2 Jan 2015 07:00
2 January 2015
Quindell Plc
("Quindell" or the "Company" or the "Group")
Update
As stated on 8 December 2014, cash generation remains a key focus of the Group and initiatives to improve the working capital profile of the Group continue to be pursued. One such initiative was concluded on 31 December 2014. As part of this initiative, Quindell has entered into exclusivity arrangements with a third party in respect of the possible disposal of an operating division of the Group.
In addition to cash generation initiatives that will continue into 2015, the Group is in early discussions with a range of parties interested in exploring possible transactions with the Group relating to a number of its operating businesses.
There can be no certainty that any of these discussions will lead to the disposal of any of the Group's assets.
Regardless of the outcome of the discussions detailed above, the Board remains comfortable with the Group's overall cash position.
Further announcements will be made as appropriate.
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For further information:
Quindell Plc David Currie, non-Executive Interim Chairman Robert Fielding, Group Chief Executive Stephen Joseph, Head of Investor Relations | Tel: 01489 864200 |
Cenkos Securities plc, Nominated Adviser and broker Stephen Keys / Mark Connelly | Tel: 020 7397 8900 |
Bell Pottinger Victoria Geoghegan / Elizabeth Snow | Tel: 020 3772 2562 |