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Opening at 170p after Friday's close of 151p is a pretty good start to anyone's week. Some mild speculation and rumours may be gathering legs. IMGTEC desreve a good break with some of the best IP on the planet in their 'asset book'. ATB, P

Iconoclast If a Chairman says to his shareholders 'I've got better things to do with our money than pay dividends to shareholders', then unwittingly he is saying 'but in return the share price will rise above average market trend'. Unless my eyes and Google/finance deceive me, the IMG share price is one third today of its average or so during Year 2000. The BoD have quite simply failed their shareholders big time. They have often winged one excuse after another such as 'its been a difficult year for everyone ....' or 'order book is good, next year will be a bumper' or 'we had to finance buying MIPS'. 16 years later, what have we got. Shareholders should be proactive here and vote the entire BoD out. They simply don't have a plan that will profitably build the business. And, quite frankly, a plan is very much needed. ATB, P

Laughton, thanks for the post, I thought I was dreaming, no posts for 12 days, unbelievable. If the company can't interest its shareholders it certainly won't interest its potential clients. Todays SP is about one third of the average IMG SP in Year 2000, 16 years ago. Its not just the SP drop, but the loss of interest you may have suffered, and the fact that IMG doesn't do Dividends. ARM were about a £1 at Year 2000, and hovered there for eight years. Since then they rose to around £10, tenfold increase. So IMG dropped three times to ARM's gain of 10 times. Both in the same industry of microelectronics Intellectual Property of microprocessors and graphic controllers plus related small items. Having said that, IMG do have some exciting products, they just need some exciting salesmen. Shingles, recently retired Chairman but in the post for over 17 years, did not believe in Salesman, or dividends, and that could be an underlying pair of contributing reasons for such abject failure. I'll buy again if they go sub-£1. The type of person they need for a new CEO is someone who is currently a Sales Director for 'Winning Microelectronics plc/Inc/gmbh'. Plus sack the BoD and get in some go getters. When is the AGM? ATB, P

PS what baffles me is that no one has made a post since 27th Jan, or there is something wrong with LSE workings, but my computer sees up-to-the-minute posts on other company blogs. Strange.

Hellooooo... Hossein, the CEO has resigned first thing this morning. The SP dropped, recovered, then floated down-ish, so the market can't decide whether this long standing 'leader' deciding to go is a good thing or a bad thing. Unusual. IMG purchased the MIPS powerful microcomputer technology from the USA founding company a few years ago now. The MIPS product and company was built out of Stanford Uni brilliant staff many years ago, and made a big impression within the 'minicomputer' market. Since then, MIPS floundered, as did most mini manufacturers, and lost their way. Along comes IMG and buys up the designs and rights for a few hundred million dollars, many would say cheap. Suddenly the worlds top two microprocessor IP companies live 50 miles apart in the UK. As someone below points out, he bought IMG and ARM shares many years ago and made peanuts on IMG and mega-bucks on ARM. ARM are so globally powerful in the microprocessor market, most 'IP' clients and most investors of cash must think that ARM will crush IMG/MIPS sometime soon. Which would be a shame because the MIPS product is outstanding. But IMG have not a clue how to get the MPU/MCU IP buying market place to believe this. Good technicians and poor management will never overcome a lack of top salesman and strategists. There is only one viable solution - MIPS should be sold to a big powerful global player. The product is so important that it dose not matter if the buyer just buys MIPS, or the whole shebang (IMG). There will be many potential bidders thinking about it right now, and their main concern will be 'can they survive against ARM'? I sold mine at £2.35 when I could see they were not getting MIPS into the market place the way it should be done. ATB, P (a buyer would make the SP rocket, of course)

