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Block Energy PLC

Block Energy PLC - Issue of Equity

RNS Number : 2988B
Block Energy PLC
05 June 2019
 

 

 

Block Energy PLC

("Block Energy" or "the Company")

 

Issue of Equity

Block Energy plc (AIM: BLOE), the exploration and production company focused on the Republic of Georgia, announces that it has today allotted 1,469,125 ordinary shares of 0.25p in the capital of the Company ("Ordinary Shares"), details of which are set out below:

1,091,291 Ordinary Shares have been allotted as full and final settlement of deferred consideration in line with the Taoudeni Resources Limited share purchase agreement (details of which are set out in the Company's Admission Document dated 4 June 2018). 977,383 of these Ordinary Shares have been allotted to Plutus Strategies Limited, a company in which Paul Haywood, Chief Executive, and Niall Tomlinson, Executive Director, have an interest. The agreement to issue these shares was completed on the 3rd March 2016 at a time when the Company's share price (adjusted for subsequent share consolidations) was 15p.

163,418 new Ordinary Shares have been allotted to Philip Dimmock, Chairman, at an average price of 3.67p in settlement of fees amounting to £6,000 due to him. In addition 69,957 new Ordinary Shares have been allotted to Chris Brown, Non-Executive Director, at an average price of 3.81p in settlement of fees of £2,667 due to him. The issue price of these shares has been calculated monthly, based on the 30 day volume weighted average price ("VWAP") for the periods to which these fees relate. The agreement to issue shares semi-annually in lieu of fees was made in 2018. The Company has been in a closed period and unable to issue shares to directors for a large portion of 2019.

144,459 new Ordinary Shares have been allotted to a consultant to the Company as settlement for services provided on the Georgian operations since January 2019, to a value of £7,685.

Application will be made for the admission to trading on AIM ("Admission") for the 1,469,125 new Ordinary Shares.  The new 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 11 June 2019.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise 388,413,993 Ordinary Shares which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.  The Company does not hold any shares in treasury. 

For further information contact:

 

 

Paul Haywood

(Chief Executive Officer)

 

Block Energy Plc

Tel: +44 (0) 20 3053 3631

Neil Baldwin

(Nominated Adviser)

 

 

Spark Advisory Partners Limited

Tel: +44 (0) 20 3368 3554

Peter Krens (Broker)

 

 

Mirabaud Securities Limited

Tel: +44 (0) 20 3167 7221

 

 

 

 

Frank Buhagiar/Juliet Earl

(Financial PR)

 

St Brides Partners Ltd

Tel: +44 (0) 20 7236 1177

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.

 

1

Details  of  th person  dischargin managerial  responsibilitie  person  closely associated

a)

Name

Paul Haywood

2

Reason for notification

a)

Position / status

Director

b)

Initial notification

/Amendment

Initial

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 placwhere transactionhave been conducted

a)

Description  of  the financial instrument, type of instrument

Identification code

Ordinary shares in Block Energy plc

 

 

ISIN GB00BF3TBT48

 

 

Nature of the transaction

Issue of shares as settlement of deferred consideration to Plutus Strategies Limited, a company in which Mr Haywood has an interest

 

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

     15p

977,383

 

d)

Aggregated information

n/a

e)

Date of the transaction

5 June 2019

f)

Place of the transaction

London

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.

 

1

Details  of  th person  dischargin managerial  responsibilitie  person  closely associated

a)

Name

Niall Tomlinson

2

Reason for notification

a)

Position / status

Director

b)

Initial notification

/Amendment

Initial

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 placwhere transactionhave been conducted

a)

Description  of  the financial instrument, type of instrument

Identification code

Ordinary shares in Block Energy plc

 

 

ISIN GB00BF3TBT48

 

 

Nature of the transaction

Issue of shares as settlement of deferred consideration to Plutus Strategies Limited, a company in which Mr Tomlinson has an interest

 

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

     15p

977,383

 

d)

Aggregated information

n/a

e)

Date of the transaction

5 June 2019

f)

Place of the transaction

London

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.

 

1

Details  of  th person  dischargin managerial  responsibilitie  person  closely associated

a)

Name

Philip Dimmock

2

Reason for notification

a)

Position / status

Chairman

b)

Initial notification

/Amendment

Initial

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 placwhere transactionhave been conducted

a)

Description  of  the financial instrument, type of instrument

Identification code

Ordinary shares in Block Energy plc

 

 

ISIN GB00BF3TBT48

 

 

Nature of the transaction

Issue of shares as settlement of directors fees

 

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

     3.67p

163,418

 

d)

Aggregated information

n/a

e)

Date of the transaction

5 June 2019

f)

Place of the transaction

London

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.

 

1

Details  of  th person  dischargin managerial  responsibilitie  person  closely associated

a)

Name

Chris Brown

2

Reason for notification

a)

Position / status

Director

b)

Initial notification

/Amendment

Initial

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 placwhere transactionhave been conducted

a)

Description  of  the financial instrument, type of instrument

Identification code

Ordinary shares in Block Energy plc

 

 

ISIN GB00BF3TBT48

 

 

Nature of the transaction

Issue of shares as settlement of directors fees

 

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

    3.81p

69,957

 

d)

Aggregated information

n/a

e)

Date of the transaction

5 June 2019

f)

Place of the transaction

London

 


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