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QUADRISE PLC Director's Dealing 2023
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Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 1726O
Quadrise Fuels International PLC
30 January 2023
30 January 2023
Quadrise Fuels International plc
("Quadrise," "QFI" or the "Company")
Re-Issue of Historical Share Options
Quadrise (AIM:QFI), the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, providing innovative lower cost and lower carbon alternatives to fuel oil and biofuels, announces the cancellation and re-issuance of certain previously awarded share options, details of which were originally announced on 27 June 2019 and 4 August 2022 (the "Option Grants").
In order to ensure that the Option Grants made under the Company's Enterprise Management Incentive Plan (the "Plan"), qualify for the tax relief allowed by the Plan as had been intended at the time of grant, it has been necessary to cancel a total of 14,733,038 share options awarded pursuant to the Option Grants (the "Cancelled Options") and otherwise to employees in 2019 and 2022, and to issue an aggregate of 14,733,038 new share options with the same exercise prices and with vesting and expiry dates as outlined below, to the Option Grant recipients (the "Replacement Options") and to the same employees.
8,478,782 of the Replacement Options have been awarded to directors and PDMRs of the Company, details of which are as follows:
Cancelled Options - Director/PDMR Interests
| Director/PDMR | Number of options | Exercise price | Grant date | Vesting date | Expiry date |
| Jason Miles | 3,551,122 | 7.5p | 27-Jun-19 | 27-Jun-22 | 27-Jun-29 |
| David Scott | 550,000 | 7.5p | 13-May-19 | 13-May-22 | 13-May-29 |
| Phil Hill | 1,000,000 | 3p | 03-Aug-22 | 50% on 03-Aug-23 and 50% on 03-Aug-24* | 03-Aug-32 |
| David Scott | 1,250,000 | 3p | 03-Aug-22 | 50% on 03-Aug-23 and 50% on 03-Aug-24* | 03-Aug-32 |
| Phil Hill | 212,766 | 1p | 03-Aug-22 | 03-Aug-23 | 03-Aug-32 |
| David Scott | 1,914,894 | 1p | 03-Aug-22 | 03-Aug-23 | 03-Aug-32 |
Replacement Options - Director/PDMR Interests
| Director/PDMR | Number of options | Exercise price | Grant date | Vesting date | Expiry date |
| Jason Miles | 3,551,122 | 7.5p | 27-Jan-23 | 27-Apr-23 | 27-Jun-29 |
| David Scott | 550,000 | 7.5p | 27-Jan-23 | 27-Apr-23 | 13-May-29 |
| Phil Hill | 1,000,000 | 3p | 27-Jan-23 | 50% on 03-Aug-23 and 50% on 03-Aug-24* | 27-Jan-33 |
| David Scott | 1,250,000 | 3p | 27-Jan-23 | 50% on 03-Aug-23 and 50% on 03-Aug-24* | 27-Jan-33 |
| Phil Hill | 212,766 | 1p | 27-Jan-23 | 03-Aug-23 | 27-Jan-33 |
| David Scott | 1,914,894 | 1p | 27-Jan-23 | 03-Aug-23 | 27-Jan-33 |
*- subject to the satisfaction of specific performance conditions prior to the vesting dates.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.
For further information, please refer to the Company's website at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc
+44 (0)20 7031 7321
Andy Morrison, Chairman
Jason Miles, Chief Executive Officer
Nominated Adviser
Cenkos Securities plc
+44 (0)20 7397 8900
Ben Jeynes
Katy Birkin
Broker
Shore Capital Stockbrokers Limited
+44 (0)20 7408 4090
Toby Gibbs
Fiona Conroy
Public & Investor Relations
Vigo Consulting
Patrick D'Ancona
Charlie Neish
+44 (0)20 7390 0230
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Jason Miles
2
Reason for notification
a)
Position/Status
Chief Executive Officer
Initial notification/amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Quadrise Fuels International plc
b)
LEI
213800HN2ETG5476U328
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument and identification code
Ordinary shares of 1 pence each
ISIN: GB00BM9CLS53
b)
Nature of transaction
1. Cancellation of historically awarded share options to subscribe for new ordinary shares
2. Grant of share options to subscribe for new ordinary shares under the Quadrise Enterprise Management Incentive Share Option Plan
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 1. Nil 2. Nil |
1. 3,551,122 2. 3,551,122 |
d)
Aggregated information
n/a
e)
Date of transaction
1. 26 January 2023
2. 27 January 2023
f)
Place of transaction
Outside of a trading venue
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
David Scott
2
Reason for notification
a)
Position/Status
Head of Finance
Initial notification/amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Quadrise Fuels International plc
b)
LEI
213800HN2ETG5476U328
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument and identification code
Ordinary shares of 1 pence each
ISIN: GB00BM9CLS53
b)
Nature of transaction
1. Cancellation of historical awards of share options to subscribe for new ordinary shares
2. Grant of share options to subscribe for new ordinary shares under the Quadrise Enterprise Management Incentive Share Option Plan
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 1. Nil 2. Nil |
1. 3,714,894 2. 3,714,894 |
d)
Aggregated information
n/a
e)
Date of transaction
1. 26 January 2023
2. 27 January 2023
f)
Place of transaction
Outside of a trading venue
1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Philip Hill
2
Reason for notification
a)
Position/Status
Chief Operating Officer
Initial notification/amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Quadrise Fuels International plc
b)
LEI
213800HN2ETG5476U328
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument and identification code
Ordinary shares of 1 pence each
ISIN: GB00BM9CLS53
b)
Nature of transaction
1. Cancellation of historical awards of share options to subscribe for new ordinary shares
2. Grant of share options to subscribe for new ordinary shares under the Quadrise Enterprise Management Incentive Share Option Plan
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 1. Nil 2. Nil |
1. 1,212,766 2. 1,212,766 |
d)
Aggregated information
n/a
e)
Date of transaction
1. 26 January 2023
2. 27 January 2023
f)
Place of transaction
Outside of a trading venue
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