Director/PDMR Shareholding

RNS Number : 7229Y

Quadrise Fuels International PLC

03 December 2014

 



3 December 2014

                                           Quadrise Fuels International Plc

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

                               Directors Interests and Holdings in Company    

Quadrise, the emerging supplier of MSAR, a low cost alternative to heavy fuel oil in the shipping, refining and power generation markets, announces that it was informed today of changes to the beneficial interests held directly and indirectly in the Company by two of Quadrise's directors, Mr Ian Williams and Mr Hemant Thanawala.

These changes to QFI Directors' interests follow the substantial disposal by International Energy Group AG ("IEGAG") of its remaining shareholding in QFI to its own shareholders, as announced by the Company earlier today (the "Transaction").

The resultant changes are as detailed below:

                                                                           Before the Transaction           After the Transaction

Ian Williams:  

Direct interest                                                            9,396,580                               9,396,580            

Indirect beneficial interest                                   2,219,524                             20,693,564

Total                                                                             11,616,104                             30,090,144

Entities owned by Tile House Trust, of which Mr Williams is a beneficiary, acquired 18,474,040 QFI shares from IEGAG on 3 December 2014 at a price of £ 0.2575 pence per share (equal to the closing mid-market price per QFI share on 2 December 2014). Following this transaction Ian Williams has an interest in 3.72% of QFI's issued ordinary share capital.

                                                                 Before the Transaction                   After the Transaction

Hemant Thanawala:

Direct interest                                                       7,863,400                                   7,863,400

Indirect beneficial interest                                                 -                                 20,347,153

Total                                                                           7,863,400                                28,210,553

Lucrone Investments GmbH, in which Mr Thanawala has a beneficial interest, acquired 20,347,153 QFI shares from IEGAG on 3 December 2014 at a price of £ 0.2575 pence per share (equal to the closing price per QFI share on 2 December 2014). Following this transaction Mr Thanawala has an interest in 3.49% of QFI's issued ordinary share capital.      

For further information, please refer to the Company's website at www.quadrisefuels.com or contact:

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

 

END

 

 

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