24 Aug 2020 07:00
24 August 2020
Quadrise Fuels International plc
("Quadrise", "QFI" or "the Company")
Issue of Share Options
Quadrise announces that on 21 August 2020 it granted a total of 10,000,000 options (the "Options") over new ordinary shares of 1p each in the Company ("Ordinary Shares") to directors of the Company in accordance with the provisions of (a) the Company's Enterprise Management Incentive Plan ("EMI Plan"), in respect of awards of an aggregate of 4,261,756 Options (the "EMI Options") and (b) the Company's Unapproved Option Scheme 2016 ("2016 Scheme") in respect of awards of an aggregate of 5,738,244 Options ("2016 Scheme Options").
Following the grant of Options to the directors in the amounts shown below, the Company has a total of 49,250,000 Ordinary Shares under option, representing approximately 4.7% of the Company's current issued ordinary share capital. In addition, the Company has a further 45,228,026 Ordinary Shares under warrant, representing 4.3% of the Company's current issued ordinary share capital.
Director | Number of Options | Plan | Exercise price |
Mike Kirk | 2,000,000 |
EMI Plan (1,261,756 Options) 2016 Scheme (738,244 Options)
| 7.5p |
Jason Miles | 5,000,000 | 2016 Scheme | 7.5p |
Mark Whittle | 3,000,000 | EMI Plan | 7.5p |
Total | 10,000,000 | - | - |
The EMI Options and the 2016 Scheme Options will vest as to 50% on the first anniversary of the grant and the remaining 50% shall vest on the second anniversary of the date of grant. All vestings are subject to the satisfaction of certain performance conditions prior to the vesting date. The 2016 Scheme Options and the EMI Options will be exercisable from vesting until the eighth and tenth anniversaries of grant respectively.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further details.
For further information, please refer to the Company's website at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc |
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Mike Kirk, Chairman | +44 (0)20 7031 7321 |
Jason Miles, Chief Executive Officer |
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Nominated Adviser |
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Cenkos Securities plc |
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Ben Jeynes | +44 (0)20 7397 8900 |
Katy Birkin |
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Joint Brokers |
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Peel Hunt LLP |
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Richard Crichton | +44 (0)20 7418 8900 |
David McKeown |
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Shore Capital Stockbrokers Limited |
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Toby Gibbs | +44 (0)20 7408 4090 |
Fiona Conroy |
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Public & Investor Relations |
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Ben Brewerton | +44 (0)20 3727 1000 |
Ntobeko Chidavaenzi |
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Notes to Editors
QFI is the supplier of MSAR® emulsion technology and fuels, a low-cost alternative to heavy fuel oil (one of the world's largest fuel markets, comprising over 450 million tons per annum) in the global shipping, refining and steam and power generation industries.
NOTIFICATIONS AND PUBLIC DISCLOSURES 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 | Michael Peter Kirk | |||
2 | Reason for the notification | ||||
a) | Position/status | Chairman | |||
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 | 213800HN2ETG5476U328 | |||
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 1 pence each | |||
Identification code | ISIN: GB00B11DDB67 | ||||
b) | Nature of the transaction | Grant of options over ordinary shares of 1 pence each | |||
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| £0.00 | 2,000,000 |
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d)
| Aggregated information |
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- Aggregated volume | N/A - single transaction | ||||
- Price | N/A - single transaction | ||||
e) | Date of the transaction | 21 August 2020 | |||
f) | Place of the transaction | Outside of a trading venue | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Jason Victor Miles | |||
2 | Reason for the notification | ||||
a) | Position/status | Chief Executive 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 | 213800HN2ETG5476U328 | |||
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 1 pence each | |||
Identification code | ISIN: GB00B11DDB67 | ||||
b) | Nature of the transaction | Grant of options over ordinary shares of 1 pence each | |||
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| £0.00 | 5,000,000 |
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d)
| Aggregated information |
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- Aggregated volume | N/A - single transaction | ||||
- Price | N/A - single transaction | ||||
e) | Date of the transaction | 21 August 2020 | |||
f) | Place of the transaction | Outside of a trading venue | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Mark Whittle | |||
2 | Reason for the notification | ||||
a) | Position/status | 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 | 213800HN2ETG5476U328 | |||
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 1 pence each | |||
Identification code | ISIN: GB00B11DDB67 | ||||
b) | Nature of the transaction | Grant of options over ordinary shares of 1 pence each | |||
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| £0.00 | 3,000,000 |
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d)
| Aggregated information |
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- Aggregated volume | N/A - single transaction | ||||
- Price | N/A - single transaction | ||||
e) | Date of the transaction | 21 August 2020 | |||
f) | Place of the transaction | Outside of a trading venue | |||