Quadrise Fuels International PLC Issue of Options and Director's Dealing (9724T)
April 01 2016 - 12:11PM
UK Regulatory
TIDMQFI
RNS Number : 9724T
Quadrise Fuels International PLC
01 April 2016
1 April 2016
Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
Issue of Options and Director's Dealing
Quadrise Fuels International plc (AIM: QFI) is the emerging
manufacturer and supplier of MSAR emulsion fuels, a low cost
alternative to heavy fuel oil (one of the world's largest fuel
markets, consuming over 450 million tons per annum) in the global
shipping, refining and steam and power generation markets.
Mike Kirk, Executive Chairman, was today granted 3,000,000
options to subscribe for new Ordinary shares of 1p each in the
Company ("Ordinary Shares") in accordance with the provisions of
the Company's Share Option Scheme (the "Options") and his Executive
Director's Service Agreement.
Following the grant of the Options, the Company has a total of
34,450,000 Ordinary Shares under option representing approximately
4.26 per cent of the Company's issued ordinary share capital.
Under the rules of the Company's Share Option Scheme, the
Options are exercisable at a price of 12.5 pence per Ordinary
Share, being the highest of: a) the nominal value of the Ordinary
Shares; b) 11.86 pence per Ordinary Share, being the average of the
closing mid-market price per Ordinary Share for the 30 dealing days
immediately preceding the date of the grant; and c) 12.5 pence,
being the closing mid-market price per Ordinary Share on 1 April
2016.
Options will vest in line with the Company's Share Option Scheme
on a semi-annual pro rata basis over 24 months. Such vesting to be
subject to continued employment and acceptable performance in the
period preceding the vesting period.
For further information, please refer to the Company's website
at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc
+44 (0)20 7031
Mike Kirk, Executive Chairman 7321
Hemant Thanawala, Finance Director
Jason Miles, Chief Operating Officer
Nominated Adviser
Smith & Williamson Corporate Finance
Limited
+44 (0)20 7131
Dr Azhic Basirov 4000
Ben Jeynes
Broker
Peel Hunt LLP
+44 (0)20 7418
Richard Crichton 8900
Ross Allister
Chris Burrows
Public & Investor Relations
Bell Pottinger
+44 (0)20 3772
Rollo Crichton-Stuart 2569
Greg Wood
This information is provided by RNS
The company news service from the London Stock Exchange
END
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