REG - Block Energy PLC - Director/PDMR Shareholding

Block EnergyAnnouncement

07/02/2025 07:00

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RNS Number : 2504W  Block Energy PLC  07 February 2025

7 February 2025

Block Energy plc

("Block" or the "Company")

Issue of Options and Shares, Exercise of Options and PDMR Dealing

Issue of Bonus Options and Shares

Block operates a performance related scheme ("Scheme") for senior executives
within the Company. Awards under the Scheme are determined by the Renumeration
Committee ("RemCom") and typically made in February for the previous year.
Awards can be made in cash, shares or by the issue of nil-cost options at the
discretion of the RemCom.

After a review of performance against established Key Performance Indicators,
the RemCom has determined that for the financial year ended 3 December 2024
("FY2024"), bonus awards are to be awarded to a Director, two PDMRs and four
members of staff. Following consultations with the Director, the PDMRs and the
members of staff, the RemCom has elected to settle the bonuses by way of issue
of 35,912,008 ordinary shares of 0.25p each ("Ordinary Shares") and 10,548,289
nil-cost options over Ordinary Shares ("Options"). The number of Ordinary
Shares and Options has been determined by dividing the respective bonus by the
Volume Weighted Average Price ("VWAP") of the Company's Ordinary Shares for
January 2025 which equals 0.7385p per Ordinary Share.

Exercise of Options

On 6 February 2025, Paul Haywood, Chief Executive Officer and Director
exercised nil-cost options to acquire 1,058,640 Ordinary Shares of 0.25p each
and Fergus Robson, Commercial Manager and PDMR exercised nil-cost options to
acquire 995,025 Ordinary Shares of 0.25p each.

2,053,665 of the shares held in the Block Energy plc Employee Benefit Trust
("EBT") will be used to satisfy the exercise of the nil-cost options.
Following this exercise, the remaining number of shares held by the EBT will
be 70,567,687, representing 9.17% of the current issued share capital.

The issue of Shares and Options issued to Directors and PDMRs are set out in
the table below:

 Name              Position            Number of Options Granted  Number of Ordinary Shares Granted  Number of Options Exercised  Resulting Total Options Held Over Ordinary Shares  Resulting Total Ordinary Shares Following Award and Exercise  Resulting Total Ordinary Shares Following Award and Exercise
 Paul Haywood      CEO                 -                          31,167,431                         1,058,640                    75,751,143                                         44,770,452                                                    5.82%
 Guram Maisuradze  COO                 4,695,418                  -                                  -                            12,112,045                                         -                                                             0.00%
 Fergus Robson     Commercial Manager  -                          4,744,577                          995,025                      11,968,541                                         5,739,602                                                     0.75%

Application will be made for the admission to trading on AIM ("Admission") for
the 35,912,008 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 12 February 2025.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise
769,307,945 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 769,307,945 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.

**ENDS**

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 AMENDED.  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 3468 9891

 (Chief Executive Officer)
 Neil Baldwin                Spark Advisory Partners Limited  Tel: +44 (0)20 3368 3554

 (Nominated Adviser)
 Peter Krens                 Tennyson Securities              Tel: +44 (0)20 7186 9030

 (Corporate Broker)
 Mark Antelme                Celicourt Communications         Tel: +44 (0)20 7770 6424

 Philip Dennis

 Ali AlQahtani

 (Financial PR Adviser)

 

Notes to editors

Block Energy plc is an AIM quoted independent oil and gas production and
development company with a strategic focus on unlocking the energy potential
of Georgia. With interests in seven Production Sharing Contracts in central
Georgia, covering an area of 4,256 km2, including the XIB licence which has
over 2.77TCF of 2C contingent gas resources, with an estimated Net Present
Value 10 ("NPV") of USD 1.65 billion, in the Patardzueli-Samgori, Rustavi and
Teleti fields. (Source: IER, OPC 2024 & Internal estimates).

The Company has structured its operations around a four-project strategy.
These projects, characterized by development stage, hydrocarbon type, and
reservoir, are pursued concurrently to achieve multiple objectives. This
includes increasing existing production, redeveloping fields, discovering new
oil and gas deposits, and capitalizing on the substantial, yet untapped, gas
resource across its licences. The goal is to deliver on multi TCF gas assets,
strategically well located for the key EU market, supported by partner funding
and cash from existing producing assets.

Located near the Georgian capital of Tbilisi, Block Energy is well-positioned
to contribute significantly to the region's energy landscape. This proximity
facilitates seamless operations and underscores our commitment to the economic
and energy development of Georgia.

Glossary

·    bbls: barrels. A barrel is 35 imperial gallons.

·    Bcf: billion cubic feet.

·    boe: barrels of oil equivalent.

·    boepd: barrels of oil equivalent per day.

·    bopd: barrels of oil per day.

·    Mbbls: thousand barrels.

·    Mboe: thousand barrels of oil equivalent.

·    Mcf: thousand cubic feet.

·    MMbbls: million barrels.

·    MMboe: million barrels of oil equivalent.

·    MMcf: million 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 instrument, type of instrument                                      Ordinary shares in Block Energy plc

     Identification code                                                                              ISIN GB00BF3TBT48
 b)  Nature of the transaction                                                                        1)    Issue of Ordinary shares following exercise of options;

                                                                                                      and 2) Issue of Ordinary shares
 c)  Price(s) and volumes(s)

Price(s)     Volumes(s)
                                                                                                      1) 0p        1,058,640

                                                                                                      2) 0.7385p   31,167,431

 
 d)  Aggregated information                                                                           n/a
 e)  Date of the transactions                                                                         7 February 2025
 f)  Place of the transactions                                                                        Outside a trading venue

 

d)

Aggregated information

n/a

e)

Date of the transactions

7 February 2025

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                                                                                             Fergus Robson
 2   Reason for notification
 a)  Position / status                                                                                Commercial Manager
 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 instrument, type of instrument                                    Ordinary shares in Block Energy plc

     Identification code                                                                              ISIN GB00BF3TBT48
 b)  Nature of the transaction                                                                        1.    Issue of ordinary shares following exercise of options

                                                                                                      2.    Issue of Ordinary shares
 c)  Price(s) and volumes(s)

Price(s)           Volumes(s)
                                                                                                      1)    0p           995,025

                                                                                                                         4,744,577

                                                                                                      2)    0.7385p

 
 d)  Aggregated information                                                                           n/a
 e)  Date of the transactions                                                                         7 February 2025
 f)  Place of the transactions                                                                        Outside a trading venue

 

d)

Aggregated information

n/a

e)

Date of the transactions

7 February 2025

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                                                                                             Guram Maisuradze

 2   Reason for notification
 a)  Position / status                                                                                Chief Operating Officer
 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 instrument, type of instrument                                      Options to acquire ordinary shares 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        4,695,418

 
 d)  Aggregated information                                                                           n/a
 e)  Date of the transaction                                                                          7 February 2025
 f)  Place of the transaction                                                                         Outside a trading venue

 

d)

Aggregated information

n/a

e)

Date of the transaction

7 February 2025

f)

Place of the transaction

Outside a trading venue

 

 

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