REG - Block Energy PLC - Exercise of Options and Issue of Shares

Block EnergyAnnouncement

22/05/2025 07:02

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RNS Number : 6775J  Block Energy PLC  22 May 2025

22 May 2025

Block Energy plc

("Block" or the "Company")

Exercise of Options and Issue of Shares

Block Energy plc, the development and production company focused on Georgia,
announces that, today, the Company allotted 3,345,398 ordinary shares of 0.25p
each ("Ordinary Shares") to a former employee, following the exercise on 20
May 2025 of nil cost options that had been granted as part of the salary
sacrifice scheme put in place between April 2020 and April 2023.

Application will be made for the admission to trading on AIM ("Admission") for
the 3,345,398 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 27 May 2025.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise
772,653,343 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 772,653,343 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.

 

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