Director/PDMR Shareholding

RNS Number : 3794R

Quadrise Fuels International PLC

02 November 2011

 



2 November 2011

Quadrise Fuels International Plc

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

Directors' Dealings

QFI, the emerging manufacturer and supplier of MSAR® emulsion fuels, a low cost alternative to heavy fuel oil in the global shipping, refining and steam and power generation markets, announces that, today, Ian Williams and Hemant Thanawala, both directors of the Company, were each awarded options ("Options") over 1,000,000 ordinary shares of 1p each in the Company ("Ordinary Shares") owned by International Energy Group AG ("IEG").  The Options are exercisable with immediate effect up until 30 November 2017. 

The issue of the Options to Ian Williams and Hemant Thanawala is in relation to their services to IEG for the year ended 30 June 2011.  Up until that date, their services as executive directors of the Company were provided via a service agreement with International Energy Services Limited, a subsidiary of IEG.

Following the award of these Options, Mr Williams' and Mr Thanawala's interests in the Company are as follows:

Director	Ordinary Shares	Percentage Issued Share Capital	Options	Exercisable up to
Ian Williams	9,396,580	1.30%	1,500,000	19 Apr 2016
			1,000,000	30 Nov 2017
Hemant Thanawala	9,363,400	1.30%	2,000,000	19 Apr 2016
			1,000,000	30 Nov 2017

Note:

Tilehouse Limited, a Jersey registered company, also holds 2,219,524 Ordinary shares of 1p each. Tilehouse Trust is the owner of Tilehouse Limited and Ian Williams is a beneficiary of Tilehouse Trust. The shares of Tilehouse Limited are held in the name of Brewin Nominees (Channel Islands) Limited.

Until these Options (and any other Options previously granted by IEG to Quadrise directors or employees) are exercised, and assuming IEG does not undertake any other dealings in Ordinary Shares, its holding in the Company remains 272,474,715 Ordinary Shares, representing 37.71% of the Company's issued share capital.

-ENDS-

For Further Information:

Ian Williams, Executive Chairman Hemant Thanawala, Finance Director Quadrise Fuels International Plc	[phone]
Dr Azhic Basirov / Siobhan Sergeant Nominated Adviser Smith & Williamson Corporate Finance Limited	[phone]
Dermot McKechnie / Petre Norton Broker Westhouse Securities Limited	+ 44 (0)20 7601 6100
Philip Dennis / Nick Lambert / Rollo Critchton-Stuart Public & Investor Relations Pelham Bell Pottinger	[phone]

 

END

 

 

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