Appointment of Executive Director

RNS Number : 0309U

Quadrise Fuels International PLC

10 October 2014

 



10 October 2014

Quadrise Fuels International PLC

("QFI", "Quadrise" or the "Company")

Appointment of Executive Director

Quadrise, the emerging supplier of MSAR, a low cost alternative to heavy fuel oil in the shipping, refining and power generation markets, is pleased to announce that Mr Jason Miles, previously interim Chief Operating Officer ("COO") of Quadrise International Limited ("QIL"), has been appointed as an executive director of the Company with immediate effect.

Mr Miles has served as interim COO of QIL since September 2010 and has, in addition, served as a non-executive director of QFI since 18 October 2010 following a re-structuring of the Company and its management at that time. QIL is the wholly owned principal operating subsidiary of QFI, and in the past, the services of Jason Miles were provided to the Group under the terms of a contract between Roe Projects Limited and QIL. This services contract has been terminated by mutual agreement with retroactive effect from 30 September 2014.

Mr Miles is now employed directly by the Company and has been appointed Group COO with effect from 1 October 2014. His directorship of QFI continues, but being now directly employed by QFI in a senior executive capacity he will serve on the QFI board as an executive director. Jason will also continue to serve on the board of QIL.

Commenting on the changes, Ian Williams, Quadrise's Executive Chairman, said:

"Jason Miles continues to play a key role making a major contribution to the Company. The arrangements agreed in 2010 were right for the time and circumstances. The new arrangements reflect the development and progress of the Company, and the evolution of Jason's role, since then.

We have been waiting for a suitable opportunity to effect the changes now announced, ahead of the imminent transition of Quadrise to substantial commercial operations in 2015."

For further information on the Company, please refer to www.quadrisefuels.com or contact:

Quadrise Fuels International Plc	[phone]
Ian Williams, Executive Chairman
Hemant Thanawala, Finance Director Jason Miles, Chief Operating Officer
Nominated Adviser
Smith & Williamson Corporate Finance Limited	[phone]
Dr Azhic Basirov
Ben Jeynes
Broker
Peel Hunt LLP	[phone]
Richard Crichton
Matthew Armitt
Ross Allister
Public & Investor Relations
Bell Pottinger	[phone]
Philip Dennis
Rollo Crichton-Stuart

 

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