6 Aug 2015 05:56
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Don't have an account? Click here to register.Quindell plans to return GBP415m to shareholders
Mon, 02nd Nov 2015 11:40
(ShareCast News) - Beleaguered insurance technology group Quindell announced plans to return £415m to shareholders in December following the sale of its professional services division, subject to court approval.The company, which is currently being investigated by the Serious Fraud Office over its accounting policies, said it will repay 90p per share and a further 10p per share in cash following the anticipated release at the end of 2016 of the £50m warranty escrow put in place as part of the disposal.Quindell said that as previously announced, it will make further distributions as contingent consideration from the disposal of the PSD is realised.The company said it has performed a preliminary valuation exercise based on the information available at the point of disposal and has determined that a prudent estimate of the current value of the contingent consideration is around £39.6m.Quindell expects to issue a circular relating to the capital repayment to shareholders on 11 November 2015, with a court hearing to follow on 16 December 2015.At 1150 GMT, Quindell shares were down 2% at 100.25p.
More News
6 Aug 2015 02:18
BUZZ-Australia's Slater and Gordon slumps to 2-yr low on Quindell woes
** Australian law firm Slater and Gordon Ltd falls as much as 19 pct in early trade to its lowest since July 2013 ** Shares fall on concerns after a UK anti-fraud agency launched an investigation against Quindell Plc, which sold its Professional Services Division to Slater & Gordon **
Read more5 Aug 2015 16:23
Serious Fraud Office launches Quindell probe
(ShareCast News) - The Serious Fraud Office (SFO) has launched a probe into Quindell's business and accounting practices. The formal investigation follows the insurance technology and outsourcing company's announcement of a widening of its 2014 pre-tax loss on the back of impairment charges. The gr
Read more5 Aug 2015 14:31
Quindell posts £258m loss, shares to resume trading on Thursday
(ShareCast News) - Quindell, an insurance technology and outsourcing company whose shares have been suspended from AIM for over a month, reported a widening of its 2014 pre-tax loss on the back of impairment charges. The beleaguered company posted a pre-tax loss of £238m for the year ended 31 Decemb
Read more29 Jun 2015 14:29
Quindell's 2014 results to be delayed, shares suspended
Quindell announced on Monday its full-year report will not be published on time. Consequently, its shares have been suspended while the company works "through the oustanding points" to publish the report as soon as possible. The results for the year ended 31 December 2014 were expected to be releas
Read more29 Jun 2015 10:13
29 Jun 2015 06:30