29 Jul 2014 07:50
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Don't have an account? Click here to register.Quindell directors snap up £2m of shares
Wed, 05th Nov 2014 14:26
Quindell founder and chairman Robert Terry revealed his confidence in the outsourcing company's future as he and two other directors collectively bought almost £2m worth of shares.Terry, who already owned more than 10% of AIM-listed Quindell, bought exactly 1m shares at an average price of 123.47p, increasing his stake in the firm to 10.69%.Finance director Laurence Moorse bought 50,000 shares at 123p each and non-executive director Steve Scott picked up 525,000 shares at 123.84p per share. Both board members have now increased their stakes in the firm to 0.29% and 1.29% respectively.The directors secured funding for the purchases via a loan facility from Equities First Holdings, a securities-based capital provider for institutional and individual clients, making an agreement that they redeem the transferred shares at maturity when the loan is repaid at the end of the two year term "and it is their full intention to do so".Quindell's share price suffered earlier this year, following harsh criticism from analysts at US-based Gotham City Research, who in April described the insurance technology and personal injury claims group as a "country club built on quicksand".But the company has fought back both in the courts, winning a high court judgement against Gotham, and with recent third quarter results that showed revenues more than doubled.As of 16:00 on Wednesday, Quindell's shares were trading up 4.49% at 130.75p per share - 80% lower than their pre-Gotham attack, where shares were priced around 660p.In a statement issued by the company, Terry said: "As demonstrated by the purchases made by some of the board today and recently by other members of the board and executive team, we believe the current market valuation of the company is materially below its true value. The board remains confident of meeting full year market expectations and of the company's longer term prospects."Elsewhere, Geoffrey Simmonds, CEO of venture capital firm Westside Investments, resigned from his role as non-executive of Fitbug after he sold a quarter of Westside's stake in the wellbeing company, whose shares have rocketed recently.Fitbug's public relations firm said Simmonds "remains supportive" of the company.Top Director BuysQuindell (QPP) Director name: Mr Robert TerryAmount purchased: 1,000,000 @ 123.47p Value: £1,234,700Quindell (QPP) Director name: Mr Stephen ScottAmount purchased: 525,000 @ 123.84p Value: £650,160St Ives (SIV) Director name: Mr Matthew ArmitageAmount purchased: 37,786 @ 192.35p Value: £72,681Quindell (QPP) Director name: Mr Laurence MoorseAmount purchased: 50,000 @ 123.00p Value: £61,500Stobart Group Ltd. (STOB) Director name: Mr John CoombsAmount purchased: 50,337 @ 99.20p Value: £49,934Abcam (ABC) Director name: Mr Murray HennessyAmount purchased: 6,000 @ 408.17p Value: £24,490Top Director SellsRotala (ROL) Director name: Mr Frank Geoffrey FlightAmount sold: 125,055 @ 54.00p Value: £67,530
More News
29 Jul 2014 07:41
29 May 2014 14:15
Fitbug jumps on wearable sales news
Wearable fitness products group Fitbug saw losses increase last year but impressed with sales for the new financial year that were already 60% higher than the whole of 2013. A loss before tax of £2.6m reflected significant investment in new product development and innovation and the strategic decis
Read more29 May 2014 12:04
UK MIDDAY BRIEFING: Kingfisher Dives As It Misses Forecasts
LONDON (Alliance News) - Home improvement retailer Kingfisher is the biggest decliner on the FTSE 100 Thursday after it warned that it expects tougher trading in the second quarter against stronger comparatives, and said its margins had been hit by discounts in its kitchens an
Read more29 May 2014 11:34
CORRECT: UK WINNERS & LOSERS: Kingfisher Leads FTSE 100 Fallers
(Item published at 1209 BST and 1218 BST misstated the surname of Aggreko's interim CFO. The correct version follows.) LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 100 - WIN
29 May 2014 11:18
CORRECT: UK WINNERS & LOSERS: Kingfisher Leads FTSE 100 Fallers
(An item published at 1209 BST misstated the first name of Aggreko's incoming chief executive. The correct version follows.) LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 100
29 May 2014 11:09
UK WINNERS & LOSERS: Kingfisher Leads FTSE 100 Fallers
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 100 - WINNERS
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Smith & Nephew, up 4.1%. Shares in the medical technology company have r
29 May 2014 08:53
Fitbug Upbeat As Losses Widen On Investment Costs
LONDON (Alliance News) - Fitbug Holdings PLC Thursday said its losses widened in 2013, as it continued to invest in its product offering. The provider of online personal health and well-being services posted pretax losses of GBP2.6 million for 2013 compared with a GBP1.5 million loss in 201
Read more29 May 2014 07:25
UK MORNING BRIEFING: Kingfisher Shares Fall 5% Amid Firm Open
LONDON (Alliance News) - UK shares are higher at open Thursday, ahead of some US economic data later in the day.
B&Q and Screwfix owner Kingfisher is leading FTSE 100 fallers, down 5.4%. Despite showing a strong increase in its retail profit for the first quarte
30 Apr 2014 13:00
Fitbug Agrees Extension To Loans; Secures Additional GBP1 Million
LONDON (Alliance News) - Fitbug Holdings PLC Wednesday said it has agreed an extension to all of its loans from NW1 Investments Ltd and Kifin Ltd, while securing an additional loan of GBP1 million. The AIM-listed provider of online personal health and well-being services, said it has agreed
Read more23 Apr 2014 11:40
UK MIDDAY BRIEFING: Associated British Foods Soars On Profit Boost
LONDON (Alliance News) - Associated British Foods said Wednesday profit for the first half of the year increased, driven primarily by sales at its low-cost fashion retail chain Primark, which more than offset a substantial hit to its sugar business.
The food, ingred
23 Apr 2014 10:41
UK WINNERS & LOSERS: Iofina Share Price Halved By Production Outlook
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.
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FTSE 100 - WINNERS
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Associated British Foods, up 8.9%. The food, ingredients and retail group r
23 Apr 2014 09:57
Fitbug Appoints New Chief Executive, Inks US Sales Agreement
LONDON (Alliance News) - Fitbug Holdings PLC said Wednesday that it had scored former Bloomberg LP London head Malcolm Fried to succeed its departing Chief Executive David Turner with immediate effect. The wearable technology company also announced that it had signed an agreement with Griff
Read more23 Apr 2014 07:38
UK MORNING BRIEFING: ABF Gains Despite Repeating Sugar Price Warning
LONDON (Alliance News) - UK shares are flat to higher Wednesday following a firm close in the US.
Several UK blue-chips and mid-caps - including Reed Elsevier, ARM Holdings and MoneySupermarket.com - sought to provide reassurance a
26 Mar 2014 16:32
Fitbug agrees distribution agreements, appoints sales director
Shares in wearable personal health technology minnow Fitbug jumped on news of new distribution deals. The company has sealed deals with six retail distribution partners, providing coverage in most of Western Europe, Russia, South Africa, much of South East Asia and Australasia. The AIM company has
Read more