27 Jun 2019 17:20
27 June 2019
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Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
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Issue of Share Options
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Quadrise announces that it has today granted a total of 15,000,000 options (the "Options") over new ordinary shares of 1p each in the Company ("Ordinary Shares") to the 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 8,000,000 Options to executive directors (the "EMI Options"); and (b) the Company's Unapproved Option Scheme 2016 ("2016 Scheme") in respect of awards of an aggregate of 7,000,000 Options to the Company's non-executive directors ("2016 Scheme Options").
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Following the grant of Options to the directors in the amounts shown below, the Company has a total of 39,400,000 Ordinary Shares under option, representing approximately 4.3 per cent of the Company's current issued ordinary share capital. In addition, the Company has, conditionally, a further 118,000,000 Ordinary Shares under warrant, representing 12.8 per cent. of the Company's current issued ordinary share capital.
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Director | Number of Options | Plan | Exercise price |
Mike Kirk | 3,000,000 | EMI Plan | 7.5p |
Jason Miles | 5,000,000 | EMI Plan | 7.5p |
Laurie Mutch | 2,000,000 | 2016 Scheme | 7.5p |
Philip Snaith | 2,000,000 | 2016 Scheme | 7.5p |
Hemant Thanawala | 2,000,000 | 2016 Scheme | 7.5p |
Dilip Shah | 500,000 | 2016 Scheme | 7.5p |
Bryan K Sanderson | 500,000 | 2016 Scheme | 7.5p |
Total | 15,000,000 | - | - |
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The EMI Options will vest as to: 25% one month after the date of grant; 25% on the first anniversary of the grant date subject to the satisfaction of certain performance conditions prior to that date; and 25% on each of the second and third anniversaries of the grant date subject to the assessed satisfactory individual performance of the awardee.
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The 2016 Scheme Options will vest 25% on grant, 25% on the first anniversary of grant, 25% on the second anniversary of grant, and 25% on the third anniversary of grant.
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The EMI Options will be exercisable from vesting until the tenth anniversary of grant and the 2016 Scheme Options will be exercisable from vesting until the eighth anniversary of grant.
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The notification below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
For further information, please refer to the Company's website at www.quadrisefuels.com or contact:
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Quadrise Fuels International Plc | Â |
Mike Kirk, Executive Chairman | +44 (0)20 7031 7321 |
Jason Miles, Chief Operating Officer | Â |
 |  |
Nominated Adviser | Â |
Cenkos Securities plc | Â |
Dr Azhic Basirov | +44 (0)20 7397 8900 |
Ben Jeynes Katy Birkin | Â |
 |  |
Joint Brokers | Â |
Peel Hunt LLP | Â |
Richard Crichton | +44 (0)20 7418 8900 |
Ross Allister |  |
 |  |
Shore Capital Stockbrokers Limited | Â |
Daniel Harris Andy Crossley | +44 (0)20 7601 6108 |
 Public & Investor Relations |  |
FTI Consulting | Â |
Ben Brewerton | +44 (0)20 3727 1000 |
Ntobeko Chidavaenzi | Â |
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NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
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1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Michael Peter Kirk | |||
2 | Reason for the notification | ||||
a) | Position/status | Executive 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 Â | 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) Â | 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) Â | Price(s) and volume(s) | Â | Â | Â | Â |
 |  | Price(s) | Volume(s) |  | |
 |  | £0.00 | 3,000,000 |  | |
 |  |  |  |  | |
d) Â | Aggregated information | Â | |||
- Aggregated volume | N/A - single transaction | ||||
- Price | N/A - single transaction | ||||
e) | Date of the transaction | 27 June 2019 | |||
f) | Place of the transaction | Outside of a trading venue | |||
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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 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 Â | 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) Â | 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) Â | Price(s) and volume(s) | Â | Â | Â | Â |
 |  | Price(s) | Volume(s) |  | |
 |  | £0.00 | 5,000,000 |  | |
 |  |  |  |  | |
d) Â | Aggregated information | Â | |||
- Aggregated volume | N/A - single transaction | ||||
- Price | N/A - single transaction | ||||
e) | Date of the transaction | 27 June 2019 | |||
f) | Place of the transaction | Outside of a trading venue | |||
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1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Laurence Ian Mutch | |||
2 | Reason for the notification | ||||
a) | Position/status | Non-executive 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 | 213800HN2ETG5476U328 | |||
4 Â | 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) Â | 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) Â | Price(s) and volume(s) | Â | Â | Â | Â |
 |  | Price(s) | Volume(s) |  | |
 |  | £0.00 | 2,000,000 |  | |
 |  |  |  |  | |
d) Â | Aggregated information | Â | |||
- Aggregated volume | N/A - single transaction | ||||
- Price | N/A - single transaction | ||||
e) | Date of the transaction | 27 June 2019 | |||
f) | Place of the transaction | Outside of a trading venue | |||
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1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Philip Neil Snaith | |||
2 | Reason for the notification | ||||
a) | Position/status | Non-executive 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 | 213800HN2ETG5476U328 | |||
4 Â | 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) Â | 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) Â | Price(s) and volume(s) | Â | Â | Â | Â |
 |  | Price(s) | Volume(s) |  | |
 |  | £0.00 | 2,000,000 |  | |
 |  |  |  |  | |
d) Â | Aggregated information | Â | |||
- Aggregated volume | N/A - single transaction | ||||
- Price | N/A - single transaction | ||||
e) | Date of the transaction | 27 June 2019 | |||
f) | Place of the transaction | Outside of a trading venue | |||
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1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Hemant Thanawala | |||
2 | Reason for the notification | ||||
a) | Position/status | Non-executive 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 | 213800HN2ETG5476U328 | |||
4 Â | 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) Â | 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) Â | Price(s) and volume(s) | Â | Â | Â | Â |
 |  | Price(s) | Volume(s) |  | |
 |  | £0.00 | 2,000,000 |  | |
 |  |  |  |  | |
d) Â | Aggregated information | Â | |||
- Aggregated volume | N/A - single transaction | ||||
- Price | N/A - single transaction | ||||
e) | Date of the transaction | 27 June 2019 | |||
f) | Place of the transaction | Outside of a trading venue | |||
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1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Dilipkumar Kantilal Shah | |||
2 | Reason for the notification | ||||
a) | Position/status | Non-executive 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 | 213800HN2ETG5476U328 | |||
4 Â | 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) Â | 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) Â | Price(s) and volume(s) | Â | Â | Â | Â |
 |  | Price(s) | Volume(s) |  | |
 |  | £0.00 | 500,000 |  | |
 |  |  |  |  | |
d) Â | Aggregated information | Â | |||
- Aggregated volume | N/A - single transaction | ||||
- Price | N/A - single transaction | ||||
e) | Date of the transaction | 27 June 2019 | |||
f) | Place of the transaction | Outside of a trading venue | |||
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1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Bryan Kaye Sanderson | |||
2 | Reason for the notification | ||||
a) | Position/status | Non-executive 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 | 213800HN2ETG5476U328 | |||
4 Â | 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) Â | 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) Â | Price(s) and volume(s) | Â | Â | Â | Â |
 |  | Price(s) | Volume(s) |  | |
 |  | £0.00 | 500,000 |  | |
 |  |  |  |  | |
d) Â | Aggregated information | Â | |||
- Aggregated volume | N/A - single transaction | ||||
- Price | N/A - single transaction | ||||
e) | Date of the transaction | 27 June 2019 | |||
f) | Place of the transaction | Outside of a trading venue | |||
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