Member Info for 46Gillingham

Maybe scenereports just asked when is the AGM schedule for. Then that would explain the reply

Hotfinance. Peter has a world class package. Alongside salary and benefits, he received 45,625,000 options at 5p in October 2025, about 2% of the company. Shareholders can accept that level of reward if it delivers results. So far, there has been a lot of noise and very little action

The tripartite agreement was signed in November 2024 (18 months ago), with the clear suggestion that the trial would commence no later than Q1 2025. We are now in May 2026. That is over a 15 months beyond the stated start date with still no trial underway. It beggars belief that we still have no clear explanation as to what is actually holding this up.

Hotfinance, thank you for this post and I completely agree with you.

You have hit on what is perhaps the most scandalous aspect of this whole sorry saga. Every single time the company comes back to shareholders asking for more funding, the justification is always the same the MSC trial is just around the corner. And every single time, it doesn't happen. Yet the money keeps flowing out of the door regardless.

Your numbers are exactly right. Since the MSC framework agreement was signed, approximately £14,400,000 of shareholders' money has been consumed. If nothing has happened by December, that figure rises to £16,500,000. And that is just the running costs it does not account for the opportunity cost of capital that has been tied up in this company for years generating nothing.

What makes this particularly difficult to accept is that shareholders have been remarkably patient and remarkably loyal. We have supported funding round after funding round on the basis of promises that have repeatedly not been delivered. At what point does the board acknowledge that this pattern is not acceptable and that a fundamentally different level of transparency and accountability is required?

I have written to Peter and the board directly on a number of occasions raising exactly these concerns. I would encourage every shareholder who feels the same way to do likewise. The more pressure we apply collectively, the harder it becomes for the board to continue with business as usual.

Yorkie90

Good question always directly to Peter, Andy or Jason

SJS2019

Thank you for your comment. I understand it may not be to everyone's taste, but I make no apology for posting the emails I have sent to the Quadrise board.

My reasons are simple. Firstly, I want fellow shareholders to see that some of us are actively applying pressure on management rather than simply accepting the same recycled updates month after month. Secondly, I want the board to understand that shareholder frustration is not just being expressed privately it is visible, it is documented, and it is being shared openly.

If even a handful of other shareholders are encouraged to write to Peter and the board as a result, then that collective pressure is far more likely to produce a response than any individual email sent in isolation.

I would much rather post something that prompts action and debate than contribute to the endless cycle of regurgitated optimism that has characterised this forum for years while nothing of substance has been delivered.

If others find it useful, all the better. If not, that is entirely fine too.

Second part

The story, to use the words of your own shareholders, has become very boring. Worse than boring it has become a pattern that is actively destroying confidence in the board's credibility and the company's future.

I would urge you in the strongest possible terms to either deliver something concrete and meaningful in the very near future, or to have the integrity to tell shareholders honestly where things actually stand even if that news is difficult to hear.

Nearly four years of waiting and £14,400,000 of shareholders' money later, we deserve better than "soon." When exactly is this all going to change?

I look forward to your response.

Best regards,

Dear Peter,

I wanted to share with you some of the sentiment currently circulating among your shareholder base, as I think it is important that you are fully aware of how your investors are feeling.

The following timeline speaks for itself:

The MSC framework agreement was signed in July 2022, with a planned POC commencement no later than 31st December 2022, followed by an operational trial to provide commercial operating experience. We are now approaching four years since that agreement was signed. Four years. The POC that was supposed to commence by the end of 2022 has still not happened. And at a monthly burn rate of approximately £300,000, those four years of waiting have cost shareholders in the region of £14,400,000. That is an extraordinary amount of money to have spent with nothing commercial to show for it.

On 2nd October 2025, Andy stated that the company had never had such a big pipeline. The last RNS of any real value to shareholders was 17th September 2025. At the AGM in November, you revised the target for the two shipping agreements to January 2026. January came and went. Since then, the only word we have heard from you on timing is "soon." That word has now lost all meaning to your shareholder base.

Going further back, in Q1 2025, Jason informed investors that Q2 2025 would be a busy quarter for news across the projects. Nothing significant has materialised across any of the three main projects since that statement was made.

