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Quindell confirms capital return plans and Watchstone rebrand

Mon, 09th Nov 2015 14:29

(ShareCast News) - Insurance technology group Quindell outlined its capital return plans on Monday and said it was seeking shareholder approval to rebrand itself as Watchstone Group.The company, which is currently being investigated by the Serious Fraud Office (SFO) over its accounting policies, said it will return £414m or around 90p per share in aggregate to shareholders.Following the capital return, in addition to its operating businesses, Quindell expects to retain around £90m in cash.The company, which recently completed an acquisition of a Canadian physiotherapy company, said shareholders will vote on the name change and capital return at a meeting in London on 26 November.Although Quindell did not give any reason for the name change, it is likely the move is an attempt to distance itself from its recent boardroom issues and mixed reputation with investors since a legal battle against New York analyst firm Gotham City.The SFO announced that it was launching an investigation into Quindell after its new management team said in August that the £107m pre-tax profit reported in 2013 had been misstated and the company had actually experienced a £64m loss.Shares in Quindell were up 1.3% to 99p by late afternoon on Monday.
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30 Mar 2015 09:46

MARKET COMMENT: London Higher, Kingfisher Rises As Deal Breaks Down

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30 Mar 2015 08:35

London open: Stocks snap losing streak on central bank hopes

UK stocks were snapping a four-day losing streak on Monday morning as hopes for central bank support repaired sentiment. London's FTSE 100 was up 0.58% at 6,894.60 early on. "The FTSE saw tentative gains this morning as the UK index tried to stall the four consecutive days of huge losses that saw t

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30 Mar 2015 07:58

BUZZ-Quindell: shareholders set to gain as co gets leaner

** The British technology and outsourcing co's shares up 30 pct at 180 pence after it said it would sell its Professional Services division to Slater & Gordon for about 637 million pounds ($944.29 million). ** Shares see heavy volumes with more than a full day's average volume traded in th

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30 Mar 2015 07:35

Quindell sells professional services arm to Slater & Gordon

Specialist UK insurance outsourcer Quindell on Monday announce it is selling its professional services unit to Australian law-firm, Slater & Gordon in a deal worth £700m. Quindell's professional services arm is the largest personal injury legal claims business in the UK and accounts for around 90% o

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30 Mar 2015 07:21

LONDON MORNING BRIEFING: Investors Welcome Kingfisher Move

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30 Mar 2015 07:11

UPDATE 1-Australia's Slater & Gordon buys Quindell unit

(Adds details on deal from Quindell statement) SYDNEY, March 30 (Reuters) - Australian law firm Slater & Gordon Ltd said on Monday it agreed to buy a unit of British technology and outsourcing company Quindell Plc for A$1.2 billion ($928.1 million), in a bid to penetrate the highly fragmen

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30 Mar 2015 05:45

Slater & Gordon To Buy Quindell Unit For GBP637 Million

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29 Mar 2015 22:18

Australia's Slater & Gordon buys Quindell unit

SYDNEY, March 30 (Reuters) - Australian law firm Slater & Gordon Ltd said on Monday it has agreed to buy a unit of British technology and outsourcing company Quindell Plc for A$1.2 billion ($928.1 million), in a bid to penetrate the highly fragmented UK personal injury market. Slater & Gor

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29 Mar 2015 19:26

MEDIA-Quindell nears Slater & Gordon deal - FT

-- Source link: (http://on.ft.com/19wXnhz) -- Note: Reuters has not verified this story and does not vouch for its accuracy

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16 Mar 2015 16:31

Quindell confirms £640m sale talks with Slater & Gordon

Quindell confirmed speculation that it is in talks with Slater & Gordon regarding a possible takeover from the Australian law firm for its legal services business, but denied an offer had been made. According to an article published on the Sunday Times, Quindell is due to recommend a £640m cash offe

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16 Mar 2015 11:58

BUZZ-Quindell Plc: Up on bid rumours

** Quindell shares up as much as 33.7 pct after Sunday Times reports Australian law firm Slater & Gordon is on the verge of sealing a takeover of Quindell's legal services division ** Co says in a statement on Monday that it remains in discussion with Slater & Gordon, confirming that a num

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16 Mar 2015 11:34

Quindell Says Still Discussing Disposal Of Professional Services Division

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16 Mar 2015 10:58

PRESS: Quindell Close To Secure Slater & Gordon Deal - Sunday Times

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13 Mar 2015 12:51

Quindell Issues Shares For Navseeker Stake (ALLISS)

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5 Mar 2015 08:31

UK MORNING BRIEFING: Shares Gain Despite China Growth Target Cut

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