Providence begins trading on AIM

Shares in Providence Resources started trading on the Alternative Investment Market of the London Stock Exchange today.

Ordinary shares in Providence commenced trading today at 4p, equivalent to the mid-market closing price on the Irish Stock Exchange on June 23 of €0.056.

Providence is an international oil and gas company, which has been listed on the Irish Stock Exchange since 1997. The company was founded over 25 years ago and has operations in Ireland, the UK and Nigeria, West Africa.

The board of Providence believes admission to AIM will contribute to enhancing the profile of the company in the UK, where it already has an established shareholder base.

Dr Brian Hillery, chairman of Providence Resources said: "Providence is in an exciting phase of its development with geographically diversified assets and prospects.

"The enhanced visibility, support, access to new investors and opportunities that AIM provides will, we believe, help us build shareholder value as we drive the business forward."