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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Block Energy Plc | LSE:BLOE | London | Ordinary Share | GB00BF3TBT48 | ORD SHS GBP0.0025 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.75 | 1.65 | 1.85 | 1.75 | 1.75 | 1.75 | 218,907 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Minrls,earths-ground,treated | 8.26M | -1.61M | -0.0024 | -7.29 | 11.91M |
TIDMBLOE
RNS Number : 6949L
Block Energy PLC
04 January 2023
4 January 2023
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 it has issued nil-cost options and shares.
On 4 January 2023, the Company granted nil-cost options over a total of 1,652,130 ordinary shares of 0.25p each ("Options") to directors and employees. The Options were granted in lieu of cash payment for 40% of salaries and up to 50% of directors' fees, in accordance with the cash conservation measures announced on 7 April 2020 and subsequent agreements with the employees and non-executive directors for 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 calendar month that the services were provided.
Also, pursuant to agreements to exercise options immediately upon grant, on 4 January 2023:
1. Philip Dimmock, Non-Executive Chairman, exercised nil cost options to acquire 147,849 ordinary shares of 0.25 pence each;
2. Jeremy Asher, Non-Executive Director, exercised nil cost options to acquire 100,806 ordinary shares of 0.25 pence each; and
3. Kenneth Seymour, Non-Executive Director, exercised nil cost options to acquire 100,806 ordinary shares of 0.25 pence each.
Of the total number of Options granted, 1,047,310 Options were granted to PDMRs, as shown in the table below.
PDMR Position Number Number Resulting Resulting Resulting of Options of Options total options total ordinary total ordinary granted exercised held over shares shares following ordinary following exercise shares exercise Chief Executive Paul Haywood Officer 538,172 48,133,531 12,544,381 1.88% ----------------- ------------ ------------ --------------- ---------------- ----------------- Chief Financial William McAvock Officer 159,677 16,305,257 4,039,130 0.60% ----------------- ------------ ------------ --------------- ---------------- ----------------- Non-Executive Philip Dimmock Chairman 147,849 147,849 928,612 2,942,357 0.43% ----------------- ------------ ------------ --------------- ---------------- ----------------- Non-Executive Jeremy Asher Director 100,806 100,806 0 1,454,309 0.21% ----------------- ------------ ------------ --------------- ---------------- ----------------- Non-Executive Kenneth Seymour Director 100,806 100,806 0 1,880,972 0.28% ----------------- ------------ ------------ --------------- ---------------- -----------------
Additionally, on 4 January 2023, the Company allotted a net 139,228 ordinary shares of 0.25p each to two service providers in lieu of cash settlement for services provided to the Company with a total value of GBP5,783.
Application will be made for the admission to trading on AIM ("Admission") for the 488,689 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 10 January 2023.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 681,127,081 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 681,127,081 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 Communications 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) has 2P reserves of 64 MMboe, comprising 2P oil reserves of 36 MMbbls and 2P gas reserves of 28 MMboe (Source: CPR Bayphase Limited: 1 July 2015). Additionally, following an internal technical study designed to evaluate and quantify the undrained oil potential of the Middle Eocene within the Patardzeuli field, the Company has estimated gross unrisked 2C contingent resources of 200 MMbbls of oil. Licence block XI(B) is Georgia's most productive block, with historical 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 licence block XI(F) , which contains the West Rustavi onshore oil and gas field. Multiple wells have tested oil and gas from a range of geological horizons. The field has produced over 75 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
-- bbls: barrels. A barrel is 35 imperial gallons. -- Bcf: billion cubic feet. -- boe: barrels of oil equivalent. -- bopd: barrels of oil per day. -- Mbbls: thousand barrels. -- MMbbls: million barrels. -- MMboe: million barrels of oil equivalent.
Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.
Details of the person discharging managerial responsibilities 1 / person closely associated a) Name Paul Haywood -------------------------------- ----------------------------------- Reason for notification 2 --------------------------------------------------------------------- a) Position / status CEO -------------------------------- ----------------------------------- b) Initial notification Initial notification /Amendment -------------------------------- ----------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor --------------------------------------------------------------------- a) Name Block Energy plc -------------------------------- ----------------------------------- b) LEI 213800E2J8QA1J6KN415 -------------------------------- ----------------------------------- Details of the transaction(s): section to be repeated for 4 (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 538,172 ----------- -------------------------------- ----------------------------------- d) Aggregated information n/a -------------------------------- ----------------------------------- e) Date of the transaction 4 January 2023
-------------------------------- ----------------------------------- 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.
