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Providence Resources Pays Melody Debt, Sums Owed To Transocean (ALLISS)

Wed, 20th Jul 2016 09:19

LONDON (Alliance News) - Providence Resources PLC on Wednesday said it has repaid the debt owed to Melody Business Finance LLP in cash and shares.

Providence said it has made a USD20.0 million cash payment and has allotted 9.9 million shares to Melody to cover the debt owed. Providence shares were down 1.0% to 11.76 pence.

In addition, Providence said it has sent the balance of the sums owed to Transocean Drilling UK Ltd in respect of the Court of Appeal order made in April.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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