QFI.L Regulatory News (QFI)

30 July 2021

Quadrise Fuels International plc

("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")

Block Admissions

Quadrise, the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, low-cost, cleaner alternatives to heavy fuel oil and biofuels, announces that it has today made application for the block admissions (the "Block Admissions") of up to a total of 40,228,025 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to be admitted to trading on AIM.

Application has been made for the Block Admission Ordinary Shares, which will, when issued, rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission") at 8.00 a.m. on 5 August 2021.

Following Admission, the Company will continue to have 1,406,900,659 Ordinary Shares in issue, which remains unchanged from previous notifications.

The Block Admissions, which enable the Company to handle future smaller warrant exercises in an efficient manner, have been made in respect of the issue of new Ordinary Shares which may be issued from time to time pursuant to the exercise of certain existing warrants to subscribe for new Ordinary Shares in the amounts shown below.

(i) Warrants to subscribe for new Ordinary Shares at a price of 3.532 pence per new Ordinary Share at any time until expiry on 27 February 2022 issued by the Company in December 2019 (the "December 2019 Warrants"). The grant of the December 2019 Warrants was announced by the Company on 29 November 2019 in connection with a Morocco Representation Agreement announced on 6 March 2019;

(ii) Warrants to subscribe for new Ordinary Shares at a price of 5.78 pence per new Ordinary Share at any time until expiry on 27 September 2022 issued by the Company in September 2019 (the "September 2019 Warrants"). The grant of the September 2019 Warrants was first announced by the Company on 23 August 2019 in connection with a then announced issue of convertible securities by the Company; 

(iii) Warrants to subscribe for new Ordinary Shares at a price of 7.48 pence per new Ordinary Share at any time until 6 September 2022 issued by the Company in September 2019 (the "September 2019 - Open Offer Warrants"). The grant of the September 2019 - Open Offer Warrants was announced by the Company on 30 September 2019 in connection with an open offer to existing Quadrise shareholders first announced on 9 September 2019; and

(iv) Warrants to subscribe for new Ordinary Shares at a price of 7.48 pence per new Ordinary Share at any time until expiry on 6 September 2022 issued by the Company in September 2019 (the "September 2019 - Subscription Warrants"). The grant of the September 2019 - Subscription Warrants was announced by the Company on 9 September 2019 in connection with a then announced subscription for new ordinary shares in the Company.

together the "Warrants".

Block Admissions

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