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Jad if the sfo find that qpp.and no matter who was incharge bod wise.then ylf class action cannot fail.it wont fail.if sfo find things thenbevery legal firm will jump on wagon...there must be 10s of thousands harmed by qpp.even you lot ifvyou held yrs dating back the sp was then manipulated so every one lost out.i hope sfo fine the lot mr terry must be found guilty he was selling out on us while rns saying other things...just you lot start worrying if when sfo desl out fines.this is my point i cant see a judge letting any money be dished out theres to much going on.especially my short thats screaming 90p
I am not sure they are in a closed period as information about capital return has been issued in public domain.
Well to make the comment you must have a solution in mind otherwise it is a redundant and unnecessary comment to make. So, what do you expect them to do in this case?
Didn't say anything is wrong just made comment they have not invested in company.
That is good news surely? I certainly hope they haven't been buying any shares as it would be illegal. The new BoD will be party to price sensitive information which will preclude them from purchasing any shares at the moment. They wouldn't wish to be embroiled in an FCA investigation of their own would they? For example: If 'internally' (i.e. inside information) the decision has been taken to make a Capital Return of let's say £1.04 per share they couldn't go out and buy shares < £1.04 with this information. Maybe some peeps need to start thinking a bit more logically about the Company overall and what is/could be going on inside that we, Joe Public, are not party to at the moment before jumping off with "..... the Directors aren't buying there fore something must be wrong...."
Probably been asked recently about the New BOD of quindell but I note they have still not pcrchased any shares.
did you put the clock back, or sideways?
Thank you jadwales. The SFO issue must be a pain for Quindell Management, and their approach of 'we take as long as we need, or want' is quite damaging to a business. A few months ago I stupidly believed that their requests and investigations would be resolved by now. The reason for believing in a quick result is based on poor old Quindell Management having just completed the PwC Investigation and a Full 2015 Audit. All necessary paperwork must have still been warm when the SFO knocked on the door. My hope for a quicker-than-normal solution with SFO is also based on The Right Honourable Lord Howard, a Senior Non-Executive Director of Quindell. He has experience of Government Department machinations that must be second-to-none. ATB, P
Absolutely, A_E_M. So why do you allow YOURself to do it? You insult negative posters' intelligence on a regular basis. You refer to us all as trolls etc. You accuse us as being part of a shorting conspiracy without a scrap of evidnce; you've done that only this afternoon. Why do you think these rules apply to us but not to you personally. I'm fairly confident that this post will disappear...but...remember what I said......
Mel PSD brought Quindell to its knees and now its bringing Slater & Gordon to their knees. Why? A gross underestimation of the finance required to handle cases taking longer than planned, and with no guarantee of a pay-out at the end. This is a problem with pay-if-you-win legal practice. When you're losing you just pour in more money to try and win. This type of USA-originated Legal Practice was actually against the Law in the UK until fairly recently, it is a whole new ballgame. It seems to me to be strange that if you ask a solicitor 'what percentage do you win?' he replies 50% over time. But if you ask PSD supporters they assume 100% over time. Cuckoo land. No one in the UK is going to finance such a dodgy business strategy. I for one trust David Currie's instincts on the decision to sell PSD, very smart move. As some pundits commenting on Quindell last year said, 'your business is built on sand .....'. Not any more. ATB, P
Phrontist Just look at the massive debt SGH has arranged. QPP needed a small fraction of that for 18 months. With the new probity types on board, which hedge Fund would not have offered additional £40m lending ( with an interest and equity bonus giving return of 30 %) £13 M cost of banking £150M conribution to profits over 12 years - trivial. £1b market cap - almost certainly. Shorts back off and take profits when weknesses are dealt with. mel
While debating and discussion is fine, we will not tolerate; rudeness, swearing, insulting posts, personal attacks, or posts which are invasive of another's privacy. Read and remember, """.............or posts which are invasive of another's privacy."""
""Are you long term here?"" Again with the personal questions. Stupid Muppet was always asking these.... make your own mind up....
