Bought in today... have missed out on the impressive gains so far but solid progress is being made here and a good story developing so it looks good for more gains in the near future (imho)....

Quindell Portfolio, the brand extension company, says trading has continued positively in the period under review, building on the strong performance delivered by the Group in the first half.

The company expects to be significantly ahead of market expectations for the 15 month period ending 31 December 2011.

The Group announced back in October that it had won contracts with six established brands and one exciting new digital brand within the insurance, telecoms and utilities sectors, including for the first time, solar energy; and that revenues for 2011 were expected to be ahead of market expectations.

Since then, the Group has won further major contracts with established brands within the telecoms, utilities, on-line education and insurance sectors for both its technology enabled business process outsourcing division and software solutions division.

In aggregate, these contract wins could contribute over £6 million of annualised revenues. In addition, the Group has acquired two further businesses, Maine Finance and, most recently, Mobile Doctors Group Plc.

Margin performance has also been strong and, for 2011, margins are expected to be between 35 and 40 per cent. within its technology enabled business process outsourcing operations

Richard King
‏@ingenie_Richard House of Commons today with @AgeasUK, @SafeRoadDesign and Roads Minister Robert Goodwill MP - on a panel talking young drivers & telematics

Director Share Purchases

at least they've bought good quantities which i guess says something about their belief in the company, even if few seem to share it

Almost 8p old money, despite brokers stratospheric sp targets, QPP remains in the doldrums.
2517

Further re Director Share Purchases and Correction

On 5th November 2014, the Company announced that three directors of the Company, Robert Terry, Laurence Moorse, and Steve Scott ("the Purchasing Directors") had entered into agreements with Equities First Holdings LLC ("EFH") (the "Agreements" or "Agreement" as the case may be) (the "Announcement"). The Announcement stated that the Purchasing Directors had entered into the Agreements to facilitate the initial purchase, in aggregate, of 1,575,000 ordinary shares of 15 pence each in the Company ("Ordinary Shares"). It was announced on 7th November 2014, that a further purchase of 175,000 Ordinary Shares had been made by Bickleigh Ridge Limited, a company controlled by Steve Scott and his immediate family, such purchase also having been financed pursuant to an Agreement with EFH (the "Further Announcement").

Clarification
Whilst the Board of Quindell (the "Board") understands that the Announcement followed a format consistent with announcements made by other AIM companies where directors had entered into similar arrangements with EFH, the Board wishes to provide further disclosure and clarification in relation to the Agreements as referred to in the Announcement and Further Announcement. Terms defined in the Announcement have the same meanings in this one.

Under the Agreement, which is a sale and repurchase agreement intended to provide financing to the Purchasing Directors, the Purchasing Directors transferred the legal and beneficial interest in a number of shares to EFH (the "transferred shares") in return for the Purchasing Directors receiving a payment from EFH of a sum equal to 67 per cent of the three-day average market value per share less a financing arrangement fee of 3 per cent. (the "EFH Purchase Price"). Further details of the transfers made are set out in the table below. As the legal and beneficial holder of the transferred shares, EFH may take any action it deems appropriate in relation to the transferred shares and is under no obligation to hold or retain the transferred shares though it has undertaken not to vote them. In addition, EFH has represented and warranted to the Purchasing Directors that it will not borrow Ordinary Shares for short selling activities and that its broker/ dealer or depository institutions will not engage in any short selling activity with any shares transferred under the Agreement and held on account by them.

On the maturity date of the Agreement (two years from the payment of the EFH Purchase Price), the Purchasing Directors are contractually obliged and have informed the Company that they fully intend to, purchase the transferred shares or equivalent shares from EFH at a price equal to 69 per cent. of the three-day average market value per share applicable at the date of entering into the facility, less margin calls paid, and EFH is required to deliver the transferred shares or equivalent shares to each Purchasing Director on payment.

If, prior to the maturity date, the value of the transferred shares falls to 80 per cent. or less of the value at which they were transferred to EFH, being 67 per cent. of the three-day average market value at the time when the relevant transfer was made, the Purchasing Directors will be required to transfer further Ordinary Shares or provide cash to satisfy margin calls. In the event that any further Ordinary Shares are transferred to EFH pursuant to the Agreements, or any similar agreements are entered into, a further announcement will be made.

Robert Terry, Chairman of Quindell said: "As previously stated and as demonstrated by the initial purchases made by the Purchasing Directors and the fact that the majority of the board has acquired shares recently, we believe the current market valuation of the Company is materially below its true value.

In entering into the sale and repurchase agreements to provide finance, each of us Purchasing Directors relied upon assurances from EFH that, notwithstanding EFH's legal rights, the custom and practice of EFH was that the shares transferred would not be disposed of outright, other than in a default event and will be held by their custodians throughout the term of the agreement, nor would they engage in short selling activity.

We have made this further announcement to ensure the market is aware of the actual number of shares transferred to date under the Agreements. Further announcements will be made when more shares are to be used to fund further purchases of Quindell shares in the future. For clarity, purchasing shares at the current valuation has been the motivation for entering into the Agreements. The Agreements are purely to provide funding for a two year term and I and Laurence intend to use the funds received under the Agreement to purchase Quindell shares and to cover any associated potential tax liabilities and margin calls relating to the Agreements, with Steve Scott intending to do the same and also cover certain other tax liabilities.

