23 Jul 2019 11:08
23 July 2019
Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
Statement re Share Price Movement
Quadrise notes the movement in its share price. During 2019 the Company has been pleased to have reported significant business development progress, including the entry of new partnerships focussing on potential opportunities in Kuwait, the Kingdom of Saudi Arabia, Mexico, Morocco, China, the Commonwealth of Independent States (including Russia), Poland, Romania and Vietnam.
The agreements and MoUs entered into by Quadrise in 2019 follow the entry of a Co-Marketing and Project Development Agreement with Freepoint Commodities LLC in November 2018. As previously announced, the Company has sufficient resources to continue to operate and advance its business development opportunities until early October 2019.
As a result, the Company confirms that it is now seeking equity or equity-linked funding to enable the Company to continue with its business development initiatives beyond early October 2019 with a view to capitalising on recent business development progress and, ultimately, to delivering commercial projects.
Further announcements will be made, as appropriate, in due course.
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, Executive Chairman | +44 (0)20 7031 7321 |
Jason Miles, Chief Operating Officer |
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Nominated Adviser |
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Cenkos Securities plc |
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Dr Azhic Basirov | +44 (0)20 7397 8900 |
Ben Jeynes 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 |
Ross Allister |
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Shore Capital Stockbrokers Limited |
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Daniel Harris Andy Crossley | +44 (0)20 7601 6108 |
Public & Investor Relations |
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FTI Consulting |
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Ben Brewerton Ntobeko Chidavaenzi | +44 (0)20 3727 1000 |
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 power generation, shipping, steam and refining industries.
This announcement is inside information for the purposes of Article 7 of EU Regulations.