Business
ISS Recommends Voting Against Resolution
ISS Recommends Voting Against Resolution.
About this update from Block Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3543J\n Block Energy PLC\n 20 August 2021\n \n \n \n \n 20 August 2021\n \n \n \n \n \n Block Energy plc\n \n \n (\"Block\" or the \"Company\")\n \n \n ISS Recommends Voting Against Resolution\n \n \n Block Energy plc, the development and production company focused on Georgia, is pleased to note the report published today by Institutional Shareholder Services Inc (\"ISS\") recommending the Company's shareholders to vote AGAINST the resolution proposed by Forest Nominees Limited on behalf of GP Jersey at the general meeting to be held on 1 September 2021.\n \n \n Explaining the reason for its recommendation, ISS wrote \"the Dissident has not offered any compelling rationale to commence an investigation\".\n \n \n Based on the independent recommendation by ISS, as well as the various reasons outlined by Block in its Notice of a General Meeting dated 13 August 2021 (\n https://www.blockenergy.co.uk/wp-content/uploads/2021/08/261808-Block-Notice.pdf\n ), the Board recommends shareholders to vote AGAINST the resolution proposed.\n \n \n \n \n \n **ENDS**\n \n \n \n \n \n \n For further information please visit \n \n \n http://www.blockenergy.co.uk/\n \n \n or contact:\n \n \n \n \n \n Paul Haywood\n (Chief Executive Officer)\n \n \n Block Energy plc\n \n \n Tel: +44 (0)20 3468 9891\n \n \n \n \n Neil Baldwin\n (Nominated Adviser)\n \n \n Spark Advisory Partners Limited\n \n \n Tel: +44 (0)20 3368 3554\n \n \n \n \n Peter Krens\n (Corporate Broker)\n \n \n Tennyson Securities\n \n \n Tel: +44 (0)20 7186 9030\n \n \n \n \n \n P\n hilip Dennis\n / M\n ark Antelme\n \n (Financial PR)\n \n \n Celicourt\n \n \n Tel: +44 (0)20 8434 2643\n \n \n \n \n \n \n \n Notes to editors\n \n \n Block Energy plc is an AIM-listed independent oil and gas company focused on production and development in Georgia, applying innovative technology to realise the full potential of previously discovered fields.\n \n \n Block has a 100% working interest in Georgian onshore licence blocks IX and XI\n \n B\n \n . Licence block XI\n \n B\n \n is Georgia's most productive block, with 2P oil and gas reserves of 64 MMboe, which is comprised 2P oil reserves of 36 MMbbls and 2P gas reserves of 28 MMboe (Source: CPR Baypha...