Quadrise Fuels International PLC Directorate Changes (8025Z)
January 15 2020 - 2:00AM
UK Regulatory
TIDMQFI
RNS Number : 8025Z
Quadrise Fuels International PLC
15 January 2020
15 January 2020
Quadrise Fuels International plc
("Quadrise", "QFI", the "Company" and together with its
subsidiaries the "Group")
Directorate Changes
The Board of Quadrise Fuels International plc (AIM: QFI) is
pleased to announce the planned enhancement of the Company's senior
management team, to position the Company as it transitions towards
material project delivery and commercialisation during 2020.
Effective 1 February 2020, Jason Miles (Chief Operating Officer
since 2014) is appointed to the position of Chief Executive
Officer. Mark Whittle (currently Head of Projects) succeeds Jason
as Chief Operating Officer and becomes a director of the Company.
Mike Kirk continues as the Company's Chairman.
Mike joined Quadrise in December 2015 and became Executive
Chairman in April 2016. Since then, Mike and Jason have worked
closely together to develop Quadrise and implement a strategy to
both broaden and deepen the range of opportunities that Quadrise is
pursuing. This new strategy has delivered promising results,
evidenced by the number and range of new relationships announced by
the Company over the past year.
The successful fundraising programme completed in 2019 provides
Quadrise with funds through to 31 December 2020, and therefore the
ability to convert the opportunities developed by the new strategy
into substantive commercial ventures throughout 2020.
This progress provides a firm foundation for the Company's
future growth making it the right time to enhance the executive
team at Quadrise through the changes announced today. Mike will
continue to be actively involved with supporting Jason, Mark and
the management team on corporate matters and business development
initiatives.
Mark David Whittle, aged 47, has held the position of Head of
Projects since 2018, having joined the Company in 2015 as General
Manager - Refining. Prior to this Mark, a Chemical Engineer, had
over 20 years' experience in oil refining and related business
activities for Esso, Criterion, Louis Dreyfus and ConocoPhillips.
Mark does not currently hold, and has not held in the last five
years, any directorships and/or partnerships nor does he hold any
ordinary shares in the Company. There are no further disclosures to
be made pursuant to Schedule 2 paragraph (g) of the AIM Rules.
Mike Kirk, Executive Chairman of QFI, said:
"At the recent AGM we provided shareholders with an update which
demonstrated the success of our strategy to broaden and deepen our
business development pipeline. Along with the secured funding now
in place we have a firm foundation for growth and the Board took
the view that this was the right time to further develop the senior
management team through the promotion of Jason to CEO and Mark to
COO.
I have worked closely with Jason since joining Quadrise and
during the last two years have also worked increasingly closely
with Mark, both of whom have been integral to the recent business
development initiatives which culminated in the recently announced
trial in Morocco.
"I congratulate Jason and Mark on their new roles and look
forward to working closely with them at an extremely exciting time
for Quadrise.".
For additional information, please contact:
Quadrise Fuels International plc +44 (0)20 7031 7321
Mike Kirk, Executive Chairman
Jason Miles, Chief Operating Officer
Cenkos Securities plc +44 (0)20 7397 8900
Nominated Adviser
Dr Azhic Basirov
Ben Jeynes
Katy Birkin
Peel Hunt LLP +44 (0)20 7418 8900
Joint Broker
Richard Crichton
David McKeown
Shore Capital Stockbrokers Limited +44 (0)20 7408 4090
Joint Broker
Toby Gibbs
Fiona Conroy
FTI Consulting +44 (0)20 3727 1000
Public and Investor Relations
Ben Brewerton
Ntobeko Chidavaenzi
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 the release of this
announcement. Upon the publication of this announcement, this
inside information is now considered to be in the public
domain.
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END
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