The Agreements would not have been entered into if the board did not remain confident of meeting full year market expectations and of the Company's longer term prospects."

whoopsadaisy :-))
and there was me contemplating banking my profits this morning, but shall let it all run

as posted a week ago .....

aldwickk - 03 Nov 2014 12:45 - 1376 of 1384
Why are the broker targets so high then ?

cynic - 03 Nov 2014 13:07 - 1377 of 1384
more importantly, ask yourself why the market doesn't believe them
were i a cynic, i might ask if these brokers are holding swathes of stock and are trying to palm them off on to their clients

I said 50p end of September I could be right.

errr???????
try changing the month :-)

Director Shareholding

The Board of Quindell Plc (AIM: QPP.L) has been informed that Robert Terry has today purchased 250,000 ordinary shares of 15 pence each in the Company ("Ordinary Shares") at a price of £1.0225 per share.
Following this purchase, Mr Terry has an interest 38,050,000 Ordinary Shares(1) with voting rights (representing 8.72% of the issued share capital of the Company) and a total interest in 46,900,000 Ordinary Shares(1), (2) (representing 10.75% of the issued share capital of the Company).
The total issued ordinary share capital of the Company comprises 436,345,424 Ordinary Shares.

(1) Includes Ordinary Shares held as family interests or by virtue of position as beneficiary or potential beneficiaries of certain trusts or companies.

(2) As stated in the announcement of 10 November 2014 issued earlier today, under the agreements between Mr Terry and Equity First Holdings LLC, Mr Terry has agreed to repurchase the transferred shares or equivalent shares at a price calculated by reference to the value at the time of the Agreements at the end of the two year period. For this reason Mr Terry continues to have an interest in these Ordinary Shares and they are therefore included in his total interest in Ordinary Shares.

Director Shareholding

The Board of Quindell Plc (AIM: QPP.L) has been informed that Robert Fielding, Group Chief Executive Officer of the Company, has today purchased 22,837 ordinary shares of 15 pence each in the Company ("Ordinary Shares") at a price of £1.0941 per share.
Following this transaction, Mr Fielding is interested in a total of 1,158,934 Ordinary Shares, representing approximately 0.27% of the total issued share capital.

Robert Fielding, Group Chief Executive Officer, said: "This further purchase of shares demonstrates my confidence in the Company meeting full year market expectations and its longer term prospects."

Comment

the trouble with QPP is that they are forever having to apologise for something, and that is scarcely something to instil confidence in investors

Smoke and mirrors? Too much shuffling about in the petty cash drawer? What is it I wonder that makes this company look more shifty as the weeks go by? Full year accounts will make very interesting reading I'm sure!

Declared short interest has decreased. Looks like some thought the 88p level worth cashing in.

Buys out number sells at the mo for what it's worth.,.

ALEX BRUMMER: Disorderly days at software firm Quindell as shares take another plunge

By Alex Brummer for the Daily Mail

Published: 22:14, 10 November 2014 | Updated: 22:14, 10 November 2014


Fidelity and Prudential must be looking on with distaste at the turmoil in the shares of the insurance software firm Quindell, where they have been cornerstone investors.

Normally when directors borrow money to buy equity in the company they run it is to show confidence in the business model and to strengthen the share price.

In the case of chairman Robert Terry and his cohorts at the Aim-listed company, that boasts the City firms of Canaccord Genuity and Cenkos Securities as its brokers and KPMG as its auditors, the opposite has been the case.
Controversy continues: Fidelity and Prudential must be looking on with distaste at the turmoil in the shares of the insurance software firm Quindell, where they have been cornerstone investor
+2

Controversy continues: Fidelity and Prudential must be looking on with distaste at the turmoil in the shares of the insurance software firm Quindell, where they have been cornerstone investor

Shares in Quindell plunged 19.8 per cent in latest trading following a steep fall last week when the complex share dealings of Terry, his finance director Laurence Moorse and non-executive director Steve Scott were publicly disclosed.

The stock has now fallen by some 85 per cent since its high of 682.5p in April, and investors must be starting to wonder where all this is going to end.


Clearly, the market does not much like what it has seen.

Effectively, the Quindell three have loaned 10.4 million shares to US-based Equities First Holdings for which they received £9million in cash. They have so far reinvested £2.1million in buying more shares.

Terry and Moorse have pledged to use the proceeds of their deal to buy more shares. Scott, the company tells us, will use the cash to pay off a tax bill.

The transaction is complex enough and the Aim regulation team at the London Stock Exchange took the unusual step of seeking a further clarification when the market opened yesterday.

Since the Quindell three made their purchases, transactions in the company’s shares have soared but the price has tanked.

Prior to the purchase, some 3 million - 6 million shares a day were changing hands. On Wednesday last week, the number of shares traded soared to 15.4 million. A further 8.4 million changed hands on Thursday and another 11.5 million on Friday.

The directors, who are there to protect the interests of the company and minority holders, have contrived to create what can only be described as a disorderly market.

When questions about Quindell’s business model were first raised by short-trading specialists Gotham City earlier this year it evoked an angry riposte from the company and a threat of legal action for defamation against those who had the temerity to repeat the criticism.

Quindell boasted that it was ‘outperforming its competitors and delivering a far higher EBITDA margin than its peers’.

The company still maintains that its business model is robust and that it would not have entered into the share sale and purchase arrangements were it not confident of meeting full-year expectations. The last update pointed to revenues of £750million to £800million for 2014.

Maybe, but the peculiar antics of the directors and the market reaction to them do not inspire great confidence.

Quindell could prove to be one of those awkward outfits that the fund managers, brokers and professional advisers should have given a wider berth.

Poor service

How the mighty have fallen.

Heading to default if this sp fall continues.

Would another company make a bid for it ? only if they could untangle the business model with a fine tooth comb