Quadrise Fuels International PLC Issue of Share Options (8853W)
August 24 2020 - 2:00AM
UK Regulatory
TIDMQFI
RNS Number : 8853W
Quadrise Fuels International PLC
24 August 2020
24 August 2020
Quadrise Fuels International plc
("Quadrise", "QFI" or "the Company")
Issue of Share Options
Quadrise announces that on 21 August 2020 it granted a total of
10,000,000 options (the "Options") over new ordinary shares of 1p
each in the Company ("Ordinary Shares") to directors of the Company
in accordance with the provisions of (a) the Company's Enterprise
Management Incentive Plan ("EMI Plan"), in respect of awards of an
aggregate of 4,261,756 Options (the "EMI Options") and (b) the
Company's Unapproved Option Scheme 2016 ("2016 Scheme") in respect
of awards of an aggregate of 5,738,244 Options ("2016 Scheme
Options").
Following the grant of Options to the directors in the amounts
shown below, the Company has a total of 49,250,000 Ordinary Shares
under option, representing approximately 4.7% of the Company's
current issued ordinary share capital. In addition, the Company has
a further 45,228,026 Ordinary Shares under warrant, representing
4.3% of the Company's current issued ordinary share capital.
Director Number of Options Plan Exercise price
EMI Plan (1,261,756
Options)
2016 Scheme (738,244
Mike Kirk 2,000,000 Options) 7.5p
------------------ ----------------------- ---------------
Jason Miles 5,000,000 2016 Scheme 7.5p
------------------ ----------------------- ---------------
Mark Whittle 3,000,000 EMI Plan 7.5p
------------------ ----------------------- ---------------
Total 10,000,000 - -
------------------ ----------------------- ---------------
The EMI Options and the 2016 Scheme Options will vest as to 50%
on the first anniversary of the grant and the remaining 50% shall
vest on the second anniversary of the date of grant. All vestings
are subject to the satisfaction of certain performance conditions
prior to the vesting date. The 2016 Scheme Options and the EMI
Options will be exercisable from vesting until the eighth and tenth
anniversaries of grant respectively.
The notifications below, made in accordance with the
requirements of the Market Abuse Regulation, provide further
details.
For further information, please refer to the Company's website
at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc
Mike Kirk, Chairman +44 (0)20 7031 7321
Jason Miles, Chief Executive Officer
Nominated Adviser
Cenkos Securities plc
Ben Jeynes +44 (0)20 7397 8900
Katy Birkin
Joint Brokers
Peel Hunt LLP
Richard Crichton +44 (0)20 7418 8900
David McKeown
Shore Capital Stockbrokers Limited
Toby Gibbs +44 (0)20 7408 4090
Fiona Conroy
Public & Investor Relations
Ben Brewerton +44 (0)20 3727 1000
Ntobeko Chidavaenzi
Notes to Editors
QFI is the supplier of MSAR(R) emulsion technology and fuels, a
low-cost alternative to heavy fuel oil (one of the world's largest
fuel markets, comprising over 450 million tons per annum) in the
global shipping, refining and steam and power generation
industries.
NOTIFICATIONS AND PUBLIC DISCLOSURES 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 Michael Peter Kirk
--------------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position/status Chairman
--------------------------------------- --------------------------------------------
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 213800HN2ETG5476U328
--------------------------------------- --------------------------------------------
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 ISIN: GB00B11DDB67
--------------------------------------- --------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of 1 pence each
--------------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------- -------------------
Price(s) Volume(s)
-------------------- -------------------
GBP0.00 2,000,000
----------------------------------------------------------------- -------------------
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price N/A - single transaction
--------------------------------------- -------------------------------------------------
e) Date of the transaction 21 August 2020
--------------------------------------- --------------------------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jason Victor Miles
--------------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------------- --------------------------------------------
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 213800HN2ETG5476U328
--------------------------------------- --------------------------------------------
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 ISIN: GB00B11DDB67
--------------------------------------- --------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of 1 pence each
--------------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------- -------------------
Price(s) Volume(s)
-------------------- -------------------
GBP0.00 5,000,000
----------------------------------------------------------------- -------------------
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price N/A - single transaction
--------------------------------------- -------------------------------------------------
e) Date of the transaction 21 August 2020
--------------------------------------- --------------------------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Whittle
--------------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer
--------------------------------------- --------------------------------------------
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 213800HN2ETG5476U328
--------------------------------------- --------------------------------------------
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 ISIN: GB00B11DDB67
--------------------------------------- --------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of 1 pence each
--------------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------- -------------------
Price(s) Volume(s)
-------------------- -------------------
GBP0.00 3,000,000
----------------------------------------------------------------- -------------------
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price N/A - single transaction
--------------------------------------- -------------------------------------------------
e) Date of the transaction 21 August 2020
--------------------------------------- --------------------------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------------- --------------------------------------------
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END
MSCKKDBDFBKDQFB
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