RNS Number : 4327O
Quadrise Fuels International PLC
01 February 2023
 

1 February 2023

 

Quadrise Fuels International plc

("Quadrise", or "Company")

 

Block Admission Cancellation and Interim Review

 

Quadrise (AIM:QFI), the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, providing innovative lower cost and lower carbon alternatives to fuel oil and biofuels, provides an update in relation to the Company's block admission arrangements (the "Block Admissions").

 

Given that all of the warrants detailed below have now lapsed, the Block Admissions associated with the warrants (comprising all of the Company's Block Admissions) have been cancelled.

 

The Company has made no allotments under the Block Admissions since the last Block Admissions Interim Review announced by the Company on 1 August 2022.  A final Block Admissions Interim Review is set out below:

 

Block Admission Interim Review

 

 

Name of the company:

 

 

Quadrise Fuels International plc

 

Name of scheme:

 

1.    Warrants to subscribe for new Ordinary Shares at a price of 3.532 pence per new Ordinary Share at any time until expiry on 27 February 2022 issued by the Company in December 2019 (the "December 2019 Warrants"). The grant of the December 2019 Warrants was announced by the Company on 29 November 2019 in connection with a Morocco Representation Agreement announced on 6 March 2019.

 

2.    Warrants to subscribe for new Ordinary Shares at a price of 5.78 pence per new Ordinary Share at any time until expiry on 27 September 2022 issued by the Company in September 2019 (the "September 2019 Warrants"). The grant of the September 2019 Warrants was first announced by the Company on 23 August 2019 in connection with a then announced issue of convertible securities by the Company. 

 

3.     Warrants to subscribe for new Ordinary Shares at a price of 7.48 pence per new Ordinary Share at any time until 6 September 2022 issued by the Company in September 2019 (the "September 2019 - Open Offer Warrants"). The grant of the September 2019 - Open Offer Warrants was announced by the Company on 30 September 2019 in connection with an open offer to existing Quadrise shareholders first announced on 9 September 2019. 

 

4.    Warrants to subscribe for new Ordinary Shares at a price of 7.48 pence per new Ordinary Share at any time until expiry on 6 September 2022 issued by the Company in September 2019 (the "September 2019 - Subscription Warrants"). The grant of the September 2019 - Subscription Warrants was announced by the Company on 9 September 2019 in connection with a then announced subscription for new ordinary shares in the Company.

 

 

 

 

Period of return:

From:

31 July 2022

To:

1 February 2023

Number of unallotted securities not issued under the scheme(s) at the start of the period:

1:

2:

3:

4:

Total:

3,000,000

4,900,000

23,273,210

9,050,506

40,223,716

Plus:  The amount by which the block scheme(s) has been increased since the date of the last return (if any increase has been applied for):

1:

2:

3:

4:

Total:

0

0

0

0

0

Less:  Number of securities issued/allotted under scheme(s) during period:

1:

2:

3:

4:

Total:

0

0

0

0

0

Equals:  Balance under scheme(s) not yet issued/allotted at end of period:

 

1:

 

2:

 

3:

 

4:

 

Total:

 

3,000,000 warrants (expired on 27 February 2022)

 

4,900,000 warrants (expired on 27 September 2022)

 

23,273,210 warrants (expired on 6 September 2022)

 

9,050,506 warrants (expired on 6 September 2022)

 

0

 

Number and class of securities originally admitted and the date of admission:

 

1:

 

2:

 

3:

 

4:

 

Total:

 

 

3,000,000 - 5 August 2021

 

4,900,000 - 5 August 2021

 

23,277,519 - 5 August 2021

 

9,050,506 - 5 August 2021

 

40,228,025

Name of contact:

Ian Farrelly, Company Secretary

Telephone number of contact:

+44 (0) 20 7031 7321

 

 

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

 

Quadrise Fuels International Plc


Jason Miles, Chief Executive Officer

+44 (0)20 7031 7321

David Scott, Head of Finance


Nominated Adviser


Cenkos Securities plc


Ben Jeynes

+44 (0)20 7397 8900

Katy Birkin


 

Broker

Shore Capital Stockbrokers Limited


Toby Gibbs

+44 (0)20 7408 4090

Fiona Conroy


Public & Investor Relations


Vigo Consulting

Patrick D'Ancona

Charlie Neish

+44 (0)20 7390 0230



 

 

 

 

Notes to Editors


QFI is the supplier of MSAR® and bioMSARTM emulsion technology and fuels, low-cost alternatives to heavy fuel oil (one of the world's largest fuel markets, comprising over 340 million tons per annum) in the global power generation, shipping, industrial and refining industries.

 

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