TIDMQFI
RNS Number : 0944O
Quadrise Fuels International PLC
30 September 2019
NEITHER THIS ANNOUNCEMENT NOR ANY PART OF IT CONSTITUTES AN
OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY,
SUBSCRIBE OR ACQUIRE ANY SECURITIES IN ANY JURISDICTION IN WHICH
ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL AND THE
INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND, SOUTH AFRICA OR
ANY JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL.
The information communicated within this announcement WAS deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014 PRIOR TO ITS PUBLICATION. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
30 September 2019
Quadrise Fuels International plc
("Quadrise", "QFI", the "Company" and together with its
subsidiaries the "Group")
Result of Open Offer
Quadrise Fuels International plc (AIM: QFI) announces the
results of its Open Offer. The Open Offer to Qualifying
Shareholders to raise approximately GBP1.8 million was announced by
the Company on 9 September 2019 and closed for acceptances, in
accordance with its terms, at 11.00 a.m. on 27 September 2019.
The Company announces that it has received valid acceptances and
excess applications from Qualifying Shareholders for a total of
34,809,165 Open Offer Shares under the Open Offer, representing a
74.8% take-up. With the Open Offer underwritten by Peel Hunt, Peel
Hunt has subscribed, as principal, for 11,745,874Open Offer
Shares.
As a result, a total of 46,555,039 Open Offer Shares and
23,277,519 Open Offer Warrants will be issued in connection with
the Open Offer.
All valid applications for Qualifying Shareholders' Open Offer
Entitlements and Excess Share applications have been fulfilled in
full.
Mike Kirk, Executive Chairman of Quadrise, said:
"We are delighted to have received a very enthusiastic response
from Quadrise's existing shareholders to the Open Offer. Having
raised gross proceeds of GBP1.8 million from the Open Offer, in
addition to funds raised pursuant to the Subscription and the
Funding announced on 23 August 2019, Quadrise is now funded to
build, in the medium-term, on the substantial progress made in
business development activities during 2019."
Director Participation
The Company confirms, as indicated in the circular dated 6
September 2019, that both of the Quadrise executive directors and
two of Quadrise's non-executive directors participated in the Open
Offer, in respect of an aggregate of 610,587 Open Offer Shares - in
the amounts set out below.
Director Number % of ordinary Open Number of % of ordinary Open
of ordinary share Offer ordinary share capital Offer
shares capital Shares shares held following Warrants
held prior prior following the Open
to the to the issue of Offer
Open Offer Open Offer the Open
Offer Shares
Mike Kirk 605,292(1) 0.07% 179,031 784,323(1) 0.08% 89,515
------------- -------------- -------- -------------- --------------- ----------
Jason Miles 3,580,633(2) 0.38% 179,031 3,759,664(3) 0.38% 89,515
------------- -------------- -------- -------------- --------------- ----------
Laurie Mutch 365,000 0.04% 126,263 491,263 0.05% 63,131
------------- -------------- -------- -------------- --------------- ----------
Philip Snaith 350,000 0.04% 126,262 476,262 0.05% 63,131
------------- -------------- -------- -------------- --------------- ----------
(1) held jointly with Mike Kirk's wife.
(2) including 1,473,542 ordinary shares held by Jason Miles' wife.
(3) Including 1,547,219 ordinary shares held by Jason Miles' wife.
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
details.
Admission to Trading on AIM and Total Voting Rights
Application has been made for the Open Offer Shares, which will
rank pari passu with the Company's issued ordinary shares, to be
admitted to trading on AIM. It is expected that Admission will
become effective and that dealings in the Open Offer Shares will
commence at 8.00 a.m. on 1 October 2019.
On Admission, the Company will have 995,756,506 Ordinary Shares
in issue. No Ordinary Shares are held in treasury. The figure of
995,756,506 Ordinary Shares may be used by the Company's
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
Capitalised terms used but not otherwise defined in this
announcement bear the same meanings ascribed to them in the
circular of the Company dated 9 September 2019.
