Issue of Share Options & Director/PDMR Dealing

RNS Number : 7296K

Quadrise Fuels International PLC

03 September 2021

 

3 September 2021

Quadrise Fuels International plc

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

Issue of Share Options and Director/PDMR Dealing

Quadrise announces that it has today granted performance share options (the "Performance Options") over new ordinary shares of 1p each in the Company ("Ordinary Shares") under the provisions of the Company's Unapproved Share Option Plan 2016 ("2016 Plan") to the executive directors of the Company, in the amounts set out below. The issue of the Performance Options follows the lapsing in full of options issued by the Company on 24 August 2020 due to the specific performance conditions of those options not having been met.

Director	Number of Performance Options	Plan	Exercise price
Mike Kirk	3,000,000	2016 Plan	7.5p
Jason Miles	7,500,000	2016 Plan	7.5p
Total	10,500,000	-	-

These Performance Options will vest as to 50% on the first anniversary of grant and the remaining 50% shall vest on the second anniversary of the date of grant. All vestings are subject to the satisfaction of specific performance conditions prior to the first anniversary of grant. The Performance Options will be exercisable from vesting until the eighth anniversary of the date of grant.

Quadrise has also today issued a total of 4,015,722 nominal value options ("NVO") to certain of the Company's PDMRs and employees in lieu of cash bonuses for the year ended 30 June 2021. The NVOs have been issued under the Company's Enterprise Management Incentive Share Option Plan ("EMI Plan") or 2016 Plan, as appropriate. These awards recognise the significant progress made with bioMSAR™ development and provide a further commercial delivery incentive. The issue of NVOs include the following awards to certain of the Company's PDMRs:  

Director/PDMR	Number of NVOs	Plan	Exercise price
Mike Kirk	776,931	2016 Plan	1.0p
Jason Miles	1,775,862	2016 Plan	1.0p
David Scott	556,034	EMI Plan	1.0p
Total	3,108,827	-	-

The NVOs issued to Mike Kirk and Jason Miles under the 2016 Plan will vest after 12 months from the date of grant, have no performance conditions and will be exercisable from vesting until the eighth anniversary of the date of grant. The NVO's issued to David Scott and certain other employees under the EMI Plan will vest after 12 months from the date of grant, have no performance conditions and will be exercisable from vesting until the tenth anniversary of the date of grant.

Following the grant of Performance Options and NVOs detailed above, the Company has a total of 42,866,456 Ordinary Shares under option, representing approximately 3.0% of the Company's current issued ordinary share capital. In addition, the Company has a further 40,228,026 Ordinary Shares under warrant, representing 2.9% of the Company's current issued ordinary share capital.

The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further details.

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

Quadrise Fuels International Plc
Mike Kirk, Chairman	[phone]
Jason Miles, Chief Executive Officer
Nominated Adviser
Cenkos Securities plc
Ben Jeynes	[phone]
Katy Birkin
Joint Brokers
Peel Hunt LLP
Richard Crichton	[phone]
David McKeown
Shore Capital Stockbrokers Limited
Toby Gibbs	[phone]
Fiona Conroy
Public & Investor Relations
Ben Brewerton	[phone]
Ntobeko Chidavaenzi

NOTIFICATIONS AND PUBLIC DISCLOSURES OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Peter Kirk
2	Reason for the notification
a)	Position/status	Chairman
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	213800HN2ETG5476U328
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 1 pence each
	Identification code	ISIN: GB00B11DDB67
b)	Nature of the transaction	Grant of Performance Options over ordinary shares of 1 pence each under the Company's 2016 Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.00	3,000,000
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	3 September 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jason Victor Miles
2	Reason for the notification
a)	Position/status	Chief Executive Officer
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	213800HN2ETG5476U328
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 1 pence each
	Identification code	ISIN: GB00B11DDB67
b)	Nature of the transaction	Grant of Performance Options over ordinary shares of 1 pence each under the Company's 2016 Plan
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.00	7,500,000
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	3 September 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael Peter Kirk
2	Reason for the notification
a)	Position/status	Chairman
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	213800HN2ETG5476U328
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 1 pence each
	Identification code	ISIN: GB00B11DDB67
b)	Nature of the transaction	Grant of Nominal Value Options over ordinary shares of 1 pence each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.00	776,931
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	3 September 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jason Victor Miles
2	Reason for the notification
a)	Position/status	Chief Executive Officer
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	213800HN2ETG5476U328
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 1 pence each
	Identification code	ISIN: GB00B11DDB67
b)	Nature of the transaction	Grant of options over ordinary shares of 1 pence each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.00	1,775,862
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	3 September 2021
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Scott
2	Reason for the notification
a)	Position/status	Head of Finance
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	213800HN2ETG5476U328
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 1 pence each
	Identification code	ISIN: GB00B11DDB67
b)	Nature of the transaction	Grant of options over ordinary shares of 1 pence each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			£0.00	556,034
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	3 September 2021
f)	Place of the transaction	Outside of a trading venue

 

END

 

 

DSHZZGGLFFLGMZM