Quadrise (AIM:QED), the AIM-listed developer of lower cost, lower emission replacement fuels for shipping and heavy industry, has amended its representation agreement with Younes Maamar, its representative in Morocco.
The addendum extends the deal, first struck in March 2019 and amended in June 2022, to 31 December.
Maamar supports Quadrise in pursuing commercial opportunities for its MSAR fuel technology in Morocco under a success-based incentive structure.
If a signed commercial MSAR fuel supply agreement tied to an active project is publicly announced by the new deadline, Maamar will receive 12 million warrants over new shares.
The exercise price will be set using the average mid-market closing price of Quadrise shares over the five trading days before that announcement.
Once vested, the warrants can be exercised at any point up to 31 December 2027, after which they lapse.
Should the deadline slip for reasons deemed outside Maamar's control, the two sides have agreed to meet in good faith during the week before 15 December to negotiate a new target date.
News Intelligence what this means for the company
Quadrise has extended its Morocco agent agreement through end-December and tied a 12 million warrant grant to signing a commercial MSAR fuel supply deal by that date. The warrant structure—exercise price set at the five-day average closing price before announcement, vesting to end-2027—creates a performance incentive for its representative Younes Maamar, but the deal remains contingent on a signed commercial contract materialising within the extended window.
The extension signals Quadrise is still pursuing Morocco as a commercial opportunity, but the conditional warrant grant underscores that no deal has yet been signed. This fits the company's broader push toward commercial supply contracts; however, the deal remains speculative and the warrant dilution (if triggered) will depend on the share price at announcement.
Insights assembled by AI. Editor-reviewed and grounded in tickstock’s coverage and proprietary knowledge graph.
Content is for informational purposes only, not financial advice.
