LONDON (Alliance News) - Shares in Watchstone Group PLC, the insurance technology company formerly known as Quindell PLC, resumed trading on Monday, following court approval of a share capital reduction and return of cash to shareholders.
For every 10 shares held in Watchstone, shareholders will receive one consolidated share.
The group is planning to return 90.00 pence per share, or GBP414.0 million in total, from the sale of its professional services arm to Australian law firm Slater & Gordon.
Shares in Watchstone were at 168.00 pence on Monday morning, having touched a high of 198.00p earlier.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.