Business
Issue of Options and Directors' Dealings
Issue of Options and Directors' Dealings.
About this update from Quadrise Plc
[{"type":"text","content":"\n \nRNS Number : 2659T Quadrise Fuels International PLC 24 March 2016 \n\n24 March 2016 \n \n \nQuadrise Fuels International plc\n(\"Quadrise\", \"QFI'' or the \"Company\")\n \n \nIssue of Options and Directors' Dealings\n \n \nQuadrise, the emerging supplier of MSAR®, a low cost alternative to heavy fuel oil in the shipping, refining, and power generation markets, announces that on 22 March 2016 a total of 2,000,000 options to subscribe for new Ordinary shares of 1p each in the Company (\"Ordinary Shares\") were granted to two directors of the Company in accordance with the provisions of the Company's Share Option Scheme in the quantums laid out below (the \"Options\").\n \nFollowing the grant of the Options, the Company has a total of 31,450,000 Ordinary Shares under option, representing approximately 3.88 per cent of the Company's issued ordinary share capital.\n \n\n\n\n\nDirector\n\n\nNumber of Options granted\n\n\n\n\nJason Miles\n\n\n1,500,000\n\n\n\n\nHemant Thanawala\n\n\n500,000\n\n\n\n\n \nIn accordance with the rules of the Company's Share Option Scheme, the Options are exerciseable at a price of 12.13 pence per Ordinary Share, being the highest of: a) the nominal value of the Ordinary Shares; b) 11.50 pence per Ordinary Share, being the average of the closing mid-market price per Ordinary Share for the 30 dealing days preceding the date of the grant; and c) 12.13 pence, being the closing mid-market price per Ordinary Share on 22 March 2016. \n \nOptions will vest in accordance with the Company's Share Option Scheme on a semi-annual pro rata basis over 24 months. Such vesting to be subject to continued employment and acceptable performance in the period preceding the vesting period. \n \n \n \n \nFor further information, please refer to the Company's website at www.quadrisefuels.com or contact:\n \n\n\n\n\nQuadrise Fuels International Plc\n\n\n \n\n\n\n\nIan Williams, Executive Chairman\n\n\n+44 (0)20 7031 7321\n\n\n\n\nHemant Thanawala, Finance Director\n\n\n \n\n\n\n\nJason Miles, Chief Operating Officer\n \n\n\n \n\n\n\n\n\n \n\n\n\n\nNominated Advis...