Issue of Warrants

RNS Number : 0318C

Block Energy PLC

13 June 2019

 

Defined terms used but not defined in this announcement have the meanings set out in the 'Proposed Placing to Raise up to GBP 12 million' Regulatory News Announcement released on 15 May 2019.

Block Energy Plc
("Block Energy" or the "Company")

13 June 2019

Issue of Warrants

Following the announcement made on 15 May 2019 in connection with the £12 million fundraise by way of a placing (the "Placing"), the Company has today issued Broker Warrants, giving the brokers involved in the Placing the right to subscribe, in aggregate, for 6,011,308 ordinary shares of 0.025p ("Ordinary Shares") at the Placing Price.

The total number of Broker Warrants issued is 556,808 higher than the initial estimate announced on 15 May 2019, owing to warrants being granted to the Company's previous brokers Baden Hill and Novum Securities and placing agent Gneiss Energy Limited, in addition to the Company's current brokers Mirabaud Securities Limited. The Company's previous brokers and agents introduced certain investors at IPO who also participated in the most recent placing.

Total Voting Rights

The Company's issued share capital currently comprises 388,413,993 Ordinary Shares which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.  The Company does not hold any shares in treasury. 

In addition, following this issue of warrants, there are 10,221,510 warrants in issue. Further details are available on the Company's website : www.blockenergy.co,uk

For more information, contact:

Paul Haywood (Chief Executive Officer)	Block Energy Plc	Tel: [phone]
Neil Baldwin (Nominated Adviser)	Spark Advisory Partners Limited	Tel: [phone]
Peter Krens (Broker)	Mirabaud Securities Limited	Tel: [phone]
Frank Buhagiar/Juliet Earl (Financial PR)	St Brides Partners Ltd	Tel: [phone]

NOTES TO EDITORS

About Block Energy

Block Energy (BLOE.L) is an AIM quoted oil and gas company with a growing portfolio of production, development and exploration assets in the Republic of Georgia. Block holds a 100% WI in the producing Norio licence, a 90% WI in the producing Satskhenisi licence and a 71.5% WI in the West Rustavi licence, with an agreement to take a 100% WI.

For more information see www.blockenergy.co.uk

 

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