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

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
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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

Gotham did a good job. Fair play.

50p by Friday I reckon.

never had a big short position, but have just doubled it up by selling again at 79
this stock is now out of favour big time and could easily collapse further just as blnx did a few months back

there's one hell of a lot of sellers still looking for buyers :-)

Embattled technology firm Quindell is close to probe of directors' share sales

By Peter Campbell for the Daily Mail

Published: 00:35, 12 November 2014 | Updated: 01:23, 12 November 2014

Embattled technology firm Quindell is on the brink of a formal probe over a director share-selling controversy that has wiped millions of pounds from the company’s value.

City watchdog the Financial Conduct Authority is poised to investigate a series of announcements made by the claims processing company over a controversial deal done by a trio of top bosses, according to City sources.

Shares have fallen by more than 40 per cent since last Wednesday as investors have increasingly lost patience with the company’s ability to communicate with shareholders.

Embattled: Investors in Hampshire-based Quindell have experienced a rollercoaster ride over the last couple of years.

Last week the group said that three directors, including founder Rob Terry and long-time business partner Steve Scott, took out a loan to buy more shares.

But after the London Stock Exchange intervened, the company was on Monday forced to admit directors actually sold shares to fund the purchases.

More...

ALEX BRUMMER: Disorderly days at software firm Quindell as shares take another plunge
Quindell faces questions over loans backed by company shares made to senior director
Controversial director share deals hit troubled Aim technology firm Quindell
Quindell shares: Check the latest price here

Since the first announcement last Wednesday – which was designed to spur confidence in the company – shares have fallen by 41 per cent.

Yesterday they shed another 21 per cent on fears that an official probe into the company could begin within days. Shares closed 19.5p down at 75.5p, their lowest since 2011.

The stock has fallen 89 per cent since earlier this year, when the firm’s business model was called into question.

Only after a full investigation would the FCA, which polices wrongdoing among listed firms, decide whether there is a case for directors to answer.

The FCA does not have to announce when it officially begins investigating, and Quindell is only under an obligation to announce it if it believes that the outcome of the probe could have a material impact on the business.

Terry, Scott and finance director Laurence Moorse all sold shares to little-known group Equity First Holdings.

This enabled them to raise money to buy fresh shares in the group. They sold a total of 10.4million shares, but have so far only bought a little under 2m shares using the money.

Yesterday, Terry bought another 50,000 shares under the scheme, on top of the 250,000 he bought on Monday. Terry yesterday refused to speak to the Mail about the arrangement.

Scott has also used some of the money to pay a personal tax bill.

On behalf of the FCA, a spokesman said: ‘We never comment on speculation of enforcement action

50p by Friday.

If the shares are not suspended before then!

lol seems to be recovering a tad
gla

Like em or loathe em there's money to be made with QPP.
2517

According to the Telegraph some of the directors would have been forced to transfer (sell) more shares today as the sp fell below 70p, whether or not they would have to do so immediately or wait until the end of trading, which would suit them of course, remains to be seen!

Your not wrong George - for the brave/stupidskillful trader, there has been a 30% swing available today.

on it's way up,...... buy buy buy

Somebody, somewhere was buying this at £6 which is sad and astonishing at the same time - you hope they had the good sense to get out without too much damage but that is unlikely seeing as they didn't have the good sense NOT to buy it in the first place.