Over the last twelve months, the business has employed a number of industry professionals, presumably to accelerate progress and add commercial weight to the team. Shareholders welcomed these appointments and hoped they would signal a change in momentum. Yet with not a single commercial project live, we are entitled to ask what additional value are these appointments actually delivering? What tangible difference have they made? The headcount has grown. The costs have increased. The results remain non-existent.

I also note that in all of my recent correspondence with you, I have asked on multiple occasions whether the company has received the $350,000 owed from Valkor. You have not answered this question once. Not once. This is not a trivial matter it is a straightforward question about money owed to the company, and shareholders have every right to know whether it has been received or not. I would ask you, again, to please answer this question directly and without further evasion.

Peter, I want to be direct with you. The pattern that has emerged is deeply concerning. Each update from management appears to be calibrated to tell investors what they want to hear rather than what is actually happening. Targets are set, missed, and quietly revised. The language of "soon" and "imminent" is deployed repeatedly with no delivery to follow.

Meanwhile, the management team continues to draw lucrative salaries whilst shareholders wait month after month, year after year for something of substance to be announced.

T

Has anyone written to Peter, Andy or Jason this week?

Dear Peter,

I wanted to make you aware that I have just posted on the Quadrise LSE shareholder forum, and I feel it is only right that I share the substance of it with you directly.

The sentiment among long-term shareholders is reaching a critical point. For years now, we have heard the same reassurances "nearly there," "soon," "imminent" from different CEOs and different board members. The pattern has repeated itself so many times that it is now seriously damaging credibility.

The financial reality is stark. This company has absorbed over £90,000,000 of investors' money, in recent years majority from private individuals. With a monthly burn rate of approximately £300,000+, shareholders are watching their investment erode month after month with no tangible return.

We still have no clarity on the MSC trial, which was supposed to be imminent five years ago. We have no update on South America. And we continue to receive responses that, while polite, say very little of substance.

I am now actively encouraging fellow shareholders to write to you, the Chairman, and other board members on a more frequent basis to demand accountability and transparency. This is not negativity it is the entirely reasonable expectation of people who have invested significant sums of money in good faith.

I genuinely hope you and the team can deliver something concrete and meaningful in the very near future. The patience of this shareholder base has been stretched to its absolute limit.

Best regards,

Ive also just bough another 1,000 shares

Dear Members, both long-term and new shareholders,

For many years now, all we are seeing week after week, month after month, year after year are regurgitated posts of exactly the same nature. "We're nearly there." "It won't be long now." "It's going to be very active next quarter." And as shareholders, we just keep accepting this. In some instances, when something negative or critical is posted, certain members have the audacity to criticise others for negativity. Perhaps that energy would be better directed at the board.

Maybe what we should be doing now is writing to the CEO, the Chairman, and other board members on a far more frequent basis. Telling them clearly enough is enough. We need action. We need transparency. We need to be kept properly informed about what is actually going on. We are exhausted by the same hollow rhetoric from different members and different CEOs over the years.

Collectively, this company has absorbed over £90,000,000 of investors' money (with no income to show for this), the majority of it in recent years coming from private individuals like you and me not institutions, not sophisticated funds with deep pockets, but ordinary people who believed in this technology and backed it with their own hard-earned money.

We need to understand urgently whether anything is actually going to happen in South America, and if so, when because this company desperately needs to generate some revenue. As for MSC approximately five years ago they signed an agreement with an intent to do a trial. Five years. Is this trial actually going to happen? And if so, when? These are not unreasonable questions.

Let's be clear about the financial reality. Every single month, approximately £300,000 walks out of the door, predominantly on salaries. That's £3,600,000 every year. That's £18,000,000 over five years ( Our money). And what do we have to show for it? More promises. More "soon." More "nearly there."

Although I have valued being part of this forum over the years, and have been criticised many times for speaking frankly, the uncomfortable truth is that all we are doing is regurgitating the same content on this site, year after year, while the board continues largely unchallenged.

It is time to change that. Let's put real, sustained pressure on the board to get these contracts over the line. Let's make them genuinely accountable for what they are or more importantly, are not doing on a daily basis. I would very much like to see something concrete happen and finally get a return on the significant sums I and many others have invested in this company.

