PVR.L Regulatory News (PVR)

22 May 2020 15:42

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

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Providence Resources P.l.c.

SpotOn Energy Investment Update

Dublin and London – 22 May 2020 - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based resource development company (“Providence” or the “Company”), provides an update on the second tranche of the proposed investment in Providence by SpotOn Energy Limited (“SpotOn Energy”).

As announced on 6 April 2020, SpotOn Energy invested £0.3 million into Providence as part of the recent $3.3 million fundraising and committed to invest a further £0.2 million within six weeks of that announcement.

SpotOn Energy has experienced some delays in closing out the necessary arrangements with its consortium because of current working and travel restrictions and has informed Providence that it will be necessary to delay the second tranche of its investment by approximately one week. The Company will provide an update to the market upon receipt of funds.