Issue of Options and Shares & PDMR Dealing

Source: www.gulfoilandgas.com 3/2/2021, Location: Asia

Block Energy plc, the development and production company focused on Georgia, announces that, on 1 March 2021, it issued nil-cost options over a total of 1,122,808 ordinary shares of 0.25p each ("Options") to directors/PDMRs and employees. The Options were issued in lieu of payment of cash for 40% of salaries and up to 50% of directors' fees for the month of February 2021, in accordance with the cash conservation measures announced on 7 April 2020 and subsequent agreements with the two new non-executive directors in December 2020 and with new employees in January 2021 for 50% of salaries to be paid in nil-cost options in lieu of cash payment. The number of shares were 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 month of February 2021.

Also on 1 March 2021, under its Long-Term Incentive Plan, the Company issued options over a total of 20,500,000 ordinary shares of 0.25p each ("LTIP Options") to directors/PDMRs, employees and consultants. The LTIP Options have an expiry date ten years from the date of grant, and vest by one-third on each of the first, second and third anniversaries of the date of grant, and an exercise price of 4p per share, which represents a premium of 31% over the 3.05p closing price of the ordinary shares on the trading day preceding the date of issue. The LTIP Options awarded to the two directors have additional performance conditions that must be achieved for each of the three annual tranches to vest.


Canada >>  6/27/2022 - Imperial Oil Limited (IMO) announced that it has received final acceptance from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB)...
China >>  6/27/2022 - Ncondezi Energy Limited ("Ncondezi") (NCCL) is pleased to announce its audited final results for the year ended 31 December 2021.

...


France >>  6/27/2022 - As part of its remuneration policy, Bureau Veritas grants options to subscribe or to purchase shares (“Options”) and Performance shares (“Shares”) to ...
Greece >>  6/27/2022 - Seanergy Maritime Holdings Corp. announced that the application of United Maritime Corporation (“United”) to list its common shares on the Nasdaq Capi...

Nigeria >>  6/27/2022 - LEKOIL, the Cayman Islands litigation asset company with an investment in oil & gas assets in Nigeria, provides the following update in respect of the...
Tanzania >>  6/27/2022 - Wentworth Resources, the independent, Tanzania-focused natural gas production company is pleased to make the following announcement.

The ...





Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.