Quadrise Fuels International PLC Director/PDMR Shareholding (9865D)
July 12 2016 - 11:24AM
UK Regulatory
TIDMQFI
RNS Number : 9865D
Quadrise Fuels International PLC
12 July 2016
12 July 2016
Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
Director/PDMR Shareholding
Quadrise Fuels International plc (AIM: QFI) is the emerging
manufacturer and supplier of MSAR(R) emulsion fuels, a low cost
alternative to heavy fuel oil (one of the world's largest fuel
markets, with volumes of over 450 million tons per annum) in the
global shipping, refining and steam and power generation
markets.
The Company has been notified that Jason Miles, a director of
the Company, has today accepted an offer from International Energy
Group AG ("IEG") to acquire options awarded to him by IEG over
5,000,000 existing QFI ordinary shares held by IEG ("IEG Options").
Jason Miles' IEG Options have an exercise price of 1 penny per
ordinary share. The consideration paid to Mr. Miles was 11.5 pence
per IEG Option.
This transaction forms part of the liquidation process of IEG,
as previously notified to the market on 11 September 2014.
Following the disposal of these IEG Options, Mr. Miles' interest
in 2,880,633 ordinary shares, representing 0.36% of the Company's
issued ordinary share capital, remains unchanged.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provide further detail.
NOTIFICATION 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 Jason Miles
---- ---------------------------------------- ----------------------------------
2 Reason for the notification
---- ----------------------------------------------------------------------------
a) Position/status PDMR (Chief Operating Officer)
---- ---------------------------------------- ----------------------------------
b) Initial notification/Amendment Initial Notification
---- ---------------------------------------- ----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ----------------------------------------------------------------------------
a) Name Quadrise Fuels International
plc
---- ---------------------------------------- ----------------------------------
b) LEI -
---- ---------------------------------------- ----------------------------------
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 financial Options over ordinary shares
instrument, type of instrument
---- ---------------------------------------- ----------------------------------
Identification code GB00B11DDB67
---- ---------------------------------------- ----------------------------------
b) Nature of the transaction Disposal of options
---- ---------------------------------------- ----------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---- ---------------------------------------- ---------------- ----------------
GBP0.115 5,000,000
-------------------------------------------------------------- ----------------
d) Aggregated information
---- ----------------------------------------------------------------------------
Aggregated volume N/A - single transaction
---------------------------------------- ---------------------------------------
Price N/A - single transaction
---------------------------------------- ---------------------------------------
e) Date of the transaction 12 July 2016
---- ---------------------------------------- ----------------------------------
f) Place of the transaction Outside of a trading venue
---- ---------------------------------------- ----------------------------------
For additional information, please contact:
Quadrise Fuels International plc +44 (0)20 7031 7321
Mike Kirk, Executive Chairman
Hemant Thanawala, Finance Director
Jason Miles, Chief Operating Officer
Smith & Williamson Corporate Finance Limited +44 (0)20 7131 4000
Dr Azhic Basirov
Ben Jeynes
Peel Hunt LLP +44 (0)20 7418 8900
Richard Crichton
Ross Allister
Chris Burrows
Bell Pottinger +44 (0)20 3772 2500
Daniel Thöle
This information is provided by RNS
The company news service from the London Stock Exchange
END
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