Quadrise Fuels International PLC Issue of Options and Directors' Dealings (2659T)
25 March 2016 - 3:13AM
UK Regulatory
TIDMQFI
RNS Number : 2659T
Quadrise Fuels International PLC
24 March 2016
24 March 2016
Quadrise Fuels International plc
("Quadrise", "QFI" or the "Company")
Issue of Options and Directors' Dealings
Quadrise, the emerging supplier of MSAR(R) , a low cost
alternative to heavy fuel oil in the shipping, refining, and power
generation markets, announces that on 22 March 2016 a total of
2,000,000 options to subscribe for new Ordinary shares of 1p each
in the Company ("Ordinary Shares") were granted to two directors of
the Company in accordance with the provisions of the Company's
Share Option Scheme in the quantums laid out below (the
"Options").
Following the grant of the Options, the Company has a total of
31,450,000 Ordinary Shares under option, representing approximately
3.88 per cent of the Company's issued ordinary share capital.
Director Number of Options
granted
Jason Miles 1,500,000
Hemant Thanawala 500,000
In accordance with the rules of the Company's Share Option
Scheme, the Options are exerciseable at a price of 12.13 pence per
Ordinary Share, being the highest of: a) the nominal value of the
Ordinary Shares; b) 11.50 pence per Ordinary Share, being the
average of the closing mid-market price per Ordinary Share for the
30 dealing days preceding the date of the grant; and c) 12.13
pence, being the closing mid-market price per Ordinary Share on 22
March 2016.
Options will vest in accordance with the Company's Share Option
Scheme on a semi-annual pro rata basis over 24 months. Such vesting
to be subject to continued employment and acceptable performance in
the period preceding the vesting period.
For further information, please refer to the Company's website
at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc
+44 (0)20 7031
Ian Williams, Executive Chairman 7321
Hemant Thanawala, Finance Director
Jason Miles, Chief Operating Officer
Nominated Adviser
Smith & Williamson Corporate Finance Limited
+44 (0)20 7131
Dr Azhic Basirov 4000
Ben Jeynes
Broker
Peel Hunt LLP
+44 (0)20 7418
Richard Crichton 8900
Ross Allister
Chris Burrows
Public & Investor Relations
Bell Pottinger
Rollo Crichton-Stuart +44 (0)20 3772 2569
Greg Wood
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCJIMFTMBBTBTF
(END) Dow Jones Newswires
March 24, 2016 12:13 ET (16:13 GMT)
Quadrise (LSE:QED)
Historical Stock Chart
From Apr 2024 to May 2024
Quadrise (LSE:QED)
Historical Stock Chart
From May 2023 to May 2024