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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.
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29 Jun 2015 06:09

Slater & Gordon confirms UK accounting errors, regulator probe

SYDNEY, June 29 (Reuters) - Australian law firm Slater & Gordon said on Monday it was being investigated by the Australian Securities and Investments Commission (ASIC) over errors in its reporting of UK cashflows, sending its shares down 26.4 percent. Slater & Gordon said it had started its

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25 Jun 2015 10:31

CORRECT: WINNERS & LOSERS: Ex-Dividend Companies Weigh On Indices

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25 Jun 2015 10:15

WINNERS & LOSERS: Ex-Dividend Companies Weigh On Main London Indices

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25 Jun 2015 07:12

Imaginatik Shares Up As It Says Rob Terry Increases Stake Beyond 4% (ALLISS)

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24 Jun 2015 13:44

TIMELINE-Once a market high-flyer, Quindell falls from grace

June 24 (Reuters) - Britain's financial watchdog launched an investigation into the public statements of Quindell Plc's financial accounts during 2013 and 2014. Following are details of what has been a tumultuous year for the IT outsourcing company. Key events: April 2014- Quin

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24 Jun 2015 10:14

TOP NEWS: Greek Prime Minister Tsipras In Crisis Talks In Brussels

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24 Jun 2015 09:17

UPDATE 1-UK watchdog to investigate Quindell's accounts

(Adds details, background) By Noor Zainab Hussain June 24 (Reuters) - Britain's financial watchdog has launched an investigation into Quindell Plc's public statements regarding its financial accounts, dealing another blow to the beleaguered technology and outsourcing company. Th

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24 Jun 2015 08:53

BUZZ-Quindell: FCA steps in, stock suspended

** Quindell shares suspended as FCA confirms an investigation into troubled company's financial statements ** FCA investigation latest development in a more than year long saga that began in April last year when Gotham City Research raised question marks over the company's profits **

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24 Jun 2015 08:24

Quindell under investigation from FCA

Software and consultancy group Quindell is under investigation from the Financial Conduct Authority, the company revealed on Wednesday. In a short statement, the London-listed group said it will co-operate "fully" with the probe, which focuses on "public statements made regarding the financial accou

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24 Jun 2015 08:15

UPDATE: UK Financial Conduct Authority Investigates Quindell Accounts

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24 Jun 2015 07:33

Quindell says FCA investigating historical financial statements

June 24 (Reuters) - Quindell Plc said Britain's financial watchdog had begun investigating the technology and outsourcing company's public statements regarding its financial accounts during 2013 and 2014. The company said the FCA had commenced investigations under the Financial Services and

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24 Jun 2015 07:31

LONDON BRIEFING: Broker Notes Move Shares As Market Awaits EU Summit

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24 Jun 2015 07:08

UK Financial Conduct Authority Launches Investigation Of Quindell

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23 Jun 2015 11:12

LONDON MARKET MIDDAY: Wall Street To Follow Europe And Asia Higher

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23 Jun 2015 10:44

REPEAT: WINNERS & LOSERS: Ladbrokes Leads FTSE 250 On Merger Talks

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