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Mystery investor - and I was hoping to remain under the radar since my Arcon days here :)
GLA
Try investing in CORCEL .... its not an oil share and in much better and more immediate return ...
This is do or die. Crystal Amber fell in love with HUR but seem to have run aground. Betting on hope is not always a recipe for success.
Cherrs guys...for the insights and speculation. It'll all come out in the wash no doubt.
Rocklawn, I am not implying that they have bought or are holding shares for LG. It is believed
LG shares were bought via vevan unlimited, which no doubt , as you say, has a complex offshore ownership. Mind you, the address for vevan unlimited is Ardee , co Louth and glen dimplex hq is a few miles away in dunleer . I am just suggesting that people “talk about opportunities “..it’s just idle speculation for a Sunday afternoon
Mystery investors up stake in Providence Resources
Unidentified pair now in the top five shareholders of the oil and gas exploration company
Barry J Whyte - avatar
Barry J Whyte
Chief Feature Writer
@whytebarry
16th May, 2021
Mystery investors up stake in Providence Resources
The newly-increased holding puts the pair in the top five holders of shares in Providence as the company embarks on a major push to finally develop its Barryroe oil discovery.
An unknown pair of investors have boosted their stake in Providence Resources, the beleaguered Irish oil and gas exploration company.
The two investors, “S O’Driscoll and R O’Riordan”, now hold 4.12 per cent of the shares, having boosted that stake in a recent fundraising round by the company.
The newly-increased holding puts the pair in the top five holders of shares in Providence as the company embarks on a major push to finally develop its Barryroe oil discovery, off the south-west coast of Ireland.
There has been speculation in recent months that “S O’Driscoll and R O’Riordan” are Sean O’Driscoll and his wife, Rose O’Riordan, who are seasoned investors through their investment vehicle Roaring Waters.
However, O’Driscoll, the former boss of Irish industrial giant Glen Dimplex, has denied that he is the S O’Driscoll in question. When contacted by this newspaper in August of last year, he said: “You’ve got the wrong man.”
Since then, he has declined to take any calls from the Business Post.
The Business Post asked Providence if it knew the identity of the shareholders. A spokesman for the company said: “Providence does not comment on individual shareholders.”
The current stake was increased as part of an ongoing fundraising drive by Providence as it attempts to raise money to explore its Barryroe asset off the coast of Cork.
Over the last few months, it has raised around £4 million from shareholders exercising warrants — effectively options for existing shareholders to buy shares at three pence a share. The warrants were issued last year to shareholders who contributed to a €3 million capital raise.
Meanwhile, the company is also planning to raise $5 million, of which $2.5 million will be underwritten by Pageant Holdings, an investment vehicle founded by Nick Furlong.
Last week, the company appointed James Menton as a senior independent non-executive director. Menton is a former partner with KPMG Ireland and a former chair of the board of St Vincent’s Healthcare Group.
Thanks to roadster on advfn
https://ie.globaldatabase.com/company/roaring-waters-capital-limited
Flombo ... if it was LG it not be in individual names ... he buys everything in a company ...mostly offshore.
SOD &ROS ARE THE INVESTORS ... THAT'S A SURE THING ... caps apologies
The sbp article states that they have tried numerous times to contact mr o Driscoll again , since his initial denial last august, to deny or confirm he and his wife are the holder of this stake, but he has declined to take any of their calls.
Sean o Driscoll has in the past denied he is this investor . https://www.businesspost.ie/business/mystery-surrounds-providence-shareholders-identity-be5c157a
But Interestingly glen dimplex head office is based in co Louth , also the birthplace of a certain Larry goodman..
Thanks Rocky!
JH ... they will have to issue a RNS i would imagine to confirm that. I know this couple they are very wealthy with probably alot of cash and strongly feel that this is a winner ... his an accountant by profession who was CEO of a major international private electrical appliance co. He has since retired but is involved with alot of companies including startups.
Look like it's a spin to pump share price, so called mystery Investor Increased stake by about 0.6% where as M&G has decreased stake by 2%, why didn't they highlight the lack of Interest from M&G. Rather than focusing and spending money on such articles company should focus to get funds and deliver the results. These won't work anymore.
Surprising development! Anybody able and willing to copy and paste the article?
https://www.businesspost.ie/companies/mystery-investors-up-stake-in-providence-resources-79875311