the people, this went for too long

I agree - participation of Board in last fundraising was a sign we all ignored. We should have sold immediately!!!