No one knows the potential outcome of SFO investigation yet fash were waiting to find out. I'm not sure if your getting your wires crossed but compensation is being sought by a company called "your legal friend" on behalf of shareholders. I'd keep an eye on the outcome of the SFO investigation first though. Are you long term here?
As you point out Phrontist the SP did indeed hover around 25-30p for sometime -A TOTALLY Irrational market pricing considering the NAV and future prospects of the Company. One day £1 will also look totally irrational. it don't mean a thing. . . . . ATB HH
My understanding is that it was the major investors that removed RT and must have signed off the new board,I for one think that we have actually come a long way from the Terry days and I'm sure the direction will be laid out over the next few months
I like your rhetoric phrontist. I can't disagree with anything you say. I'm sure the serious fraud office outcome won't be kept secret. It's not like quindell is government or any of its branches so I'm sure it will be made public for us all to read:)
"""we have to trust that the board made the only choice possible"" Absolutely!! Quite right and there is no point in speculating. We are where we are because the sequence (of now ancient historical) events that took place actually took place (Well, surprise, surprise). There is absolutely no proof that Quindell would have failed because they chose a different coarse of action. They may have done, they may not... that is the real truth. It doesn't matter a damn now, that is also the real truth. I was and still am against the sale but what the Pfaffin' Hell difference does it make? I've moved on. I wish others would. It is like Wails constantly harping on about the past, no genuine reason I can see. So perhaps a disingenuous one then?
Excellent summery of events makes a change from reading dross,we have to trust that the board made the only choice possible.Could we have borrowed money to see us through having had £200,000,000 via institutional investors who knows.Lets see if the new ceo can dust us down and build again ps I'm sick of seeing sgh adverts on TV it pains me.
Thanks Jadwales. What are the potential outcomes of the SFO? For example, compensation or no offence and case closed? Does each investor have to log a complaint with the SFO first?
Mel I think what happened is this. Coming into 2014, growth of PSD was considerable. RT used this information to inform the public of impending massive growth in Sales and Profits for 2014. SP would remain high throughout the year, even continue to rise well over £6/share. Quindell would issue a second Rights Issue in Summer 2014 to continue financing the growth in business. Company would reach 2015 with good set of Books. SP holds good, everyone is happy. Risky way of doing business, but a successful outcome brushes that under the carpet. Why did this fail? Gotham City 'Report'. After that saga there was no chance Quindell could survive. As for your belief there are people out there that would lend such vast amounts of cash to a company that had covered up the (full) truth, that is for the birds my friend. Some may speculate that Gotham and RT deserve each other and should crash to earth and die. Unfortunately, like most wars, the innocent and loyal shareholders were the ones that suffered. Gotham and RT both seem to have got rich on it. They have our money. ATB, P
Phrontist It somehow was obvious that shorters would pick on the marked increase in debt and drive the SP down. U are right......I rejected the notion of SGH until the shorters had had their evil way. Mel
jadwales Personally, I would like to see a Forensic Accountant produce a Report with all of RT's share ownerships tracked from Day One of this business starting, even going back to the so called 'golf club'. It should be comparatively easy to do since the Share Registrar will have that information. I have no idea how to get hold of it. It is possible that the SFO are at this very minute putting a bit of time into this question for their own deliberations. I hope that they issue a public report for us all to consider. Last November he was accused of using his shareholding as a lever for cash through some USA company, but I have no idea what actually happened. However, the SP did drop to under 30p at one stage and he may have taken advantage of that opportunity. I have no idea, I would like to know. A shareholder is entitled to know what a Director is doing regarding the companies share transactions. Stock Ex Law. I have suggested herein in the past that IF RT has transgressed then his punishment should be forfeitsure of his Quindell shareholding. IMHO that would give an instant 10% to 20% SP rise. If it transpires that RT has done nothing wrong then I sincerely apologise. Muddy waters need clearing to see the tru light. ATB, P
Sorry much lower quantum of finance than SGH had to find. Mel
Fash they take a chunky 40% cut. I don't think there's any upfront cost. I have considered it, but I want to see what the serious fraud office says first. Personally, I definitely think the ex board were way out of order.