Rocal Surely everyone on this blog is aware that AIM is at the 'Casino end' of the UK Stock Market? If you don't enjoy the aspect of risk with high win or high lose, why are you here? If Quindell subs fail to attract substantial sales then in theory the price will go down 'a la' S&G (nearly down to 10% of its value 6 mnths ago). Except, the SP is still underwritten by cash even after the 90p/share payment, so the QPP share should not suffer such a dump in value. Conversely, if the Subs achieve some strategic sales, proving product value, then the 98p-90p=8p share value has a chance of rising quite substantially. My gut feel is that the BoD are very likely to 'profile' the companies for sale during 2016 since this industry will become more secure with product consolidation. It is equally possible they will acquire competitors, again to consolidate and over-competition in this fledgling marketplace. Either way, I still have 100% confidence in our BoD to provide the best possible guidance through these choppy waters, and the sale of PSD to S&G for £640m plus extras just proves what amazing skills lie under the BoD's bonnet. ATB, P

lr4850, Merlin Technology plc would be nice. ATB, P

RichGas: I think one can summarise that 2-page document as follows: We intend to throw good money after bad .... ATB, P

£1.5billion has been wiped off the Quindell MC over the last 18 months or so. If the BoD and subsidiaries are going to restore that wealth then they need support. Financial support, time support, management support. The BoD are doing their best to provide that support. They will struggle to restore that MK if they just give away some £half billion in cash. Shareholders have to be realistic here. We want the SP to steadily rise throughout 2016. ATB, P PS I would have gone for lower 1st Refund, more like 75p. II's love to see strong Bank Accounts with strong BoD's.

I think the 90p in 2015, 10p from escrow money end 2016, and possibly a little further payment from NIHL is a well balanced Capital Payout. The share price has hardly moved on this announcement which to some extent indicates good balance. The company is setting out to retain pretty healthy financial strength whilst rewarding shareholders quite well for the PSD Sale. Medium and long term holders should be very pleased because the 'rump' SP after 90p payout will be stronger than, say, if £1.12 was paid in one go before end December. On the much-in-demand Broker Forecast and Company Business Plan, it is likely the BoD wish to issue something that is solid and robust for several years, not being subject to many changes along the route. Stability, predictability. All words that potential II's will like, and if they believe them, then a stronger share take-up should follow. I would expect that the BoD would want to know how the 2015 Financials are going to finish BEFORE issuing forecasts, this seems sensible. It is possible they will more or less know this before the end of 2015. If the position looks clear and strong, early forecast, maybe during Dec 2015. If the position has many awkward and possibly costly strands to resolve and iron out, and the financials do not look strong, expect forecast during Q1 2016. Remember, the BoD are running the business for medium to long term business gain, not short term knee jerk responses. Just some thoughts, ATB, P

Mel on TRAK Definitely doing something right there. Quindell should buy them, they have only got £3m cash to drive £18m Sales, and growing. Must be very well managed company. ATB, P

Looking at the 30th Sept 2015 RNS on the Interim Half Year Accounts, our Chairman says Quindell have been notified of a possible shareholder claim, in two aspects, amounting to a maximum of £18m. However, no aspects of the claim have been identified and an actual claim has not been made. If someone was setting out to blackmail a company, how would it be different? Also, toting up actual and possible figures, and excluding Capital Refund for a moment, the company could have as much as £700m in cash assets by the end of 2015. If the refund is £1/share to 450m-ish shares then Cash-in-Hand at end 2015 could be as much as £250m. You could argue off £50m, depends on some events, but I still feel close to £250m is possible and likely. By end 2015 the subsidiaries would have had the benefit of being part of a group for seven months that is the most cash-rich group on AIM. Again, after a bit of research and IMHO, strong growth in sales could be well underway. It is also possible that a few more 'non-core' subsidiaries may have been sold enabling 100% focus on Telematics Insurance related business. What competitor on the planet can equal this opportunity? We should expect an RNS shortly from the BoD to confirm an EGM in November 2015 to approve a target Capital Refund process (method and amount), normally a minimum of 14 days notice is required. A Court hearing will be attended on 2nd Dec 2015 to sound out if a further (full?) application is viable yet on the Capital Refund actual payout. (This is extracted from Chairman's statement on 30th Sept 2015). My Interim Conclusion is this. After Cap Ref Payout, and at end Dec 2015, SP will be worth over 50p/share in cash alone. If (public) confidence has started to build in our subsidiaries performance, then another 25p to 50p /share should be good. That makes the current share value something approaching £2, against a £1-ish now. I may be an Old Ramper, but all parties have to admit that things are definitely looking up. I'm still going for £4 after 2015 Audit is out, likely April 2016. ATB, P

