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Quadrise Fuels Intnl - Issue of Equity

RNS Number : 2751Y
Quadrise Fuels International PLC
07 September 2020
 

7 September 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 £400,000  of the Convertible Security into new ordinary shares in the Company at a conversion price of 1.7p per new ordinary share, the Company has today issued 23,529,412 new ordinary shares (the "New Ordinary Shares"). An amount of £1,000,000 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 11 September 2020.

On Admission, the Company will have 1,077,430,186 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 1,077,430,186 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.

 

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Quick facts: Quadrise Fuels International PLC

Price: 2.35

Market: LSE
Market Cap: £25.32 m
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