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Quadrise delighted by response to its open offer

Both of the Quadrise executive directors and two of Quadrise's non-executive directors participated in the open offer,

Open offer

Synthetic fuels firm Quadrise Fuels International PLC (LON:QFI) said its recent open offer received a take-up of 74.8%.

Peel Hunt has been left with the remainder of the shares, as a result of which 46.56mln open offer shares and 23.28mln open offer warrants will be issued.

Mike Kirk, the executive chairman of Quadrise, said the response to the offer had been “very enthusiastic”.

“Having raised gross proceeds of £1.8 million from the open offer, in addition to funds raised pursuant to the subscription and the funding announced on 23 August 2019, Quadrise is now funded to build, in the medium-term, on the substantial progress made in business development activities during 2019."

Quick facts: Quadrise Fuels International PLC

Price: 3.355 GBX

LSE:QFI
Market: LSE
Market Cap: £33.41 m
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