Actual results may differ from these estimates.
In the event that the farm-out does not complete with SpotOn Energy, the Group will re-commence the Barryroe farm-out process.The business re-engineering has been completed in this period, and resulted in significant reductions in the Group’s operating expenditure. Taking into account all information currently available, including the recent equity placing with £0.03 and £0.09 warrants attached and other options available to fund the commitments, including other equity funding alternatives, the Directors believe that the Group will have sufficient funds available over the next 12 months to meet all its commitments as they fall due.However, the failure to complete a farm-out on Barryroe represents a material uncertainty that may cast significant doubt upon the Group and Company’s ability to continue as a going concern in the long term and that therefore the Group and Company may be unable to continue realising assets and discharging liabilities in the normal course of business. The accompanying notes are an integral part of these condensed consolidated financial statements.PROVIDENCE RESOURCES P.l.c. Providence Resources P.l.c.Exercise of Warrants The following amendment has been made to the 'Exercise of Warrants’' announcement released on 28th September 2020 at 7am.The below announcement has been corrected to state the New Ordinary Shares will be admitted to trading at 8.00am on 2 October and not 3 October.All other details remain unchanged.
The consolidated financial statements of the Group for the year ended 31 December 2019, together with the independent auditor’s report thereon, were filed with the Irish Registrar of Companies following the Company’s Annual General Meeting and are also available on the Company’s Website. 97 $9.97 $9.97. Dragon, St. George’s Channel (SEL 1/07) Under discussion with the regulatory authoritiesHook Head, North Celtic Sea (SEL 2/07) Subject of Lease Undertaking applicationHelvick/Dunmore, Celtic Sea (Lease Undertaking) Subject to MFDevCO work programmeKish Bank, Kish Bank Basin (SEL 2/11) Licence expired August 17th, 2020.Dunquin South, Southern Porcupine (FEL 3/04) May 2020 Providence advised JV partners of its withdrawal from the licence.
Note 5 – Trade and other receivables 30 June 2020 30 June 2019 31 December 2019 Unaudited Unaudited Audited €’000 €’000 €’000 VAT recoverable 46 72 53 Prepayments 155 190 242 Amounts due from joint operation partner 39 399 103 Total 240 661 398 PROVIDENCE RESOURCES P.l.c. Each of these security instruments comprised of one Ordinary Share of €0.001, one £0.03 warrant and one £0.09 warrant.On issuance, a fair value of €1.9m was attributed to the Ordinary Shares (share capital / share premium outlined above) and €1.2m to the Warrant instruments based on the effective share price at that date. Further information on Providence can be found on www.providenceresources.comINVESTOR ENQUIRIES Providence Resources P.l.c. You are cautioned not to place any reliance on such statements or forecasts.
The registration number of the Company is 268662 and the address of the registered office is Paramount Court, Corrig Road, Sandyford Business Park, Dublin 18, D18 R9C7. Note 12 - CommitmentsAs at 30 June 2020, the Group has capital commitments of approximately €0.3m (31 December 2019: €0.6m) to contribute to its share of costs of exploration and evaluation activities. Consolidated statement of cash flows For the 6 months ended 30 June 2020 6 months ended 30 June 2020 6 months ended 30 June 2019 Year ended 31 December 2019 Unaudited Unaudited Audited €’000 €’000 €’000 Cash flows from operating activities Loss before income tax for the period (9,247) (5,543) (26,853) Adjustments for: Depletion and depreciation 14 9 35 Impairment of exploration and evaluation assets - 3,072 21,121 Finance income (1) (22) (30) Finance expense 8,185 258 947 Equity settled share based payment charge 216 40 40 Foreign exchange 34 (13) (122) Change in trade and other receivables 158 (197) 66 Change in trade and other payables (321) 608 825 Net cash outflow from operating activities (962) (1,788) (3,971) Cash flows from investing activities Interest received 1 22 30 Acquisition of exploration and evaluation assets (390) (4,013) (6,075) Acquisition of property, plant and equipment - (56) (56) Net cash used in investing activities (389) (4,047) (6,101) Cashflows from financing activities Proceeds from issue of security instruments (see note 6) 3,277 \- 3,442 Security instrument Issue costs (350) \- (429) Net cash from financing activities 2,927 \- 3,013 Net increase/(decrease) in cash and cash equivalents 1,576 (5,835) (7,059) Cash and cash equivalents at beginning of period 710 7,617 7,617 Effect of exchange rate fluctuations on cash and cash equivalents (17) 6 152 Cash and cash equivalents at end of period 2,269 1,788 710 The accompanying notes are an integral part of these condensed consolidated financial statements.PROVIDENCE RESOURCES P.l.c.
Meanings of PVR in English As mentioned above, PVR is used as an acronym in text messages to represent Proliferative Vitreoretinopathy. The “2020 scheme” operates as an equity-settled share option scheme and the options granted are subject to certain conditions.
