TIDMBLOE
RNS Number : 5435K
Block Energy PLC
02 September 2021
2 September 2021
Block Energy plc
("Block" or the "Company")
Issue of Options and Shares and PDMR Dealing
Block Energy plc, the development and production company focused
on Georgia, announces that, on 1 September 2021, it issued nil-cost
options over a total of 1,151,680 ordinary shares of 0.25p each
("Options") to directors/PDMRs and employees. The Options were
issued in lieu of payment of cash for 40% of salaries and up to 50%
of directors' fees for the month of August 2021, in accordance with
the cash conservation measures announced on 7 April 2020 ("Cash
Conservation Measures") and subsequent agreements with the
non-executive directors for 50% of directors' fees to be paid in
nil-cost options in lieu of cash payment. The number of shares was
calculated by dividing the amount of monthly salary or fee to be
paid in Options by the volume weighted average price of the
ordinary shares during the month of August 2021.
Of the total numbers of Options issued, 570,731 Options were
issued to directors/PDMRs, as shown in the table below.
PDMR Position Number of Options Resulting total
granted options held
over ordinary
shares
Chief Executive
Paul Haywood Officer 244,984 15,209,731
------------------------ ------------------ ----------------
Chief Financial
William McAvock Officer 174,988 9,336,395
------------------------ ------------------ ----------------
Philip Dimmock Non-Executive Chairman 69,995 415,227
------------------------ ------------------ ----------------
Charles Valceschini Non-Executive Director 47,724 384,405
------------------------ ------------------ ----------------
Jeremy Asher Non-Executive Director 33,040 33,040
------------------------ ------------------ ----------------
Additionally, today, the Company allotted 62,005 ordinary shares
of 0.25p each to a service provider in lieu of cash settlement for
services provided to the Company with a total value of
GBP1,624.
Application will be made for the admission to trading on AIM
("Admission") for the 62,005 ordinary shares. The ordinary shares
will rank pari passu in all respects with the existing ordinary
shares of the Company. Admission is expected at 8.00 a.m. on or
around 8 September 2021.
Total Voting Rights
Following Admission, the Company's issued share capital will
comprise 626,041,323 ordinary shares with one voting right each. As
the Company does not hold any shares in Treasury, the total number
of voting rights in the Company is also 626,041,323 and this figure
of ordinary shares may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.
**S**
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
For further information please visit
http://www.blockenergy.co.uk/ or contact:
Paul Haywood Block Energy plc Tel: +44 (0)20
(Chief Executive 3468 9891
Officer)
Neil Baldwin Spark Advisory Partners Tel: +44 (0)20
(Nominated Adviser) Limited 3368 3554
Peter Krens Tennyson Securities Tel: +44 (0)20
(Corporate Broker) 7186 9030
Mark Antelme Celicourt Tel: +44 (0)20
Philip Dennis 8434 2643
(Financial PR Adviser)
Notes to editors
Block Energy plc is an AIM-listed independent oil and gas
company focused on production and development in Georgia, applying
innovative technology to realise the full potential of previously
discovered fields.
Block has a 100% working interest in Georgian onshore licence
blocks IX and XI(B) . Licence block XI(B) is Georgia's most
productive block, with 2P oil and gas reserves of 64 MMboe, which
is comprised 2P oil reserves of 36 MMbbls and 2P gas reserves of 28
MMboe (Source: CPR Bayphase Limited: 1 July 2015) and historic
production of over 180 MMbbls of oil from the Middle Eocene,
peaking in the mid-1980s at 67,000 bopd.
The Company has a 100% working interest in the highly
prospective West Rustavi onshore oil and gas field with multiple
wells that have tested oil and gas from a range of geological
horizons. The field has so far produced 50 Mbbls of light sweet
crude and has 0.9 MMbbls of gross 2P oil reserves in the Middle
Eocene. It also has 38 MMbbls of gross unrisked 2C contingent
resources of oil and 608 Bcf of gross unrisked 2C contingent
resources of gas in the Middle, Upper and Lower Eocene formations
(Source: CPR Gustavson Associates: 1 January 2018).
Block also holds 100% and 90% working interests respectively in
the onshore oil producing Norio and Satskhenisi fields.
The Company offers a clear entry point for investors to gain
exposure to Georgia's growing economy and the strong regional
demand for oil and gas.
Glossary
1. bbls: barrels. A barrel is 35 imperial gallons.
2. boe: barrels of oil equivalent.
3. bopd: barrels of oil per day.
