Issue of Share Options

RNS Number : 7151D

Quadrise Fuels International PLC

27 June 2019

 

27 June 2019

Quadrise Fuels International plc

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

Issue of Share Options

Quadrise announces that it has today granted a total of 15,000,000 options (the "Options") over new ordinary shares of 1p each in the Company ("Ordinary Shares") to the directors of the Company in accordance with the provisions of: (a) the Company's Enterprise Management Incentive Plan ("EMI Plan"), in respect of awards of an aggregate of 8,000,000 Options to executive directors (the "EMI Options"); and (b) the Company's Unapproved Option Scheme 2016 ("2016 Scheme") in respect of awards of an aggregate of 7,000,000 Options to the Company's non-executive directors ("2016 Scheme Options").

Following the grant of Options to the directors in the amounts shown below, the Company has a total of 39,400,000 Ordinary Shares under option, representing approximately 4.3 per cent of the Company's current issued ordinary share capital. In addition, the Company has, conditionally, a further 118,000,000 Ordinary Shares under warrant, representing 12.8 per cent. of the Company's current issued ordinary share capital.

Director	Number of Options	Plan	Exercise price
Mike Kirk	3,000,000	EMI Plan	7.5p
Jason Miles	5,000,000	EMI Plan	7.5p
Laurie Mutch	2,000,000	2016 Scheme	7.5p
Philip Snaith	2,000,000	2016 Scheme	7.5p
Hemant Thanawala	2,000,000	2016 Scheme	7.5p
Dilip Shah	500,000	2016 Scheme	7.5p
Bryan K Sanderson	500,000	2016 Scheme	7.5p
Total	15,000,000	-	-

The EMI Options will vest as to: 25% one month after the date of grant; 25% on the first anniversary of the grant date subject to the satisfaction of certain performance conditions prior to that date; and 25% on each of the second and third anniversaries of the grant date subject to the assessed satisfactory individual performance of the awardee.     

The 2016 Scheme Options will vest 25% on grant, 25% on the first anniversary of grant, 25% on the second anniversary of grant, and 25% on the third anniversary of grant.

The EMI Options will be exercisable from vesting until the tenth anniversary of grant and the 2016 Scheme Options will be exercisable from vesting until the eighth anniversary of grant.

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

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

Quadrise Fuels International Plc
Mike Kirk, Executive Chairman	[phone]
Jason Miles, Chief Operating Officer
Nominated Adviser
Cenkos Securities plc
Dr Azhic Basirov	[phone]
Ben Jeynes Katy Birkin
Joint Brokers
Peel Hunt LLP
Richard Crichton	[phone]
Ross Allister
Shore Capital Stockbrokers Limited
Daniel Harris Andy Crossley	[phone]
Public & Investor Relations
FTI Consulting
Ben Brewerton	[phone]
Ntobeko Chidavaenzi

NOTIFICATION AND PUBLIC DISCLOSURE 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	Executive 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 options over ordinary shares of 1 pence each
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	27 June 2019
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 Operating 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	5,000,000
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	27 June 2019
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Laurence Ian Mutch
2	Reason for the notification
a)	Position/status	Non-executive 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	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	2,000,000
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	27 June 2019
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Philip Neil Snaith
2	Reason for the notification
a)	Position/status	Non-executive 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	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	2,000,000
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	27 June 2019
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Hemant Thanawala
2	Reason for the notification
a)	Position/status	Non-executive 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	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	2,000,000
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	27 June 2019
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Dilipkumar Kantilal Shah
2	Reason for the notification
a)	Position/status	Non-executive 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	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	500,000
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	27 June 2019
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bryan Kaye Sanderson
2	Reason for the notification
a)	Position/status	Non-executive 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	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	500,000
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price	N/A - single transaction
e)	Date of the transaction	27 June 2019
f)	Place of the transaction	Outside of a trading venue

 

END

 

 

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