Results of Placing and Subscription
Quadrise Plc has successfully raised £1.2 million through a placing and subscription of 119,000,000 placing shares and 1,000,000 subscription shares at an issue price of 1.0 pence per ordinary share. The company anticipates an additional £1.2 million from a forthcoming retail offer. Directors and Persons Discharging Managerial Responsibilities (PDMRs) participated in the fundraising, with their transactions confirmed as fair and reasonable by an independent director. Admission of the placing and subscription shares to AIM is expected around July 10, 2026.
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Quadrise Plc (AIM: QED), the manufacturer of lower cost, lower emission, replacement fuels and biofuels for shipping and heavy industry, is pleased to announce the successful results of the Placing and Subscription announced on 7 July 2026 (the "Launch Announcement").
The Company has conditionally raised £1.2 million pursuant to the Placing of 119,000,000 Placing Shares and direct subscriptions for 1,000,000 Subscription Shares, in each case at the Issue Price of 1.0 pence per new Ordinary Share.
The gross proceeds of the Placing and Subscription are expected to be supplemented by additional gross proceeds of up to £1.2 million to be raised pursuant to the Retail Offer at the Issue Price.
The Placing Shares and the Subscription Shares will be issued and allotted under the Company's existing authorities obtained at the Company's last annual general meeting held on 28 November 2025.
A separate announcement will be made shortly by the Company in relation to the Retail Offer and shall include its terms and timetable. For the avoidance of doubt, the Retail Offer is not part of the Placing or the Subscription.
Director / PDMR Placing and Subscription participation
The following Directors and PDMRs of the Company have participated in the Placing and Subscription:
| Director / PDMR | Number of Existing Ordinary Shares | Number of Subscription Shares subscribed for | Number of Placing Shares subscribed for | Number of Ordinary Shares held on First Admission |
|---|---|---|---|---|
| Peter Borup | - | 1,000,000 | - | 1,000,000 |
| Tony Foster | - | - | 1,000,000 | 1,000,000 |
| Jason Miles | 10,820,877 | - | 1,000,000 | 11,820,877 |
| Andy Morrison | 4,600,000 | - | 600,000 | 5,200,000 |
| Michael Covington | - | - | 500,000 | 500,000 |
| David Scott | 192,809 | - | 300,000 | 492,809 |
The notifications below, made in accordance with the requirements of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and as modified by or under the European Union (Withdrawal) Act 2018 or other domestic law, provide further detail.
Related Party Transactions
The participation in the Fundraise by Peter Borup, Tony Foster, Jason Miles, Andy Morrison and Michael Covington as Directors of the Company (the "Related Parties") constitute related party transactions for the purposes of Rule 13 of the AIM Rules for Companies.
The independent Director of the Company (being Vicky Boiten Lee), having consulted with Cavendish, the Company's nominated adviser, confirms that the terms of the transaction by each of the Related Parties are fair and reasonable insofar as Shareholders are concerned.
Admission and dealings
Application has been made to the London Stock Exchange for the Placing Shares and the Subscription Shares to be admitted to trading on AIM ("First Admission"). A separate application will be made for the Retail Offer Shares to be admitted to trading on AIM following the closing of the Retail Offer ("Second Admission").
First Admission is expected to take place on or around 8.00 a.m. on 10 July 2026 (or such later date as may be agreed between the Bookrunners, Cavendish and the Company being no later than 8.00 a.m. GMT on 10 August 2026).
The Placing Shares and the Subscription Shares will be in registered form and will be capable of being held in either certificated or uncertificated form (i.e. in CREST). Accordingly, following First Admission, settlement of transactions in the Placing Shares and the Subscription Shares may take place within the CREST system.
Unless otherwise defined herein, capitalised terms used in this announcement have the meanings given to them in the Launch Announcement.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | 1. Peter Borup 2. Tony Foster 3. Jason Miles 4. Andy Morrison 5. Michael Covington 6. David Scott |
| 2 | Reason for notification | |
| a) | Position/Status | 1. Chief Executive Officer 2. Non-Executive Director 3. Chief Technology Officer 4. Non-Executive Chairman 5. Non-Executive Director 6. Chief Financial Officer - PDMR |
| b) | 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: GB00BM9CLS53 |
| b) | Nature of transaction | Subscription for Placing Shares or Subscription Shares |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £0.01 £0.01 £0.01 £0.01 £0.01 £0.01 1,000,000 1,000,000 1,000,000 600,000 500,000 300,000 |
| d) | Aggregated information | n/a |
| e) | Date of transaction | 10 July 2026 |
| f) | Place of transaction | Outside of a trading venue |
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