Block Energy plc has allotted an aggregate 35,124,708 ordinary shares each of 0.25p as incentives for staff and to pay service providers.
Following shareholders’ approval in June 2023, the company has allotted 30 million new ordinary shares to the Intertrust Employee Benefit Trustee Ltd as trustee of the company’s employee benefit trust.
Block said the shares issue satisfied current and future grants of share incentives to employees as part of the company’s long-term incentive plan.
A further 5,124,708 new ordinary shares have been issued to various service providers to the company for £68,644 owed.
On admission, Block’s issued share capital will comprise 724,675,812 ordinary shares, each with one voting right. The company holds no shares in treasury.