10 Apr 2015 15:01
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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
2 Apr 2015 00:28
BUZZ-Australia's Slater and Gordon rises on Quindell acquisition
** Law firm Slater and Gordon Ltd's shares rise as much as 5 pct, reaching year-high ** Executes agreement to buy Quindell PLC's professional services division ** Confirms its FY15 guidance for existing operations ** Stock third-largest percentage gainer on ASX All Autralian 20
Read more1 Apr 2015 15:52
Quindell shares reinstated after profit clarification
Shares in Quindell were temporarily suspended on Wednesday before the company issued a statement confirming its offloaded professional services arm had contributed a larger proportion of group profits than previously stated. On Monday the AIM-listed group confirmed it had sold the professional servi
Read more1 Apr 2015 13:41
BUZZ-Hedge funds cut shorts on Quindell after unit sale deal
** 3 of the 4 hedge funds holding significant short positions (>0.5%) on Quindell cut their shorts on the stock to less than 0.3% after co agreed to sell its Professional Services Division (PSD)on March 30 ** FCA data as of the close on Mar 30 shows Ennismore Fund Management's net short on
Read more1 Apr 2015 12:56
MEDIA-Quindell shares suspended after error found in deal announcement - The Telegraph
-- Source link: (http://bit.ly/1C7u1NC) -- Note: Reuters has not verified this story and does not vouch for its accuracy
Read more30 Mar 2015 16:45
London close: FTSE snaps four-day losing streak on China hopes and upbeat data
London's Footsie managed to hold on to gains by the close on Monday, snapping a four-day losing streak, as hopes for stimulus in China and strong economic data gave sentiment a boost. The FTSE 100 finished up 0.53% at 6,891.43, though it remains well below its record closing high of 7,037.67 reached
Read more30 Mar 2015 11:57
London midday: Chinese stimulus hopes drive UK stocks higher
UK stocks were in positive territory on Monday for the first time in five days as speculation about stimulus in China buoyed sentiment. Positive economic data also helped the mood in London, with UK mortgage approvals and Eurozone consumer confidence rising more than expected. The FTSE 100 was up 0
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