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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.225 | 13.43% | 1.90 | 1.85 | 1.95 | 1.975 | 1.675 | 1.675 | 7,428,792 | 12:03:10 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Minrls,earths-ground,treated | 8.26M | -1.61M | -0.0024 | -8.00 | 13.06M |
TIDMBLOE
RNS Number : 6710X
Block Energy PLC
02 September 2020
2 September 2020
Block Energy Plc
("Block Energy" or the "Company")
Issue of Equity and PDMR Dealing
Block Energy Plc, the exploration and production company focused on Georgia, announces that, on 1 September 2020, it issued nil-cost options over a total of 927,809 ordinary shares of 0.25p each ("Options") to directors/PDMRs, employees and a consultant. The Options were issued in lieu of payment of cash for 40% of salaries, directors' fees and consultancy fees for the month of August 2020, in accordance with the cash conservation measures announced on 7 April 2020. Of the total number of Options issued, 509,221 options were issued to directors/PDMRs, as shown in the table below.
The number of shares were calculated by dividing 40% of the monthly salary or fee by the volume weighted average price of the ordinary shares during the month of August 2020.
PDMR Position Number of Options Resulting total granted options held over Ordinary Shares Chief Executive Paul Haywood Officer 209,679 13,543,507 ------------------------ ------------------ ---------------- Chief Financial William McAvock Officer 149,771 4,115,771 ------------------------ ------------------ ---------------- Philip Dimmock Non-Executive Chairman 65,899 376,362 ------------------------ ------------------ ---------------- Roger McMechan Non-Executive Director 41,936 6,881,569 ------------------------ ------------------ ---------------- Chris Brown Non-Executive Director 41,936 237,697 ------------------------ ------------------ ----------------
Additionally, today, the Company allotted 544,400 ordinary shares of 0.25p each to three service providers in lieu of cash settlement for services provided to the Company with a total value of GBP13,184.
Application will be made for the admission to trading on AIM ("Admission") for the 544,400 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 7 September 2020.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 436,843,043 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 436,843,043 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**
The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to these PDMR dealings.
For further information please visit http://www.blockenergy.co.uk/ or contact:
Paul Haywood Block Energy Plc Tel: +44 (0)20 (Chief Executive 3980 6250 Officer) Neil Baldwin Spark Advisory Partners Tel: +44 (0)20 (Nominated Adviser) Limited 3368 3554 Peter Krens Mirabaud Securities Limited Tel: +44 (0)20 (Corporate Broker) 3167 7221 Billy Clegg / Owen Camarco Tel: +44 (0)20 Roberts / Violet 3757 4980 Wilson (Financial PR)
Notes to editors
Block Energy 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.
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 Energy also holds 100% and 90% working interests in the onshore oil producing Norio and Satskhenisi fields. It has recently entered into a conditional sale and purchase agreement for Georgian onshore Blocks XIB and IX.
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.
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 /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 Issue of options in lieu of cash payment for salary -------------------------------- ----------------------------------- c) Price(s) and volumes(s) Price(s) Volumes(s) 2.78203p 209,679 ----------- -------------------------------- ----------------------------------- d) Aggregated information n/a -------------------------------- ----------------------------------- e) Date of the transaction 1 September 2020 -------------------------------- ----------------------------------- 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 /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 Issue of options in lieu of cash payment for fees -------------------------------- ----------------------------------- c) Price(s) and volumes(s) Price(s) Volumes(s) 2.78203p 65,899 -----------
-------------------------------- ----------------------------------- d) Aggregated information n/a -------------------------------- ----------------------------------- e) Date of the transactions 1 September 2020 -------------------------------- ----------------------------------- 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 Roger McMechan -------------------------------- ----------------------------------- 2 Reason for notification --------------------------------------------------------------------- a) Position / status Non-Executive Director -------------------------------- ----------------------------------- b) Initial notification Initial /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 Issue of options in lieu of cash payment for fees -------------------------------- ----------------------------------- c) Price(s) and volumes(s) Price(s) Volumes(s) 2.78203p 41,936 ----------- -------------------------------- ----------------------------------- d) Aggregated information n/a -------------------------------- ----------------------------------- e) Date of the transaction 1 September 2020 -------------------------------- ----------------------------------- 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 William McAvock -------------------------------- ----------------------------------- 2 Reason for notification --------------------------------------------------------------------- a) Position / status CFO -------------------------------- ----------------------------------- b) Initial notification Initial /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 Issue of options in lieu of cash payment for salary -------------------------------- ----------------------------------- c) Price(s) and volumes(s) Price(s) Volumes(s) 2.78203p 149,771 ----------- -------------------------------- ----------------------------------- d) Aggregated information n/a -------------------------------- ----------------------------------- e) Date of the transaction 1 September 2020 -------------------------------- ----------------------------------- 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 Chris Brown -------------------------------- ----------------------------------- 2 Reason for notification --------------------------------------------------------------------- a) Position / status Non-Executive Director -------------------------------- ----------------------------------- b) Initial notification Initial /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 Issue of options in lieu of cash payment for fees -------------------------------- ----------------------------------- c) Price(s) and volumes(s) Price(s) Volumes(s) 2.78203p 41,936 ----------- -------------------------------- ----------------------------------- d) Aggregated information n/a -------------------------------- ----------------------------------- e) Date of the transactions 1 September 2020 -------------------------------- ----------------------------------- f) Place of the transactions Outside a trading venue -------------------------------- -----------------------------------
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September 02, 2020 02:06 ET (06:06 GMT)
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