23 Jun 2014 07:00
For release 7am 23 June 2014
Quindell Plc
("Quindell", the "Company" or the "Group")
Issue of shares for PT Health investment
Quindell Plc (AIM: QPP.L), a leading provider of software, consulting and technology enabled outsourcing services to the insurance, telecommunications and other related markets, announces the issue of shares in respect of its investment in PT Healthcare Solutions Corp ("PT Health").
On 31 March 2014, the Group announced within its Preliminary Results that on 28 March 2014 it had agreed the issue of 100,000,000 Ordinary shares of 1 penny each in the Company (the "PT Investment Shares") in respect of its acquisition of a further 23.9% of PT Health, taking the Group's shareholding in PT Health as at that date to 49.9%.
Following the Company's AGM on 19 June 2014 and the approval on that day of the 15 for 1 Share Consolidation, the Company has today issued the PT Investment Shares, being (as amended by the Share Consolidation) 6,666,666 Ordinary shares of 15 pence each.
Application will be made for 6,666,666 new shares to be admitted to trading on AIM, with Admission of the shares expected to occur on 27 June 2014. Following Admission, Quindell will have 419,131,627 ordinary shares in issue. The Company has no ordinary shares held in treasury. The total of 419,131,627 ordinary shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
For further information:
Quindell PlcRobert Terry, Chairman
Laurence Moorse, Group Finance Director
Stephen Joseph, Head of Investor Relations | Tel: 01489 864201 terryr@quindell.com Tel: 01489 864205 moorsel@quindell.com Tel: 01489 864200 josephs@quindell.com |
Cenkos Securities plcJoint Broker and Nominated AdvisorStephen Keys/Bobbie Hilliam
Canaccord Genuity Limited Joint Broker and Financial Advisor Simon Bridges/Bruce Garrow |
Tel: 020 7397 8900
Tel: 020 7523 8000
|
Media EnquiriesRedleaf Polhill Limited Rebecca Sanders-Hewett Jenny Bahr |
Tel: 020 7382 4730 quindell@redleafpr.com
|
Notes to Editors:
About Quindell Plc
Quindell Plc is a provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets being insurance, telecommunications and their related sectors. Quindell enters 2014 with a run rate of gross sales approaching £600 million and approaching £200 million of EBITDA, and has announced new contract wins since the start of 2014 that amount to a further £500+ million due to start during 2014. Our award winning business transformational, software, consultancy and outsourcing solutions are recognised as delivering significant savings and additional sales to our customers every year.
For further information, please visit www.quindell.com