Quadrise PLC (AIM:QED) has set a year-end deadline for securing a commercial MSAR fuel supply agreement in Morocco, tying 12 million warrants for its local representative to the milestone.
The alternative fuels developer extended its representation agreement with Younes Maamar to 31 December 2026. Maamar supports Quadrise in pursuing opportunities for its MSAR fuel technology in the country.
The warrants will be awarded only if Quadrise publicly announces a signed commercial supply agreement relating to an active project by the deadline. Their exercise price will be based on the average mid-market closing share price during the five trading days before the announcement.
Once vested, the warrants will be exercisable until 31 December 2027. Should the target be missed because of circumstances outside Maamar’s control, the parties will meet before 15 December 2026 to discuss a revised deadline.
