Holding(s) in Company & Director/PDMR Shareholding

RNS Number : 5548N

Quadrise Fuels International PLC

26 October 2016

 

26 October 2016

Quadrise Fuels International plc

("Quadrise", "QFI'', the "Company" and together with its subsidiaries the "Group")

Holding(s) in Company and Director/PDMR Shareholding

Quadrise Fuels International plc (AIM: QFI), is the emerging supplier of MSAR® emulsion technology and fuel, enabling a low-cost alternative to heavy fuel oil (one of the world's largest fuel markets, comprising over 450 million tonnes per annum) in the global shipping, refining, power generation markets.

Quadrise announces that it has been notified today by International Energy Group AG ("IEG") that IEG has today disposed of its 3.87% interest in the Company, by way of a distribution of IEG's entire remaining holding of 32,943,515 ordinary shares of 1p each in the Company ("Ordinary Shares") to IEG's own underlying shareholders (the "Disposal").

As first announced by the Company on 11 September 2014, IEG previously advised the Company that IEG was undertaking a phased process intended to lead to the dissolution of IEG by year end 2016 which would result in IEG's entire holding in QFI being distributed to the underlying shareholders of IEG.

Under the Disposal, 2,779,026 Ordinary Shares have been distributed to Lucrone Investments GmbH for nil consideration, a company in which Hemant Thanawala, the Company's Finance Director, has a beneficial interest.

As a result, Mr. Thanawala is now beneficially interested in a total of 31,039,579 Ordinary Shares, representing 3.64% of the Company's issued ordinary share capital.

The notification below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

For further information, please contact:

Quadrise Fuels International Plc
Mike Kirk, 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
Katy Birkin
Broker
Peel Hunt LLP
Richard Crichton	[phone]
Ross Allister  Chris Burrows
Public & Investor Relations
FTI Consulting
Ben Brewerton	[phone]

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Hemant Thanawala
2	Reason for the notification
a)	Position/status	PDMR (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	-
4	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)	Description of the financial instrument, type of instrument	Ordinary shares of 1p each
	Identification code	GB00B11DDB67
b)	Nature of the transaction	Acquisition of ordinary shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.00	2,779,026
d)	Aggregated information	N/A (single transaction)
	Aggregated volume
	Price
e)	Date of the transaction	26 October 2016
f)	Place of the transaction	Outside of a trading venue

 

END

 

 

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