MJFS The 'legal part' (PSD) was sold end Q1/2015 to Slater & Gordon, an Australian Law firm (ASX:SGH) A sum of about £640m was banked by Quindell at the end of June 2015. The Sale Contract provides for further payments if the NIHL business is successful. Quindell paid off all debts, including all overdrafts. The new BoD have made reasonable commitments to repay substantial sums back to shareholders but delays have arisen when it comes to actual payment. Specific reasons have not been offered but many suspect the SFO Investigation needs to conclude to enable the BoD to remove an unknown liability from the books. All IMHO. Little else is publicly known. The SFO do not do Press Releases on 'work in progress'. ATB, P

Mel, what's happened to your Post? ATB, P

MJFS Easy answer here. Just read some past Posts.

Good morning Mel I had to look it up, for a moment I thought you were saying something rude .... The thing is Mel, the bad times are behind Quindell, good times are appearing on the horizon. Bloggers herein should be far more positive and constructive. All we need now is a bit of (personal) money invested and some time and patience. There isn't going to be a stream of RNS's, ever. That is not the way a business is run. A lot of secrecy is required to outwit competitors and 'enemies'. This BoD is not going to be a soft touch for anyone. Possibly the Quindell subsidiaries will start to use their own web sites for Sales & Marketing releases, but really it is up to them, their own styles of trading. Too much release of Sales Success before the contract is executed always leads to problems, not least giving competitors a chance to unseat the business before you have collected the cash. ATB, P PS I'm retired, but do some microelectronics research. Cockle warmer, I'm speechless .....

The use of telematics in the vehicle (and aerospace + shipping) insurance and security business is a global business. Once Quindell subsidiaries have proven their wares in the UK and North America, the sky is the limit. Have you ever worked in a company where the product is a Software Package enjoying a popular up-take? Cost of manufacturing = £nil. Sales Invoice = £big bucks. Result - fast growth, high profitability, lowish capital underwriting, no WIP rubbish. And broad smiles on The Faithful (Long Shareholders). A little more patience, maybe six months for it all to shine. I always enjoy the start of Spring. ATB, P

js88, I have been saying for six months or so that SP=£2 (incl Cap Repay) by end 2015 and SP=£4 after issue of 2015 Audit around Mar/April 2016 I still think this will happen, maybe slip a bit, that's all. When issues discussed yesterday start to get resolved, suddenly it will all come together. The new BoD behind-the-scenes graft will show their true talents, unhampered by financial ills of the past and encouraged by the telematics/insurance business opportunities and Big Business of the present and future. At heart, I am still Long and a Positive Ramper. ATB, P

happyholder, it is interesting what you say. Some herein have said in the past that the heavy interest of M&G to clean Quindell up and restore it to a credible business, hence SP=£2.17+ becomes reality, is part of the driving force over the last year. It is a very encouraging sentiment, I hope its true. ATB, P

It is customary that non-executive directors are present on the board as professional directors providing experienced and unbiased advice. They are 'contract staff' not permanent employees. They often undergo a special training course about non-exec responsibilities. Other than a nominal sum, they should not be trading in the companies shares. They are likely to be non-exec's on a few companies at a time. Executive Directors, on the other hand, are full time employees and expected to be committed to the company. In general they will not be Directors of other companies unless part of the same group. Owning shares in the company is common, but not always taken up. Being a Director doesn't necessarily mean you are rich with spare cash to invest. My guess is don't expect any share buying by Indro and Mark until at least after the Capital Refund and even then maybe not at all. Some shares are owned by subsidiary Directors and staff, where the issues of Corporate Governance of a Public Listed Company are less strict. ATB, P The Exec Dir's are Indro (CEO) and Mark (CFO).