In addition to PVR, Personal Video Recorder may be short for other acronyms. Note 6 – Share Capital and Share Premium Number Authorised: ‘000 €’000 At 1 January 2020 Deferred shares of €0.011 each 9,944,066 109,385 Ordinary shares of €0.001 each 986,847 987 At 30 June 2020 Deferred shares of €0.011 each 9,944,066 109,385 Ordinary shares of €0.001 each 1,800,000 1,800 Number Share Capital Share Premium Issued: ‘000 €’000 €’000 Deferred shares of €0.011 each At 31 December 2018 and 30 June 2019 1,062,442 11,687 5,691 Re-designated as Ordinary Shares at 30 September 2019 5,378,931 59,168 \- At 31 December 2019 and 30 June 2020 6,441,373 70,855 5,691 Ordinary share of €0.001 each At 31 December 2018 and 30 June 2019 (Ordinary Shares of €0.10 each) 597,659 59,765 242,227 Re-designated as Ordinary Shares of €0.001 each at 30 September 2019 597,659 597 242,227 Shares issued during the year 59,766 60 3,382 At 31 December 2019 (Ordinary shares of €0.001 each) 657,425 657 245,609 Shares issued in period 184,089 184 1,940 At 30 June 2020 841,514 841 247,549 At 30 June 2020 (Total deferred and Ordinary shares) 7,282,887 71,696 253,240 On 5 May 2020, the Company issued 177,973,004 Ordinary Shares as part of a placing and subscription agreement which raised c. €3.1m from security instruments before expenses. Till now you might have got some idea about the acronym, abbreviation or meaning of PVR. Looking for the definition of PVR?
Options are recommended at a level to attract retain and motivate participants in the competitive environment in which the Group operates, The Remuneration Committee reviews and assesses proposals to grant share options to participants.The Group operates the following employee share schemes:2020 SchemeIn 2020, the directors adopted a share option scheme which contains certain performance criteria. 2020 Half Year ResultsDublin and London – September 30th, 2020 - Providence Resources P.l.c. Note 3 – Finance Expense 6 months ended 30 June 2020 6 months ended 30 June 2019 Year ended 31 December 2019 Unaudited Unaudited Audited €’000 €’000 €’000 Unwinding of discount on decommissioning provision (note 8) 287 213 521 Foreign exchange on decommissioning provision \- 45 424 Interest on right to use asset 1 \- 2 Issued costs associated with the warrants 133 \- \- Movement in fair value of warrants (note 9) 7,764 \- \- Total finance expense recognised in income statement 8,185 258 947 PROVIDENCE RESOURCES P.l.c. FREE Shipping on your first order shipped by Amazon . The option price is the market price immediately preceding the date of the grant. Aug 4, 2019 | by PVR Media.
The government confirmed that existing licences would be unaffected and will proceed as normal.
The unaudited consolidated interim financial statements of the Company for the six months ended 30 June 2020 (the "Interim Financial Statements") include the Company and its subsidiaries (together referred to as the "Group"). Providence Resources considers the Barryroe development to be a project of national importance which, when approved and commissioned, will make a significant contribution to the Irish economy and exchequer and bring direct long-term financial benefits and employment to Cork and surrounding areas. Energy security is essential for a strong economy, and government economic forecasts confirm the long term need for efficiently developed hydrocarbons to support energy reliability and stability in Ireland.
The auditor’s report on those financial statements was unqualified and contains a “material uncertainty related to going concern” paragraph.The condensed set of financial statements included in this half-yearly financial report has been prepared on a going concern basis as the Directors consider that the Group has adequate resources to continue in operational existence for the foreseeable future (See below for further details on the Directors assessment of going concern).In preparing these interim financial statements, management has made judgements and estimates that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. The Group’s accounting policy relating to these is as follows:The Group classifies instruments issued as financial liabilities or equity instruments in accordance with the substance of the contractual terms of the instruments. The consortium is made up of Schlumberger, AGR, Maresk Drilling, Keppel FELS, Aker Solutions and Aibel AS. After making enquiries and considering the uncertainties described above, the Directors have a reasonable expectation that the Group and Company have adequate resources to continue in operational existence for the foreseeable future.
39.9 cr: ICICI Direct, PVR Q4 PAT seen up 77.8% YoY to Rs. The warrants are non-transferrable. (PVR LN, PRP ID), the Irish based resource development company (“Providence” or the “Company”), announces that 16,433,333 warrants of 3p each have been exercised raising £492,999 for the Company. Copyright © e-Eighteen.com Ltd. All rights reserved.
33% of the total number of options granted are exercisable after two years of grant provided that the agreed criteria by the Remuneration committee have been met. ISIN: INE191H01014 | SECTOR: Media & EntertainmentMedia & Entertainment, Unlock 5: PVR, Inox Leisure shares jump 12% each as govt allows reopening of cinema halls with 50% occupancy, PVR, Inox Leisure shares jump 5-10% after West Bengal allows reopening of cinema halls from Oct 1, Hold PVR; target of Rs 1260: ICICI Direct, Accumulate PVR; target of Rs 1435: Prabhudas Lilladher, PVR Standalone March 2020 Net Sales at Rs 623.51 crore, down 13.87% Y-o-Y, PVR Consolidated March 2020 Net Sales at Rs 645.13 crore, down 22.98% Y-o-Y, PVR feels lockdown pain, slumps to Q4 loss of Rs 74.61 crore, PVR Standalone December 2019 Net Sales at Rs 877.37 crore, up 26.25% Y-o-Y, PVR Q1 PAT may dip 23.5% YoY to Rs.
(PVR LN, PRP ID), the Irish based Energy Company, today announces its unaudited interim results for the half year ended June 30, 2020.
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