29 May 2015 11:47
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Don't have an account? Click here to register.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.
More News
29 May 2015 11:42
Quindell pledges "£1 per share" capital return after review finds "aggressive" accounting
An independent review into accounting practices at Quindell's disposed legal claims business found they were at "the aggressive end of acceptable practice", as the company finally completed the deal and said it expected to return more than £1 per share from the sale. Shareholders and regulators of b
Read more29 May 2015 05:17
28 May 2015 16:27
22 May 2015 08:57
Quindell given FCA approval for Slater & Gordon deal
Quindell has received the final regulatory go-ahead to complete the sale of its professional services division to Australian law-firm, Slater & Gordon in a deal worth £700m. Approval for the deal has been granted by the Financial Conduct Authority, meaning the disposal is now unconditional and compl
Read more22 May 2015 07:47
BUZZ-Quindell Plc: Up on financial watchdog approval for unit sale
** British IT outsourcing and consultancy firm Quindell's shares up 2.3 pct after co says Britain's financial watchdog approves deal with Australia's Slater & Gordon Ltd ** Co says disposal of its professional services division, which provides legal, claims management, health and medical r
Read more22 May 2015 04:02
BUZZ-Australia's Slater and Gordon up on regulatory approval for Quindell unit buy
** Slater and Gordon Ltd rises as much as 2.1 pct to highest since May 19 ** UK's Financial Conduct Authority approves acquisition of professional services division of Quindell PLC ** Consumer law firm says transaction will deliver "significant value" to all its shareholders **
Read more20 Apr 2015 07:26
20 Apr 2015 05:39
19 Apr 2015 14:46
Quindell receives takeover approach, sources claim
Quindell received a takeover approach for its telematics business from Tantalum, a company connected to City financier Edmund Truell, reports said late on Friday. The telematics business, which monitors motorists as they drive, now makes up the majority of the AIM-listed group following the decision
Read more17 Apr 2015 14:30
Quindell shareholders approve Slater & Gordon deal
Shareholders in Quindell on Friday voted to approve the £700m sale of the company's "no win, no fee" personal injury business to Australian law-firm Slater & Gordon. The deal still remains conditional on approval of both the UK Solicitors Regulation Authority and the Financial Conduct Authority. On
Read more