Issue of Share Options and Director/PDMR Dealing
Source: RNS
13 October 2025
Quadrise plc
(the "Company" and together with its subsidiaries the "Group" or "Quadrise")
Issue of Share Options and Director/PDMR Dealing
Quadrise plc (AIM: QED), the technology company focused on the decarbonisation of shipping and heavy industry through deployment of low emission fuels and biofuels, announces the grant of an aggregate of 10,520,000 options to subscribe for new ordinary shares of 1p each in the Company (the "Options") to directors and employees of the Company in accordance with the Company's Enterprise Management Incentive Share Option Plan ("EMI Plan").
The EMI Plan is designed to enable the Company to recruit, retain, and reward key employees of the Group - in doing so aligning their interests with those of the Company's shareholders whilst enabling the Group to preserve cash resources ahead of the commercialisation of the Company's technology.
Performance Options
Of the Options, a total of 10,000,000 performance share options (the "Performance Options") have been awarded to executives and employees of the Company, including awards to certain of the Company's directors and PDMRs in the amounts set out below.
The award of Performance Options follows the 2 August 2024 award of 13,880,000 share options which lapsed unvested on the first anniversary of their grant date due to their specific performance conditions not having been met. The Performance Options will vest as to 50% on the first anniversary of grant and the remaining 50% shall vest on the second anniversary of the date of grant.
All vestings of the Performance Options are subject to the satisfaction of specific performance conditions prior to the vesting dates. The Performance Options are issued under the EMI plan and will be exercisable from vesting until the tenth anniversary of the date of grant.
|
Director/PDMR |
Number of Options |
Plan |
Exercise price |
|
Jason Miles |
3,000,000 |
EMI Plan |
5p |
|
David Scott |
1,600,000 |
EMI Plan |
5p |
|
Philip Hill |
1,500,000 |
EMI Plan |
5p |
|
Total |
6,100,000 |
- |
- |
Nominal Value Options
In addition to the Performance Option award, the Company has also issued a total of 520,000 nominal value options ("NVOs") to certain of the Company's employees in lieu of an element of cash remuneration for the financial year ended 30 June 2025 as part of the Option award. The NVOs have been issued in accordance with and under the EMI Plan. The NVOs will vest after 12 months from the date of grant, have no performance conditions and will be exercisable at a price of 1 pence per new ordinary share from vesting until the tenth anniversary of the date of grant. No NVOs have been awarded to the Company's directors or PDMRs.
Total share options in issue
Following the grant of Options, the Company has a total of 66,251,206 options to subscribe for new ordinary shares in the Company in issue, representing approximately 3.30% of the Company's current issued ordinary share capital.
Andrew Morrison, Chairman of Quadrise commented:
"The issue of performance options at a significant premium to the current share price is designed to provide an appropriate incentive to achieve performance metrics and to deliver shareholder value, whilst the issue of nominal value options to employees in lieu of cash further strengthens alignment with shareholders whilst preserving the Company's cash resources."
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further details.
For further information please contact:
|
Quadrise Plc |
+44 (0)20 7031 7321 |
|
Andy Morrison, Chairman Peter Borup, Chief Executive Officer Jason Miles, Chief Technology Officer
|
|
|
Nominated Adviser Cavendish Capital Markets Limited |
+44 (0)20 7220 0500 |
|
Ben Jeynes |
|
|
Katy Birkin George Lawson |
|
|
Joint Brokers Shore Capital Stockbrokers Limited |
+44 (0)20 7408 4090 |
|
Toby Gibbs, Harry Davies-Ball (Corporate Advisory) |
|
|
Fiona Conroy (Corporate Broking)
VSA Capital Limited Andrew Raca (Corporate Finance) Andrew Monk (Corporate Broking)
|
+44 (0)20 3005 5000 |
|
Public & Investor Relations |
|
|
Tavistock Communications (Financial PR & IR) Simon Hudson Nick Elwes Ruairi Millar |
+44 (0) 20 7920 3150 |
|
BLUE Communications Limited (Marine & Trade PR) Rhys Thomas Sam Deacon
|
+44 (0)7595 227750 +44 (0)7527 558846
|
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the Market Abuse Regulation.
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||||
|
a) |
Name |
1. Jason Miles 2. David Scott 3. Philip Hill
|
||||||
|
2 |
Reason for notification |
|
||||||
|
a) |
Position/Status |
1 Chief Technical Officer 2. Chief Financial Officer 3. Chief Commercial Officer
|
||||||
|
|
Initial notification/amendment |
Initial notifications
|
||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Quadrise plc
|
||||||
|
b) |
LEI |
213800HN2ETG5476U328
|
||||||
|
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 instrument, type of instrument and identification code |
Ordinary shares of 1 pence each
ISIN: GB00B11DDB67
|
||||||
|
b) |
Nature of transaction |
Awards of options to subscribe for new ordinary shares under the Quadrise Unapproved Share Option Plan 2016 and/or the Quadrise Enterprise Management Incentive Share Option Plan.
|
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information |
n/a
|
||||||
|
e) |
Date of transaction |
10 October 2025
|
||||||
|
f) |
Place of transaction |
Outside of a trading venue |
||||||
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
