Block Shield Corporation plc

('Block Shield' or 'the Group')

Progress Update

As previously stated in the circular sent to shareholders on 8 April 2009, Block Shield reports that Mu-Gahat Enterprises LLC ('Mu-Gahat Enterprises'), the Group's Native American licensee for RFID gaming technology, was contracted to complete certain in the field beta testing of its gaming product on behalf of Essential Gaming, Inc. ('Essential Gaming'). Whilst this testing has now been completed and has yielded very positive results, Mu-Gahat Enterprises and Essential Gaming have been unable to agree on the scope and terms of certain additional work which Essential Gaming are requiring to be undertaken to permit the conditions precedent to this contract to be completed to their satisfaction. Accordingly, discussion on this contact has now been suspended.

Both the Group and Mu-Gahat Enterprises remain in active discussions for a beta test site with a Native American casino as well as other commercial gaming partners. 

Furthermore, in accordance with the Group's previously announced intentions to reduce its cash burn and concentration on gaming, the Company is in discussions to sub-contract its Rfidium inlay operations to a third party. 


Block Shield announced on 8 April 2009 that it intended to seek shareholder approval for the cancellation of admission to trading on AIM of its ordinary shares ('the De-Listing'). The General Meeting is being convened at 11.00 a.m. on 24 April 2009 and will be held at the offices of Lawrence Graham LLP at 4 More London Riverside, SE1 2AU at which a resolution will be proposed to approve the De-Listing. If the Resolution is passed at the General Meeting, the last day of trading of the Company's ordinary shares will be 11 May 2009 and the De-Listing will be effective from 7.00 a.m. on 12 May 2009.

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