Providence Resources - Shares in Providence - Presently circa 65m. Approx 55M...

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Shares in Providence
14:34 06/03/2015
Spuddy
0 replies 0 0

Presently circa 65m. Approx 55M with Large Investors and 10M with retail. Following Placement 1:1 i.e. 65m New Shares an additional 10M Shares will be available to Large Investors i.e. 65m-55m =10M. Then we have Rights issue 1:4.4 = 14.4 M shares. So If Sequa/Spainda is farminee and has been buying in the market prior to Placement Announcement we could see Sapinda/Sequa (if the farminee) take lets say 15% of the shares in Providence. Expect a deal announcement the week following Rights issue

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