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: [phone]

Ian Williams, Executive Chairman

Hemant Thanawala, Finance Director

Fairfax I.S. PLC

Tel: [phone]

Simon Bennett/Katy Birkin

Jendens Securities Limited

Tel: [phone]

Andrew Matharu

Andrew Edwards

Christopher Thomas

 

END

 

 

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