Business
Issue of Options and Shares and PDMR Dealing
Issue of Options and Shares and PDMR Dealing.
About this update from Block Energy Plc
[{"type":"text","content":"\n \n \n \n 7 March 2023\n \n \n \n \n Block Energy plc\n \n \n \n (\"Block\" or the \"Company\")\n \n \n \n Issue of Options and Shares and PDMR Dealing\n \n \n \n Block Energy plc, the development and production company focused on Georgia, announces that it has issued nil-cost options and shares.\n \n \n On 7 March 2023, the Company granted nil-cost options over a total of 4,854,871 ordinary shares of 0.25p each (\"Options\") to directors and employees. The Options were granted in lieu of cash payment for 40% of salaries and up to 50% of directors' fees and for bonuses, in accordance with the cash conservation measures announced on 7 April 2020 and subsequent agreements with the employees and non-executive directors for fees to be paid in nil-cost options in lieu of cash payment. The number of shares was calculated by dividing the amount of monthly salary or fee to be paid in Options by the volume weighted average price of the ordinary shares during the calendar month that the services were provided.\n \n \n Also, pursuant to agreements to exercise options immediately upon grant, on 7 March 2023:\n \n \n 1. Philip Dimmock, Non-Executive Chairman, exercised nil cost options to acquire 163,698 ordinary shares of 0.25 pence each; and\n \n \n 2. Jeremy Asher, Non-Executive Director, exercised nil cost options to acquire 114,450 ordinary shares of 0.25 pence each.\n \n \n Of the total number of Options granted, 899,158 Options were granted to PDMRs, as shown in the table below.\n \n \n \n \n \n \n \n PDMR\n \n \n \n \n \n \n Position\n \n \n \n \n \n \n Number of Options granted\n \n \n \n \n \n \n Number of Options exercised\n \n \n \n \n \n \n Resulting total options held over ordinary shares\n \n \n \n \n \n \n Resulting total ordinary shares following exercise\n \n \n \n \n \n \n Resulting total ordinary shares following exercise\n \n \n \n \n \n \n \n Paul Haywood\n \n \n \n \n Chief Executive Officer\n \n \n \n \n 611,010\n \n \n \n \n 0 \n \n \n \n \n 61,249,875\n \n \n \n \n 12,544,381\n \n \n \n \n 1.82%\n \n \n \n \n \n \n Philip Dimmock\n \n \n \n \n Non-Executive Chairman\n \n \n \n \n 163,698\n \n \n \n \n 163,698\n \n \n \n \n 928,612\n \n \n \n \n 3,258,072\n \n \n \n \n 0.47%\n \n \n \n \n \n \n Jeremy Asher\n \n \n \n \n Non-Executive Director\n \n \n \n \n 114,450\n \n \n \n \n 114,450\n \n \n \n ...