Providence Resources Forum

Hello Phonner. Believe your explanation is correct. Brokers get a whole load of money on deposit for a couple of weeks and earn interest. Total number of shares after placement and rights ussue will be 65m + 65m + 14.4m i.e aprox 145m shares

I think it looks like we are all entitled to all these shares, but my guess is that if everyone where to apply for the full allocation we would only get a small percentage of it. At the end of the day when it is all done and dusted there will be just over 126 million shares in issue at the end of this month.

hi Spuddy the doc. l got from goodbodys clearly stated that if l purchased my full entitlement ie. division of my shares by4.4 l could then purchase my original holding by 20 and they even stated the amount and the money this deal must apply to everyone including the corp. shareholders by the way it allowed me to pur chsse an extra 400,000 share option stated on ghe letter.

Else pvr shouldn't have gone public this is against natural justice

Hi Spuddy, true but they are dwindling about 12 million shares which should be allocated to public. How come any competent authority didn't look into this? My usual observation for many years companies allow public to participate equally here pvr didn't even allow us.

Hello Sharemate. You are correct that share dillution unfair but the best way to deal with it is to purchase shares in rights issue, apply for excess allotment and purchase additional shares in open market so as not to suffer dilution. This is what I have done to protect against dillution. Whether it is a good idea or not we shall see.

It's rediction by more than 100%

Hi Spuddy, PVR diluted general public asset by not allowing them to participate in share offering. The 66 million allocation will be massive impact. I will not take whatever company situation based on company circular either management need to allow general public to participate or raise capital through other means. It's not justice done to us that to at Rock bottom prices. Pvr need to revisit this allocation what's your view

Believe the 20 shares is only applicable to the number of shares left over after 14.4m offered in 1:4.4 rights issue. However the documentation sent by Brokers is very confusing I aggree

ABT Oil & Gas farmed into Helvic field in November 2013. However I cant find any reference to their share on PVR's website or anywhere else. Furthermore, I cant find any reference to them selling or surrendering their share. Have I missed an RNS?