Stmnt re Share Price Movement

RNS Number : 4306G

Quadrise Fuels International PLC

23 July 2019

 

23 July 2019

Quadrise Fuels International plc

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

Statement re Share Price Movement

Quadrise notes the movement in its share price. During 2019 the Company has been pleased to have reported significant business development progress, including the entry of new partnerships focussing on potential opportunities in Kuwait, the Kingdom of Saudi Arabia, Mexico, Morocco, China, the Commonwealth of Independent States (including Russia), Poland, Romania and Vietnam.

The agreements and MoUs entered into by Quadrise in 2019 follow the entry of a Co-Marketing and Project Development Agreement with Freepoint Commodities LLC in November 2018. As previously announced, the Company has sufficient resources to continue to operate and advance its business development opportunities until early October 2019.

As a result, the Company confirms that it is now seeking equity or equity-linked funding to enable the Company to continue with its business development initiatives beyond early October 2019 with a view to capitalising on recent business development progress and, ultimately, to delivering commercial projects.

Further announcements will be made, as appropriate, in due course.

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 Ntobeko Chidavaenzi	[phone]

Notes to Editors

QFI is the supplier of MSAR® emulsion technology and fuels, a low-cost alternative to heavy fuel oil (one of the world's largest fuel markets, comprising over 450 million tons per annum) in the global power generation, shipping, steam and refining industries.

This announcement is inside information for the purposes of Article 7 of EU Regulations.

 

END

 

 

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