Business
Loan Facility & Related Party Transactions
Block Energy plc has extended its $2.0 million senior secured loan facility by 18 months to August 2, 2027, on materially the same terms, providing continued balance sheet flexibility for working capital and strategic initiatives. In connection with this extension, lenders will receive 60,386,474 new warrants exercisable at 1.20 pence per ordinary share, with CEO Paul Haywood and former director Fergus Robson receiving warrants as part of related party transactions. Additionally, 4,096,347 ordinary shares have been allotted following the exercise of nil-cost share options, bringing the total issued share capital to 1,015,743,839 ordinary shares. Disclaimer*
About this update from Block Energy Plc
[{"type":"text","content":"\n\n29 January 2026\n \nBlock Energy plc\n(\"Block\" or the \"Company\")\nSecured Loan Facility & Related Party Transactions\n \nBlock Energy plc, the production and development company focused on Georgia, announces an extension to the Term of its existing $2.0 million senior secured loan facility (the \"Loan\" or the \"Loan Facility\").\nLoan Facility:\nThe Loan Facility was originally announced in February 2023 and upsized to $2.0 million in May 2023. The original 18-month Term was extended by a further 18 months in July 2024 to February 2026.\nThe Loan Facility has now been extended for a further 18 months to 2 August 2027 on materially the same terms.\nThe extension provides the Company with continued balance sheet flexibility to support its working capital position as it continues to develop its high-impact strategic initiatives, including Projects III and IV and the CCS project.\nWarrants\nIn connection with the extension, each lender will receive warrants (\"New Warrants\") exercisable at any point up until 2 February 2029.The exercise price of each warrant is 1.20 pence per ordinary share being the closing bid price on 28 January 2026. The number of New Warrants to be issued to each lender shall correspond to an exercise value equal to 50% of their respective loan commitment under the Loan Facility. Accordingly, the total number of New Warrants to be issued pursuant to this extension is 60,386,474.\nThe 44,682,643 warrants issued in connection with the February 2023 and May 2023 first and second tranches of the Loan (with exercise prices of 1.7p and 1.92p per share) will expire on 2 February 2026.\nNo fees or commissions were paid by the Company in connection with the extension of the Loan.\nRelated Party Transactions\nPaul Haywood, Chief Executive Officer, has previously lent $115,000 to the Company under the Loan Facility (as announced February 2023). Fergus Robson, who was until November 2025 a director of various subsidiaries of the Company has previously lent $20,000 under the Loan Facility.\nAs a result of the amended Loan agreement, Paul Haywood will receive 3,472,222 New Warrants and Fergus Robson 603,865 New Warrants.\nThe Independent Directors (being Jeremy Asher and Philip Dimmock), having consulted with SPARK Advisory Partners Limited, the Company's nominated adviser, consider the terms of ...