Issue of Options and Director Dealing
CEO Peter Borup granted 45.6m share options: 40m sign-on options vesting over two years, 5.6m performance options.
- Sign-on options granted 40,000,000
- Performance options granted 5,625,000
- Exercise price 5p per share
- Total options in issue after grant 111,876,206
- Options as % of issued share capital 5.58%
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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 45,625,000 options to subscribe for new ordinary shares of 1p each in the Company (the "Options") to Peter Borup, Chief Executive Officer in accordance with the Company's Unapproved Share Option Plan 2016 ("2016 Plan") and the Company's Enterprise Management Incentive Share Option Plan ("EMI Plan").
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.
Sign-on Options
The Company has granted a total 40,000,000 Options to Chief Executive Officer, Peter Borup, in accordance with the provisions of the EMI Plan and the 2016 Plan, in the amounts set out below (the "Sign-On Options").
There are no performance conditions to the vesting of the Sign-on Options, which 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.
The Sign-on 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.
| Director | Number of Options | Plan | Exercise price |
|---|---|---|---|
| Peter Borup | 8,000,000 32,000,000 | EMI Plan 2016 Plan | 5p |
| Total | 40,000,000 | - | - |
Performance Options
In addition to the Sign-On Options, a total of 5,625,000 performance share options (the "Performance Options") have been awarded to Peter Borup in the amounts set out below.
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 2016 Plan and will be exercisable from vesting until the eighth anniversary of the date of grant.
| Director/PDMR | Number of Options | Plan | Exercise price |
|---|---|---|---|
| Peter Borup | 5,625,000 | 2016 Plan | 5p |
Total share options in issue
Following the grant of Options, the Company has a total of 111,876,206 options to subscribe for new ordinary shares in the Company in issue, representing approximately 5.58% of the Company's current issued ordinary share capital.
Andrew Morrison, Chairman of Quadrise commented:
"This award of share options to Peter at a significant premium to the current share price demonstrates that Peter's incentives are directly linked to the delivery of our strategic objectives and the generation of long-term shareholder value".
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Peter Borup |
| 2 | Reason for notification | |
| a) | Position/Status | Chief Executive Officer |
| Initial notification/amendment | Initial notification | |
| a) | Name | Quadrise plc |
| b) | LEI | 213800HN2ETG5476U328 |
| 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) | Price(s) Volume(s) Nil 45,625,000 |
| d) | Aggregated information | n/a |
| e) | Date of transaction | 24 October 2025 |
| f) | Place of transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.