5 Jul 2016 14:05
5 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® 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 Hemant Thanawala, the Company's Finance Director, has today exercised 1,000,000 options granted to him by International Energy Group AG ("IEG") to acquire existing ordinary shares in the Company held by IEG at a price of 0.01 pence per ordinary share. Mr. Thanawala also today sold 500,000 ordinary shares in the Company at a price of 10 pence per ordinary share to meet his expected tax liability in respect of the exercise.
As a result, Mr. Thanawala is now beneficially interested in a total of 27,710,553 ordinary shares in the Company, representing 3.42% of the Company's issued ordinary share capital.
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