QUADRISE PLC — Share Issue/Capital Change 2020

Mar 24, 2020

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 3623H

Quadrise Fuels International PLC

24 March 2020

24 March 2020

Quadrise Fuels International plc

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

Issue of Equity

The Company announces that, following receipt of a notice of exercise in respect of the convertible security issued by the Company on 30 August 2019 (the "Convertible Security") to convert £100,000 of the Convertible Security into new ordinary shares in the Company at a conversion price of 1.2p per new ordinary share, the Company has today issued 8,333,333 new ordinary shares (the "New Ordinary Shares"). An amount of £2,050,000 remains outstanding under the Convertible Security.

Application has been made for the New Ordinary Shares, which rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM ("Admission"). Admission of the New Ordinary Shares is expected at 8.00 a.m. on 27 March 2020.

On Admission, the Company will have 1,004,090,168 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. No Ordinary Shares are held in treasury. The total number of voting rights in the Company will therefore be 1,004,090,168 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company in accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information, please refer to the Company's website at www.quadrisefuels.com, or contact [email protected] or phone:

Quadrise Fuels International Plc
Mike Kirk,  Chairman	+44 (0)20 7031 7321
Jason Miles, Chief Executive Officer
Nominated Adviser
Cenkos Securities plc
Ben Jeynes	+44 (0)20 7397 8900
Katy Birkin
Joint Brokers
Peel Hunt LLP
Richard Crichton	+44 (0)20 7418 8900
David McKeown
Shore Capital Stockbrokers Limited
Toby Gibbs	+44 (0)20 7408 4090
Fiona Conroy
Public & Investor Relations
Ben Brewerton	+44 (0)20 3727 1000
Ntobeko Chidavaenzi

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 shipping, refining and steam and power generation industries.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

END

IOEBZLFLBXLFBBF