4. Mbbls: thousand barrels.
5. MMbbls: million barrels.
6. MMboe: million barrels of oil equivalent.
7. Bcf: billion cubic feet.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities ("PDMRs") and persons
closely associated ("PCA") with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Paul Haywood
-------------------------------- -----------------------------------
2 Reason for notification
---------------------------------------------------------------------
a) Position / status CEO
-------------------------------- -----------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Block Energy plc
-------------------------------- -----------------------------------
b) LEI 213800E2J8QA1J6KN415
-------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of the financial Options to acquire ordinary shares
instrument, type of instrument in Block Energy plc
Identification code ISIN GB00BF3TBT48
-------------------------------- -----------------------------------
b) Nature of the transaction Grant of share options
-------------------------------- -----------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0p 244,984
-----------
-------------------------------- -----------------------------------
d) Aggregated information n/a
-------------------------------- -----------------------------------
e) Date of the transaction 1 September 2021
-------------------------------- -----------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- -----------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities ("PDMRs") and persons
closely associated ("PCA") with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Philip Dimmock
-------------------------------- -----------------------------------
2 Reason for notification
---------------------------------------------------------------------
a) Position / status Non-Executive Chairman
-------------------------------- -----------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Block Energy plc
-------------------------------- -----------------------------------
b) LEI 213800E2J8QA1J6KN415
-------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of the financial Options to acquire ordinary shares
instrument, type of instrument in Block Energy plc
Identification code ISIN GB00BF3TBT48
-------------------------------- -----------------------------------
b) Nature of the transactions Grant of share options
-------------------------------- -----------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0p 69,995
-----------
-------------------------------- -----------------------------------
d) Aggregated information n/a
-------------------------------- -----------------------------------
e) Date of the transactions 1 September 2021
-------------------------------- -----------------------------------
f) Place of the transactions Outside a trading venue
-------------------------------- -----------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities ("PDMRs") and persons
closely associated ("PCA") with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name William McAvock
-------------------------------- -----------------------------------
2 Reason for notification
---------------------------------------------------------------------
a) Position / status CFO
-------------------------------- -----------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Block Energy plc
-------------------------------- -----------------------------------
b) LEI 213800E2J8QA1J6KN415
-------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of the financial Options to acquire ordinary shares
instrument, type of instrument in Block Energy plc
Identification code ISIN GB00BF3TBT48
-------------------------------- -----------------------------------
b) Nature of the transaction Grant of share options
-------------------------------- -----------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0p 174,988
-----------
-------------------------------- -----------------------------------
d) Aggregated information n/a
-------------------------------- -----------------------------------
e) Date of the transaction 1 September 2021
-------------------------------- -----------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- -----------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities ("PDMRs") and persons
closely associated ("PCA") with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Charles Valceschini
-------------------------------- -----------------------------------
2 Reason for notification
---------------------------------------------------------------------
a) Position / status Non-Executive Director
-------------------------------- -----------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Block Energy plc
-------------------------------- -----------------------------------
b) LEI 213800E2J8QA1J6KN415
-------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of the financial Options to acquire ordinary shares
instrument, type of instrument in Block Energy plc
Identification code ISIN GB00BF3TBT48
-------------------------------- -----------------------------------
b) Nature of the transactions Grant of share options
-------------------------------- -----------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0p 47,724
-----------
-------------------------------- -----------------------------------
d) Aggregated information n/a
-------------------------------- -----------------------------------
e) Date of the transactions 1 September 2021
-------------------------------- -----------------------------------
f) Place of the transactions Outside a trading venue
-------------------------------- -----------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities ("PDMRs") and persons
closely associated ("PCA") with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jeremy Asher
-------------------------------- -----------------------------------
2 Reason for notification
---------------------------------------------------------------------
a) Position / status Non-Executive Director
-------------------------------- -----------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Block Energy plc
-------------------------------- -----------------------------------
b) LEI 213800E2J8QA1J6KN415
-------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of the financial Options to acquire ordinary shares
instrument, type of instrument in Block Energy plc
Identification code ISIN GB00BF3TBT48
-------------------------------- -----------------------------------
b) Nature of the transactions Grant of share options
-------------------------------- -----------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0p 33,040
-----------
-------------------------------- -----------------------------------
d) Aggregated information n/a
-------------------------------- -----------------------------------
e) Date of the transactions 1 September 2021
-------------------------------- -----------------------------------
f) Place of the transactions Outside a trading venue
-------------------------------- -----------------------------------
, the news service of the London Stock Exchange. RNS is approved by
the Financial Conduct Authority to act as a Primary Information
Provider in the United Kingdom. Terms and conditions relating to
the use and distribution of this information may apply. For further
information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHLTMLTMTIMMIB
(END) Dow Jones Newswires
September 02, 2021 05:46 ET (09:46 GMT)
Block Energy (LSE:BLOE)
Historical Stock Chart
From Apr 2024 to May 2024
Block Energy (LSE:BLOE)
Historical Stock Chart
From May 2023 to May 2024