Quadrise Fuels International PLC Holding(s) in Company & Director/PDMR Shareholding (5548N)
October 26 2016 - 10:46AM
UK Regulatory
TIDMQFI
RNS Number : 5548N
Quadrise Fuels International PLC
26 October 2016
26 October 2016
Quadrise Fuels International plc
("Quadrise", "QFI", the "Company" and together with its
subsidiaries the "Group")
Holding(s) in Company and Director/PDMR Shareholding
Quadrise Fuels International plc (AIM: QFI), is the emerging
supplier of MSAR(R) emulsion technology and fuel, enabling a
low-cost alternative to heavy fuel oil (one of the world's largest
fuel markets, comprising over 450 million tonnes per annum) in the
global shipping, refining, power generation markets.
Quadrise announces that it has been notified today by
International Energy Group AG ("IEG") that IEG has today disposed
of its 3.87% interest in the Company, by way of a distribution of
IEG's entire remaining holding of 32,943,515 ordinary shares of 1p
each in the Company ("Ordinary Shares") to IEG's own underlying
shareholders (the "Disposal").
As first announced by the Company on 11 September 2014, IEG
previously advised the Company that IEG was undertaking a phased
process intended to lead to the dissolution of IEG by year end 2016
which would result in IEG's entire holding in QFI being distributed
to the underlying shareholders of IEG.
Under the Disposal, 2,779,026 Ordinary Shares have been
distributed to Lucrone Investments GmbH for nil consideration, a
company in which Hemant Thanawala, the Company's Finance Director,
has a beneficial interest.
As a result, Mr. Thanawala is now beneficially interested in a
total of 31,039,579 Ordinary Shares, representing 3.64% of the
Company's issued ordinary share capital.
The notification below, made in accordance with the requirements
of the Market Abuse Regulation, provides further detail.
For further information, please contact:
Quadrise Fuels International Plc
+44 (0)20 7031
Mike Kirk, Executive Chairman 7321
Hemant Thanawala, Finance Director
Jason Miles, Chief Operating Officer
Nominated Adviser
Smith & Williamson Corporate Finance
Limited
+44 (0)20 7131
Dr Azhic Basirov 4000
Ben Jeynes
Katy Birkin
Broker
Peel Hunt LLP
+44 (0)20 7418
Richard Crichton 8900
Ross Allister
Chris Burrows
Public & Investor Relations
FTI Consulting
+44 (0)20 3727
Ben Brewerton 1000
1 Details of the person discharging managerial
responsibilities / person closely associated
---- ------------------------------------------------------------------
a) Name Hemant Thanawala
---- -------------------------------- --------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------
a) Position/status PDMR (Director)
---- -------------------------------- --------------------------------
b) 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 -
---- -------------------------------- --------------------------------
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 Ordinary shares of 1p
instrument, type of each
instrument
---- -------------------------------- --------------------------------
Identification code GB00B11DDB67
---- -------------------------------- --------------------------------
b) Nature of the transaction Acquisition of ordinary
shares
---- -------------------------------- --------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---- -------------------------------- --------------- ---------------
GBP0.00 2,779,026
----------------------------------------------------- ---------------
d) Aggregated information N/A (single transaction)
---- -------------------------------- --------------------------------
Aggregated volume
------------------------------------------------- --------------------
Price
------------------------------------------------- --------------------
e) Date of the transaction 26 October 2016
---- -------------------------------- --------------------------------
f) Place of the transaction Outside of a trading
venue
---- -------------------------------- --------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 26, 2016 11:46 ET (15:46 GMT)
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