25 Jan 2017 15:46
25 January 2017
Quadrise Fuels International plc
("Quadrise" or the "Company")
Director/PDMR Shareholder
Quadrise Fuels International plc (AIM: QFI), is the emerging supplier of MSAR® emulsion technology and fuel, enabling a low-cost alternative to heavy fuel oil (one of the world's largest fuel markets, comprising over 450 million tonnes per annum) in the global shipping, refining, power generation markets.
The Company has been notified that Hemant Thanawala, the Company's Finance Director, has today transferred 2,000,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to his adult son for nil consideration.
As a result, Mr. Thanawala is now interested in 29,039,579 Ordinary Shares, representing 3.37 per cent. of the Company's issued ordinary share capital.
The notification below, made in accordance with the requirements of the Market Abuse Regulation, provides 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 | Hemant Thanawala | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Director) | |
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 instrument, type of instrument | Ordinary shares of 1p each | |
| Identification code | GB00B11DDB67 | |
b) | Nature of the transaction | Disposal of ordinary shares | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
£0.00 | 2,000,000 | ||
d) | Aggregated information | N/A (single transaction) | |
| Aggregated volume | - | |
| Price | - | |
e) | Date of the transaction | 25 January 2017 | |
f) | Place of the transaction | Outside of a trading venue | |
For further information, please refer to the Company's website at www.quadrisefuels.com or contact:
Quadrise Fuels International plc Mike Kirk, Executive Chairman Hemant Thanawala , Finance Director Jason Miles, Chief Operating Officer | +44 (0)20 7031 7321 |
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Nominated Adviser Smith & Williamson Corporate Finance Limited Dr Azhic Basirov Ben Jeynes | +44 (0)20 7131 4000 |
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Broker Peel Hunt LLP Richard Crichton Ross Allister Chris Burrows | +44 (0)20 7418 8900 |
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Public & Investor Relations FTI Consulting Ben Brewerton Sara Powell | +44 (0)20 3727 1065
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