Providence Resources Forum

Hi Lerrab, how do you get an entitlement share to be one eighth of your original holding when its one share for every 4.4 held? Why then do you get the option to buy 10 times your total holding at 34? I thought the placing was oversubscribed. Sorry have only had time for a cursory glance through the company placing document and letter from broker.

entitlement share option is approx one eight of your original shareholding -if you buy all your entitlement shares at 34 this allows you to buy 10 times your total shareholding at 34 as excess shares this could be a massive dilution by the big boys ÷sequa.y

Wondering if everybody will be snapping up their Entitlement of new share offering & also their Excess Entitlement , A bargin to be had or not ??

all look like major shareholders at the minute. LOL

I think we all got the same message. Makes you feel wealthy really, but sorry to say that is just the free float of two million shares that people can top on if they feel like it. When you ring Goodbodys they will know the number of shares you are due under the one for every four point four that you have, and then you have the option of applying for more if you feel like it with the free flout of two million shares. Anyway as I say we

Judging by how the market has behaved with this share one would think something would happen almost immediately following completion of the placement, otherwise the price will drop below placement price quite rapidly allowing the likes of us to buy more shares at below placement price, dont think this would please many people. Unless of course the placees are in for the mega long term.............

Re Drombeg RNS: Polarcus not listed as presenters at APPEX 3 day conference but appear to have a stand of some sort. Nothing about Drombeg developments on their website either. Exercise in deflection?

Believe we will see Barryroe deal announced the week after the Rights issue and placement. Think it is highly likely that farminee will take a stake in Providence. It may do this via some front company to keep its hand hidden

farminee* not farming and format rather than format..autocorrect...

I think it is remarkable that the farming needs about the same amount of time to sort out its finances as PVR need to sort out the fund raise...get the II's in, announce the format, II's make the wedge, TOR keeps his job...just my opinion of course...