The clock is ticking. The money is running out. And the patience of this shareholder base has been stretched to its absolute limit.

Yes every update for the last few years

I agree there’s room for many alternative fuels moving forward, all of which will hopefully be better for the environment than the heavier alternatives currently being used.

However, it’s disappointing that MSC have undertaken a trial with what is clearly a more expensive alternative, and we are still sitting here five years on, waiting for the final signatures on the last few documents.

I think that’s very frustrating for QED and Shareholders, particularly given the amount of time and investment already committed to the process.

No Reply

Hi AKHM,

I agree with you. On my post, I originally 10-20p and decided to change it to just 10p because I thought I would get comments saying I'm suggesting stupid prices. So yeah, I agree with you entirely.

We just need the thing signed and moving forward, and everyone's gonna be happy.

Hi Tuckman,

I agree with your post. We've been in this situation for a number of years now, just waiting and waiting for this life changing RNS announcement. With regards to share price, no one really knows. But I think once we hopefully get the life changing RNS, the share price will consistently go up for a number of trading days. I suspect it will go up more than double.

I also think if the trial is signed off and announced, it will be the catalyst for a number of other deals to move forward. This should all produce great PR and news for Quadrise, and ultimately, I hope some institutions start taking note of the company and invest heavily while the trial is ongoing. Hopefully, some of the risk has been minimized by then.

By the time the trial is complete, I personally would hope the share price is over 10 p.

Barking Crazy, your memory is not to good, please see the company announcement Andy took on Jason duty of CEO for a few months prior to Peter joining......Thanks for being so pedantic

Jason Miles, Chief Executive Officer, will transition into a newly created role of Chief Technology Officer with effect from 1 June 2025. In this capacity, Jason will focus on accelerating the development and deployment of the Company's core technologies, including MSAR®, bioMSAR™ and bioMSAR™ Zero.

In particular, he will take full ownership of the ongoing commercial trials and associated technical programmes and partnerships which are of critical importance for the commercial evolution of the Company. Jason will continue to be a director on the board and will report to a new Chief Executive Officer, whom the Company has commenced a process to identify and appoint.

To enable Jason Miles to focus on his newly defined role, and to provide continuity and leadership ahead of the appointment of a new Chief Executive, Andy Morrison, Chairman of Quadrise, will take on additional executive duties on an interim basis with effect from 1 June 2025. Andy remains Chair of the board of directors.

Whiskyman Keep taking whatever you are taking. You are now filtered. I actually purchased 500,000 yesterday check the log

Vince I sent this to Peter on 30 April. No reply

Good Morning Peter,

I wanted to take a moment to share some candid feedback.

When your appointment was announced, I reviewed your background and felt confident the Board had selected the right person to succeed Andy and move the company’s projects forward. Since then, there has been a noticeable increase in energy and intent, which has been encouraging.

However, we are now approaching seven months into your tenure, and, to date, there have been no substantive announcements across the key projects most notably the MSC trial. The messaging that obstacles have largely been overcome and that progress is “imminent” feels very similar to what shareholders have heard repeatedly in prior years, without delivery. That pattern risks undermining credibility.

Looking ahead, it is difficult to see what will materially change by the end of Q2, Q3, the AGM, or even year-end unless something concrete is delivered. Without that, there is a concern we may continue to hear the same forward-looking statements without corresponding outcomes.

There is also the financial reality to consider. With a monthly cash burn of approximately £250,000–£300,000, around £2 million has been consumed during your time in post. In that context, clarity on progress is critical. At the interim stage, it was noted that invoices had been issued to Valkor can you confirm whether these have now been settled?

Following the interim results, sentiment improved significantly, reflected in the share price moving from approximately 1.5p to 3.5p. That momentum is now fading, with the price drifting back into the mid-2p range a cycle that has repeated several times in recent years.

There is a strong desire among shareholders to see tangible progress and definitive updates across the project portfolio in the near term. Positive developments would materially improve confidence, support the share price, and make future funding considerably easier. At present, however, the gap between messaging and delivery remains a concern.

I appreciate the effort being put in by you and the team, but there is a growing sense that something needs to give in the near future.

I wish you well and hope to see meaningful progress soon.

Kind regards,