For further information, please refer to the Company's website
at www.quadrisefuels.com, or contact ir@quadrisefuels.com or:
Quadrise Fuels International Plc
Mike Kirk, Executive Chairman +44 (0)20 7031 7321
Jason Miles, Chief Operating Officer
Nominated Adviser
Cenkos Securities plc
Dr Azhic Basirov +44 (0)20 7397 8900
Ben Jeynes
Katy Birkin
Joint Broker
Peel Hunt LLP
Richard Crichton +44 (0)20 7418 8900
Ross Allister
Joint Broker
Shore Capital Stockbrokers Limited +44 (0)20 7601 6108
Andy Crossley
Daniel Harris
Public & Investor Relations
FTI Consulting
Ben Brewerton +44 (0)20 3727 1000
Ntobeko Chidavaenzi
NOTIFICATIONS AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr. Michael Kirk
--------------------------------------- --------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/status PDMR (Director)
--------------------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Quadrise Fuels International plc
--------------------------------------- --------------------------------------
b) LEI GB00B11DDB67
--------------------------------------- --------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------------
a) Description of the Ordinary shares of 1 pence each
financial instrument,
type of instrument
Identification code GB00BF0YPG76
b) Nature of the transaction Subscription under an open offer
to existing shareholders
--------------------------------------- --------------------------------------
c) Price(s) and volume(s)
---------------- -----------------
Price(s) Volume(s)
---------------- -----------------
3.96p 179,031
---------------- -----------------
d) Aggregated information n/a - single transaction
- Aggregated volume
- Price
e) Date of the transaction 27 September 2019
--------------------------------------- --------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr. Jason Miles
--------------------------------------- --------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/status PDMR (Director)
--------------------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Quadrise Fuels International plc
--------------------------------------- --------------------------------------
b) LEI GB00B11DDB67
--------------------------------------- --------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------------
a) Description of the Ordinary shares of 1 pence each
financial instrument,
type of instrument
Identification code GB00BF0YPG76
b) Nature of the transaction Subscription under an open offer
to existing shareholders
--------------------------------------- --------------------------------------
c) Price(s) and volume(s)
---------------- -----------------
Price(s) Volume(s)
---------------- -----------------
3.96p 105,354
---------------- -----------------
d) Aggregated information n/a - single transaction
- Aggregated volume
- Price
e) Date of the transaction 27 September 2019
--------------------------------------- --------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mrs. Rachel Miles
--------------------------------------- ----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------------
a) Position/status Notification regards a person closely
associated with Jason Miles, a director
of the Company. Mrs. Rachel Miles
is Mr. Jason Miles' spouse.
--------------------------------------- ----------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------------
a) Name Quadrise Fuels International plc
--------------------------------------- ----------------------------------------------
b) LEI GB00B11DDB67
--------------------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------------------------
a) Description of the Ordinary shares of 1 pence each
financial instrument,
type of instrument
Identification code GB00BF0YPG76
b) Nature of the transaction Subscription under an open offer
to existing shareholders
--------------------------------------- ----------------------------------------------
c) Price(s) and volume(s)
-------------------- ---------------------
Price(s) Volume(s)
-------------------- ---------------------
3.96p 73,677
-------------------- ---------------------
d) Aggregated information n/a - single transaction
- Aggregated volume
- Price
e) Date of the transaction 27 September 2019
--------------------------------------- ----------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr. Philip Snaith
--------------------------------------- --------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/status PDMR (Director)
--------------------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Quadrise Fuels International plc
--------------------------------------- --------------------------------------
b) LEI GB00B11DDB67
--------------------------------------- --------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------------
a) Description of the Ordinary shares of 1 pence each
financial instrument,
type of instrument
Identification code GB00BF0YPG76
b) Nature of the transaction Subscription under an open offer
to existing shareholders
--------------------------------------- --------------------------------------
c) Price(s) and volume(s)
---------------- -----------------
Price(s) Volume(s)
---------------- -----------------
3.96p 126,262
---------------- -----------------
d) Aggregated information n/a - single transaction
- Aggregated volume
- Price
e) Date of the transaction 27 September 2019
--------------------------------------- --------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr. Laurence Mutch
--------------------------------------- --------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/status PDMR (Director)
--------------------------------------- --------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name Quadrise Fuels International plc
--------------------------------------- --------------------------------------
b) LEI GB00B11DDB67
--------------------------------------- --------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------------
a) Description of the Ordinary shares of 1 pence each
financial instrument,
type of instrument
Identification code GB00BF0YPG76
b) Nature of the transaction Subscription under an open offer
to existing shareholders
--------------------------------------- --------------------------------------
c) Price(s) and volume(s)
---------------- -----------------
Price(s) Volume(s)
---------------- -----------------
3.96p 126,263
---------------- -----------------
d) Aggregated information n/a - single transaction
- Aggregated volume
- Price
e) Date of the transaction 27 September 2019
--------------------------------------- --------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- --------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr. Michael Kirk
