LONDON (Alliance News) - Insurance technology company Quindell PLC said on Monday it will give shareholders the opportunity to vote on changing the name of the business at an upcoming meeting, as it set out the details of its capital return.
Quindell said it has proposed changing its name to Watchstone Group PLC. It did not provide any details on the name change but the move is likely to be seen as a push to distance the business from its troubled past and restore its reputation.
In addition, Quindell said it will return a total of GBP414.0 million in aggregate to shareholders via a capital return, or around 90.00 pence per share.
Shareholders will vote on the proposed change of name and to approve the capital return at a meeting in London on November 26.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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