4th Dec 2007 12:16
Quadrise Fuels International PLC04 December 2007 4 December 2007 Quadrise Fuels International PLC ("Quadrise" or "the Company") (AIM: QFI) Conditional Grant of Options by International Energy Group AG The Company has been advised that, on 28 November 2007, International EnergyGroup AG ("IEG") has approved the grant of options ("the Options") over 12million ordinary shares of 1p each in Quadrise ("Ordinary Shares"), from its ownshareholding in Quadrise, to the Quadrise management team. If all the optionsare exercised, the IEG shareholding in Quadrise would be reduced from272,474,515 Ordinary Shares to 260,474,515 Ordinary Shares and the percentageinterest from 59.01% to 56.41%. The granting of the Options will complement the Quadrise management teamcompensation and, specifically, incentivise continuity of service of the expertspecialists which IEG believes is in the interests of all shareholders. One million Options have been granted in recognition of past contribution andwill vest on award. The remaining 11 million Options vest in equal parts on 31December 2009 and 31 December 2010, on condition that the holder is stillemployed by Quadrise on those dates. In keeping with the purpose of the award,the strike price is nominal at 1p per Ordinary Share. Of these Options, three million have been granted to Bill Howe, Chief Executive.As a result, Mr Howe's interest in the Company is 2,079,827 Ordinary Shares and7,000,000 options over Ordinary Shares, representing 0.45% and 1.52% of theCompany's issued share capital, respectively. For further information, please contact: Quadrise Fuels International plcBill HoweCEOT: +44 (0)20 7550 4930 Smith & Williamson Corporate Finance LimitedAzhic Basirov / Siobhan SergeantT: +44 (0)20 7131 4000 Parkgreen CommunicationsSimon RobinsonT: +44 (0)20 7493 3713 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
QFI.L