Quadrise Fuels International PLC Holding(s) in Company & Director/PDMR Shareholding (5548N)

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 
                                       [phone] 
Mike Kirk, Executive Chairman           7321 
Hemant Thanawala, Finance Director 
Jason Miles, Chief Operating Officer 
 
  Nominated Adviser 
Smith & Williamson Corporate Finance 
 Limited 
                                       [phone] 
Dr Azhic Basirov                        4000 
Ben Jeynes 
Katy Birkin 
 
  Broker 
Peel Hunt LLP 
                                       [phone] 
Richard Crichton                        8900 
Ross Allister 
 Chris Burrows 
 
  Public & Investor Relations 
FTI Consulting 
                                       [phone] 
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)