Update on Interim LONO

RNS Number : 4791H

Quadrise Fuels International PLC

08 June 2017

 

8 June 2017

Quadrise Fuels International plc

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

Update on Interim LONO

Quadrise Fuels International plc (AIM:QFI) announces an update on the provision of the Interim Letter of No Objection ("LONO") from Wärtsilä.

Further to the Company's announcement on 19 May 2017, Quadrise is pleased to report that it has now received confirmation that a draft interim LONO has been produced by Wärtsilä and that this is in the process of being reviewed by Maersk. Following the review by Maersk, the final interim LONO will be provided to QFI. The Company's current expectation is that it will receive the interim LONO in June 2017.

Mike Kirk, Executive Chairman, said:

"It is pleasing to be able to confirm that the Interim LONO has been received by Maersk and will be available to QFI following Maersk's review. We look forward to being able to update shareholders upon receipt and to using it to actively support our business development activities in the marine market."

This announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.

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]
Hemant Thanawala, Finance Director
Nominated Adviser
Smith & Williamson Corporate Finance Limited
Dr Azhic Basirov	[phone]
Ben Jeynes Katy Birkin
Broker
Peel Hunt LLP
Richard Crichton	[phone]
Ross Allister Chris Burrows

Public & Investor Relations
FTI Consulting
Ben Brewerton	[phone]
Sara Powell

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

 

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