Company Announcements

Directorate Change

Source: RNS
RNS Number : 6985J
Quadrise Fuels International PLC
15 April 2020

15 April 2020


Quadrise Fuels International plc

("Quadrise", "QFI", the "Company" and together with its subsidiaries the "Group")


Directorate Change


Quadrise announced in its interim results on 30 March 2020 that, in the context of current macroeconomic circumstances, it has been in the process of implementing cost saving measures. The cost saving measures being implemented will not impact on the Company's ability to continue to operate effectively and the Company remains confident that it can continue to progress key business development activities.  


As part of this process the Board has reviewed its own size and composition and, in support of the cost reduction programme, Bryan Sanderson has offered his resignation as a Non-Executive Director of the Company. The Board has accepted his resignation and he will therefore leave after serving his three-month notice period on 14 July 2020. The Company does not intend to appoint an additional Non-Executive Director until it has progressed to commercial revenues. 

Commenting on this development Mike Kirk, Chairman of QFI, said:

"We have enjoyed working with Bryan over the past year and thank him for his contribution.  The Board felt that it was important to demonstrate a real focus on cost reduction throughout the Group at this time and we thank Bryan for his role in assisting Quadrise with its cost reduction initiatives.


Our long-standing independent Non-Executive Directors, Laurie Mutch and Phil Snaith, have in-depth knowledge of the business and will continue to play a vital role in assisting in the ongoing development of the business." 


For further information, please refer to the Company's website at, or contact 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

Katy Birkin

+44 (0)20 7397 8900

Joint Brokers

Peel Hunt LLP

Richard Crichton

+44 (0)20 7418 8900

David McKeown 

Shore Capital Stockbrokers Limited

Toby Gibbs

Fiona Conroy

+44 (0)20 7408 4090


Public & Investor Relations

FTI Consulting

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 power generation, shipping, industrial and refining industries.


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