Awards of options to subscribe for new ordinary shares under the Quadrise Unapproved Share Option Plan 2016 at 1
Quadrise PLC
22 September 2026
22 September 2026
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 manufacturer of lower cost, lower emission, replacement fuels and biofuels for shipping and heavy industry, announces the grant of an aggregate of 35,000,000 options to subscribe for new ordinary shares of 1p each in the Company (the "Options") to directors and employees of the Company under the Company’s Unapproved Share Option Plan 2016 (the ‘2016 Plan’) or Enterprise Management Incentive Share Option Plan (the ‘EMI Plan’), as applicable
The 2016 Plan and EMI Plan are 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 and enabling the Group to preserve cash resources ahead of the commercialisation of the Company’s technology.
Performance Options
A total of 30,000,000 performance share options (the "Performance Options") with an exercise price of 3.5p 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 award of 10,000,000 share options as announced on 13 October 2025 and the award of 5,625,000 share options as announced on 27 October 2025 which have each lapsed unvested due to their specific performance conditions not having been met.
Vesting of the Performance Options will be determined by performance against the Company’s corporate scorecard for the year ending 30 June 2027. Subject to achievement of the minimum performance threshold, 25% of the Performance Options will vest on each of the first and second anniversaries of grant, with the balance lapsing. If the higher performance threshold is achieved, 50% will vest on each of the first and second anniversaries of grant.
The Performance Options issued under the EMI plan will be exercisable from vesting until the tenth anniversary of the date of grant, and those issued under the 2016 plan will be exercisable from vesting until the eighth anniversary of the date of grant.
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Director/PDMR |
Number of Options |
Plan |
Exercise price |
|
Peter Borup |
8,000,000 |
2016 Plan |
3.5p |
|
Jason Miles |
7,000,000 |
EMI Plan |
3.5p |
|
David Scott |
2,500,000 |
EMI Plan |
3.5p |
|
Total |
17,500,000 |
- |
- |
Nominal Value Options
The Company also announces thegrant of a total of 5,000,000 nominal value options ("NVOs") with an exercise price of 1p to the Company’s employees in lieu of an element of cash remuneration for the financial year ended30 June 2026. The NVOs have been granted in accordance with and under the EMI Plan. The NVOs vest six months from the date of grant, have no performance conditions and will be exercisable from vesting until the tenth anniversary of the date of grant.
The NVO grants include the award of 1,000,000 NVOs to David Scott, Chief Financial Officer.
Total share options in issue
Following the grant of Options, the Company has a total of 126,162,045 options to subscribe for new ordinary shares in the Company in issue, representing approximately 5.82% of the Company's current issued ordinary share capital.
The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further details.
Andrew Morrison, Chairman of Quadrise commented:
“The performance options, which have been granted at a premium to the recent Retail Offer price, are intended to incentivise the achievement of the Company’s performance objectives and the delivery of shareholder value. The nominal value options, awarded to employees in lieu of cash remuneration, are intended to support the retention of personnel at an important stage in the Company’s development and further align employee interests with those of shareholders, whilst preserving the Company’s cash resources.”
For additional information, please contact:
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Quadrise plc |
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+44 (0)20 7031 7321 |
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Andy Morrison, Chairman Peter Borup, Chief Executive Officer Jason Miles, Chief Technology Officer
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Nominated Adviser |
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CavendishCapital Markets Limited |
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+44 (0)20 7220 0500 |
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Ben Jeynes George Lawson |
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Joint Brokers |
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Shore Capital Stockbrokers Limited Toby Gibbs,Rachel Goldstein(Corporate Advisory) Fiona Conroy(Corporate Broking) |
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+44 (0)20 7408 4090 |
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VSA Capital Limited Andrew Raca(Corporate Finance) Andrew Monk(Corporate Broking) |
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+44 (0)20 3005 5000 |
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Public & Investor Relations |
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Tavistock Communications Simon Hudson Nick Elwes Saskia Sizen
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+44 (0)20 7920 3150 |
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the UK Market Abuse Regulation.
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
1. Peter Borup 2. Jason Miles 3. David Scott 4.David Scott
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2 |
Reason for notification |
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a) |
Position/Status |
1. Chief Executive Officer 2.Chief Technology Officer 3. Chief Financial Officer 4. Chief Financial Officer
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Initial notification/amendment |
Initial notifications
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Quadrise plc
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b) |
LEI |
213800HN2ETG5476U328
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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
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a) |
Description of the financial instrument, type of instrument and identification code |
Ordinary shares of1 penceeach
ISIN:GB00B11DDB67
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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.
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information |
n/a
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e) |
Date of transaction |
21 September 2026
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f) |
Place of transaction |
Outside of a trading venue |
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