Quadrise Fuels in open offer to raise c?1m

Quadrise Fuels International is now making an Open Offer to qualifying shareholders of up to 10.12m new shares at 10p each to raise up to about £1.0m .

This was on the basis of one Open Offer share for every 80 existing ordinary shares.

The issue price represented a discount of about 14% to the closing mid-market price of 11.625p per Existing Ordinary Share on 11 October 2016, being the last practicable date prior to the announcement of the Placing and proposed Open Offer.

The Open Offer Shares and the Placing Shares will together represent approximately 6.1 percent of the Enlarged Share Capital (assuming full take up of the Open Offer Shares under the Open Offer).