Block Energy PLC - London-based oil and gas company focused in Georgia - Chief Financial Officer William McAvock will resign with effect on September 30, as part of the company's aim to make the position redundant in order to improve efficiency.
McAvock's responsibilities will be transferred to the CEO, Block's finance and commercial teams, and existing external advisors.
McAvock has been part of the company for three years since 2019.
"On behalf of the board, I would like to thank William for his strong contribution to positioning the company for further growth and value creation. The board and I wish him well in his future endeavours," says Chair Philip Dimmock.
Current stock price: 1.90 pence
12-month change: down 30%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Block Energy P. (BLOE)