Business
Exercise of Options / PDMR Dealing
Exercise of Options / PDMR Dealing.
About this update from Block Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5790O\n Block Energy PLC\n 11 October 2021\n \n \n \n \n 11 October 2021\n \n \n \n \n \n Block Energy plc\n \n \n (\"Block\" or the \"Company\")\n \n \n Exercise of Options / PDMR Dealing\n \n \n Block Energy Plc, the exploration and production company focused on Georgia, announces that, on 8 October 2021, a former director exercised nil-cost options to acquire 299,412 ordinary shares of 0.25 pence each and, on 10 October 2021, William McAvock, Chief Financial Officer and Director, exercised nil cost options to acquire 699,801 ordinary shares of 0.25 pence each.\n \n \n The nil cost options had been granted as a result of the Company's salary and fees sacrifice scheme that was announced on 7 April 2020 and a subsequent agreement, whereby employees and directors agreed to receive up to 50 per cent of salaries and directors' fees in nil-cost options in lieu of cash.\n \n \n 699,801 of the shares held in the Block Energy plc Employee Benefit Trust (\"EBT\") will be used to satisfy the exercise by William McAvock. Following this exercise, the remaining number of shares held by the EBT will be 48,114,439, representing 7.38 per cent of the current total issued share capital. \n \n \n \n \n \n Application will be made for the admission to trading on AIM (\"Admission\") for the \n 299,412 \n 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 14 October 2021.\n \n \n \n \n \n Total Voting Rights\n \n \n \n \n \n Following Admission, the Company's issued share capital will comprise 651,964,633 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 651,964,633 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.\n \n \n \n \n \n **ENDS**\n \n \n 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 ...