LONDON (Alliance News) - Insurance technology company Quindell PLC on Friday said it has agreed to settle a tranche of vested share options in cash at a cost of around GBP11.2 million.
The company said the 21.9 million options were settled at a market value exercise price of 99.35 pence. Quindell shares closed at 103.00 pence on Thursday.
The options cover deferred consideration from the acquisiton of BE Insulated (UK) Ltd, a settlement related to Navseeker, a subsidiary of Himex Ltd, a wholly-owned Quindell subsidiary, and the acquisition of PT Health.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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