Details of the person discharging managerial responsibilities 1 / person closely associated a) Name William McAvock -------------------------------- ----------------------------------- Reason for notification 2 --------------------------------------------------------------------- a) Position / status CFO -------------------------------- ----------------------------------- b) Initial notification Initial notification /Amendment -------------------------------- ----------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor --------------------------------------------------------------------- a) Name Block Energy plc -------------------------------- ----------------------------------- b) LEI 213800E2J8QA1J6KN415 -------------------------------- ----------------------------------- Details of the transaction(s): section to be repeated for 4 (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 159,677 ----------- -------------------------------- ----------------------------------- d) Aggregated information n/a -------------------------------- ----------------------------------- e) Date of the transaction 4 January 2023 -------------------------------- ----------------------------------- 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.
Details of the person discharging managerial responsibilities 1 / person closely associated a) Name Philip Dimmock -------------------------------- ----------------------------------- Reason for notification 2 --------------------------------------------------------------------- a) Position / status Non-Executive Chairman -------------------------------- ----------------------------------- b) Initial notification Initial notification /Amendment -------------------------------- ----------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor --------------------------------------------------------------------- a) Name Block Energy plc -------------------------------- ----------------------------------- b) LEI 213800E2J8QA1J6KN415 -------------------------------- ----------------------------------- Details of the transaction(s): section to be repeated for 4 (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 1) Grant of share options 2) Exercise of share options -------------------------------- ----------------------------------- c) Price(s) and volumes(s) Price(s) Volumes(s) 1) 0p 1) 147,849 2) 0p 2) 147,849 ------------ -------------------------------- ----------------------------------- d) Aggregated information n/a -------------------------------- ----------------------------------- e) Date of the transactions 4 January 2023 -------------------------------- ----------------------------------- 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.
Details of the person discharging managerial responsibilities 1 / person closely associated a) Name Jeremy Asher -------------------------------- ----------------------------------- Reason for notification 2 --------------------------------------------------------------------- a) Position / status Non-Executive Director -------------------------------- ----------------------------------- b) Initial notification Initial notification /Amendment -------------------------------- ----------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor --------------------------------------------------------------------- a) Name Block Energy plc -------------------------------- ----------------------------------- b) LEI 213800E2J8QA1J6KN415 -------------------------------- ----------------------------------- Details of the transaction(s): section to be repeated for 4 (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 1) Grant of share options 2) Exercise of share options -------------------------------- ----------------------------------- c) Price(s) and volumes(s) Price(s) Volumes(s) 1) 0p 1) 100,806 2) 0p 2) 100,806 ------------ -------------------------------- ----------------------------------- d) Aggregated information n/a -------------------------------- ----------------------------------- e) Date of the transactions 4 January 2023 -------------------------------- ----------------------------------- 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.
Details of the person discharging managerial responsibilities 1 / person closely associated a) Name Kenneth Seymour -------------------------------- ----------------------------------- Reason for notification 2 --------------------------------------------------------------------- a) Position / status Non-Executive Director -------------------------------- ----------------------------------- b) Initial notification Initial notification /Amendment -------------------------------- ----------------------------------- Details of the issuer, emission allowance market participant, 3 auction platform, auctioneer or auction monitor --------------------------------------------------------------------- a) Name Block Energy plc -------------------------------- ----------------------------------- b) LEI 213800E2J8QA1J6KN415 -------------------------------- ----------------------------------- Details of the transaction(s): section to be repeated for 4 (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 1) Grant of share options 2) Exercise of share options -------------------------------- ----------------------------------- c) Price(s) and volumes(s) Price(s) Volumes(s) 1) 0p 1) 100,806 2) 0p 2) 100,806 ------------ -------------------------------- ----------------------------------- d) Aggregated information n/a -------------------------------- ----------------------------------- e) Date of the transactions 4 January 2023 -------------------------------- ----------------------------------- f) Place of the transactions Outside a trading venue -------------------------------- -----------------------------------
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January 04, 2023 09:01 ET (14:01 GMT)
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