Result of Placing and Open Offer

RNS Number : 8584D
Quadrise Fuels International PLC
30 March 2011
 



Quadrise Fuels International Plc ("QFI" or the "Company")

 

Result of Placing and Open Offer to raise £3 million

 

30 March 2011

 

The Company announces that 8,982,985 Offer Shares have been subscribed for by Qualifying Shareholders under the Open Offer, which closed on 29 March 2011. 62,752,435 Offer Shares had been placed firm with institutional and other investors, and as a result of the take up of 8,982,985 Offer Shares under the Open Offer a further 14,081,114 Offer Shares provisionally placed with institutional and other investors have now been placed accordingly with them.

 

The Placing and Open Offer to raise approximately £3 million (gross of expenses) at 3.5 pence per Offer Share will result in the issue of a total of 85,816,534 new ordinary shares (representing 13.51 per cent. of the Enlarged Issued Share Capital). Application has been made to the London Stock Exchange for the Offer Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence on 4 April 2011.

 

All capitalised definitions in this announcement bear the same meaning as those in the announcement made by the Company on 8 March 2011.

 

Enquiries:

 

Quadrise Fuels International plc

Tel: +44 (0)20 7550 4931

Ian Williams, Executive Chairman

Hemant Thanawala, Finance Director

 

Fairfax I.S. PLC

Tel: +44 (0)20 7598 5368

Simon Bennett/Katy Birkin

 

Jendens Securities Limited

Tel: +44 (0)20 3372 2500

Andrew Matharu

Andrew Edwards

Christopher Thomas

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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