Progress Update

 

TIDMBLS 
 
RNS Number : 0192R 
Block Shield Corporation PLC 
23 April 2009 
 

 
 
 
 
 
Block Shield Corporation plc 
('Block Shield' or 'the Group') 
 
 
Progress Update 
 
 
As previously stated in the circular sent to shareholders on 8 April 2009, Block 
Shield reports that Mu-Gahat Enterprises LLC ("Mu-Gahat Enterprises"), the 
Group's Native American licensee for RFID gaming technology, was contracted to 
complete certain in the field beta testing of its gaming product on behalf of 
Essential Gaming, Inc. ("Essential Gaming"). Whilst this testing has now been 
completed and has yielded very positive results, Mu-Gahat Enterprises and 
Essential Gaming have been unable to agree on the scope and terms of certain 
additional work which Essential Gaming are requiring to be undertaken to permit 
the conditions precedent to this contract to be completed to their satisfaction. 
Accordingly, discussion on this contact has now been suspended. 
 
 
 
Both the Group and Mu-Gahat Enterprises remain in active discussions for a beta 
test site with a Native American casino as well as other commercial gaming 
partners. 
 
 
Furthermore, in accordance with the Group's previously announced intentions to 
reduce its cash burn and concentration on gaming, the Company is in discussions 
to sub-contract its Rfidium inlay operations to a third party. 
 
 
Block 
Shield announced on 8 April 2009 that it intended to seek shareholder approval 
for the cancellation of admission to trading on AIM of its ordinary shares ("the 
De-Listing"). The General Meeting is being convened at 11.00 a.m. on 24 April 
2009 and will be held at the offices of Lawrence Graham LLP at 4 More London 
Riverside, SE1 2AU at which a resolution will be proposed to approve the 
De-Listing. If the Resolution is passed at the General Meeting, the last day of 
trading of the Company's ordinary shares will be 11 May 2009 and the De-Listing 
will be effective from 7.00 a.m. on 12 May 2009. 
 
 
 
 
Enquiries: 
 
 
+-----------------------------+------------------+--------------------------------+ 
| Block Shield Corporation    |                  |                                | 
| Plc                         |                  |                                | 
+-----------------------------+------------------+--------------------------------+ 
| Edwin Oh, Chief Executive   | [phone]  |                                | 
| Officer                     |                  |                                | 
+-----------------------------+------------------+--------------------------------+ 
|                             |                  |                                | 
+-----------------------------+------------------+--------------------------------+ 
|                             |                  |                                | 
+-----------------------------+------------------+--------------------------------+ 
| Ambrian Partners Limited    | [phone] |                                | 
+-----------------------------+------------------+--------------------------------+ 
| Nominated Adviser           |                  |                                | 
+-----------------------------+------------------+--------------------------------+ 
| Samantha Harrison           |                  |                                | 
+-----------------------------+------------------+--------------------------------+ 
 
 
 
 
-END- 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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