Block Energy plc said it had issued nil-cost options over a total of 1,767,513 ordinary shares of 0.25p each to directors/PDMRs and employees as part of cash conservation measures.
CASH CONSERVATION
The options were issued on 1 November in lieu of cash payment for 40% of salaries and up to 50% of directors’ fees for the month of October 2021.
The move is in accordance with the company’s cash conservation measures announced in April 2020.
| PDMR | Position | Number of Options granted | Resulting total options held over ordinary shares |
| Paul Haywood | Chief Executive Officer | 356,522 | 15,803,227 |
| William McAvock | Chief Financial Officer | 254,658 | 9,760,320 |
| Philip Dimmock | Non-Executive Chairman | 101,863 | 584,797 |
| Charles Valceschini | Non-Executive Director | 69,452 | 500,021 |
| Jeremy Asher | Non-Executive Director | 69,452 | 146,453 |
| Kenneth Seymour | Non-Executive Director | 69,452 | 107,803 |
The company also allotted 262,403 ordinary shares of 0.25p each to two service providers in lieu of cash with a total value of £5,533.