--------------------------------------- ---------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------
a) Position/status PDMR (Director)
--------------------------------------- ---------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Quadrise Fuels International plc
--------------------------------------- ---------------------------------------------
b) LEI GB00B11DDB67
--------------------------------------- ---------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------------------
a) Description of the Warrants to subscribe for new Ordinary
financial instrument, shares of 1 pence each at a price
type of instrument of 7.48p
Identification code GB00BH4GHM31
b) Nature of the transaction Warrants attached to open offer shares
--------------------------------------- ---------------------------------------------
c) Price(s) and volume(s)
-------------------- --------------------
Price(s) Volume(s)
-------------------- --------------------
nil 89,515
----------------------------------------------------------------- --------------------
d) Aggregated information n/a - single transaction
- Aggregated volume
- Price
e) Date of the transaction 27 September 2019
--------------------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr. Jason Miles
--------------------------------------- ---------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------
a) Position/status PDMR (Director)
--------------------------------------- ---------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Quadrise Fuels International plc
--------------------------------------- ---------------------------------------------
b) LEI GB00B11DDB67
--------------------------------------- ---------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------------------
a) Description of the Warrants to subscribe for new Ordinary
financial instrument, shares of 1 pence each at a price
type of instrument of 7.48p
Identification code GB00BH4GHM31
b) Nature of the transaction Warrants attached to open offer shares
--------------------------------------- ---------------------------------------------
c) Price(s) and volume(s)
-------------------- --------------------
Price(s) Volume(s)
-------------------- --------------------
nil 52,677
----------------------------------------------------------------- --------------------
d) Aggregated information n/a - single transaction
- Aggregated volume
- Price
e) Date of the transaction 27 September 2019
--------------------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mrs. Rachel Miles
--------------------------------------- -----------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------
a) Position/status Notification regards a person closely
associated with Jason Miles, a director
of the Company. Mrs. Rachel Miles
is Mr. Jason Miles' spouse.
--------------------------------------- -----------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------
a) Name Quadrise Fuels International plc
--------------------------------------- -----------------------------------------------
b) LEI GB00B11DDB67
--------------------------------------- -----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------------------------------
a) Description of the Warrants to subscribe for new Ordinary
financial instrument, shares of 1 pence each at a price
type of instrument of 7.48p
Identification code GB00BH4GHM31
b) Nature of the transaction Warrants attached to open offer shares
--------------------------------------- -----------------------------------------------
c) Price(s) and volume(s)
--------------------- ---------------------
Price(s) Volume(s)
--------------------- ---------------------
nil 36,838
------------------------------------------------------------------ ---------------------
d) Aggregated information n/a - single transaction
- Aggregated volume
- Price
e) Date of the transaction 27 September 2019
--------------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- -----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr. Philip Snaith
--------------------------------------- ---------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------
a) Position/status PDMR (Director)
--------------------------------------- ---------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Quadrise Fuels International plc
--------------------------------------- ---------------------------------------------
b) LEI GB00B11DDB67
--------------------------------------- ---------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------------------
a) Description of the Warrants to subscribe for new Ordinary
financial instrument, shares of 1 pence each at a price
type of instrument of 7.48p
Identification code GB00BH4GHM31
b) Nature of the transaction Warrants attached to open offer shares
--------------------------------------- ---------------------------------------------
c) Price(s) and volume(s)
-------------------- --------------------
Price(s) Volume(s)
-------------------- --------------------
nil 63,131
----------------------------------------------------------------- --------------------
d) Aggregated information n/a - single transaction
- Aggregated volume
- Price
e) Date of the transaction 27 September 2019
--------------------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mr. Laurence Mutch
--------------------------------------- ---------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------
a) Position/status PDMR (Director)
--------------------------------------- ---------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Quadrise Fuels International plc
--------------------------------------- ---------------------------------------------
b) LEI GB00B11DDB67
--------------------------------------- ---------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------------------
a) Description of the Warrants to subscribe for new Ordinary
financial instrument, shares of 1 pence each at a price
type of instrument of 7.48p
Identification code GB00BH4GHM31
b) Nature of the transaction Warrants attached to open offer shares
--------------------------------------- ---------------------------------------------
c) Price(s) and volume(s)
-------------------- --------------------
Price(s) Volume(s)
-------------------- --------------------
nil 63,131
----------------------------------------------------------------- --------------------
d) Aggregated information n/a - single transaction
- Aggregated volume
- Price
e) Date of the transaction 27 September 2019
--------------------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- ---------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCLMMATMBAJMTL
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September 30, 2019 02:18 ET (06:18 GMT)
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