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

Davide Serra, the chief executive of the hedge fund Algebris who has advised the British government on banking, made repeated defences of Mr Terry since the short selling research group Gotham City published a report attacking Quindell’s accounting in April.

Mr Serra, who met Mr Terry on several occasions, said in June after the UK Listing Authority blocked Quindell’s admission to London’s main market that he had conducted exhaustive research and due diligence into the company.

***“There is nothing that concerns me, and everything can be explained,” Mr Serra said, adding defiantly: “We expect significant cash flow by 2015. Then we will see who is right”. ***

http://www.ft.com/cms/s/0/8c1a04c6-6f25-11e4-8d86-00144feabdc0.html?siteedition=uk#axzz3JMrUyo00

and the market says
what a load of garbage


sp has steadied today, and i did not change my share position

gl on your short cynic - full respect - i have gone long - next few days important either way:

November 18, 2014 Greets Uncategorized

Quindell PLC issued an RNS this morning announcing the resignation of Rob Terry as Chairman of the Quindell Group. Mr Terry will however continue working with the Company as a consultant.

Steve Scott is also leaving the company immediately and Laurence Moorse is leaving once an orderly handover has been completed.

see: http://www.londonstockexchange.com/exch … 9GBGBXAMSM

But will the Rob Terry Announcement be a Positive move for Shareholders?

The company has been the subject of a vicious shorting attack over the last 6 months with the share losing 80% of its value and the chairman subject to a virulent smear campaign on the internet and social media.

It is thought is these changes will be seen as a positive move by some city institutions, one that will put the matters to rest and attract new institutional investors.

Rob Terry and his Directors have been asked to step down for one reason – it’s in the best interests of the company and shareholders.

Once the dust settles and investors realise this is a positive development it will be seen as a turning point in the future of the company.

This mornings RNS can be seen as a positive move by the business for the following reasons:

1. The Financial Director would not be remaining in his post if he had any reservations with regard to the companies operating figures.

2. The Directors leaving the company are all implicated in the controversial EFH deal. This is a clear message that the governance of the business is robust.

3. Clears the way for the appointment of a high caliber Chairman respected by the city.

Our view is that his resignation will do much to appease the doubts of many in the City – the decision provides a new baseline for the company to build on its track record of growing the business; growing earnings; growing margins and profits; and returning shareholder value.

In the coming months we fully expect to see:

o An improvement in sentiment towards the company.

o News of new contracts in Canada and the USA o A reduction in Short Positions.

o News of a market listing in North America.

o Further institutional investment.

o Positive Cash generation exceeding market expectations.

o Impressive year-end trading results that exceed forecasts.

o Re-rating of the share price.

Audited Year-End results for 2014 are due by the end of March and a Pre-Close Statement expected by early January. It is expected that these will exceed all market expectations and will signal a rapid share price re-rating to reflect the real value of the company.

Don't know if i'd want to be in this either way now short or long , this to me is a complete gamble .

Really fascinating manipulation of stock though....allegedly. It seems pretty tricky to understand.
Person A gets a loan (a non-recourse agreement) using his stock as collateral, but at a discounted price.
The value of the stock is already dropping, so he buys more shares with the money.
The company who granted the loan see the value of the stock dropping, so they sell the collateral.
The stock drops further, so Person A is now in a position where he cannot repay the loan, defaults on a margin call and intends to walk away.
The lender doesn't have the stock to return to the borrower, but has already hedged by selling, but could buy more stock at a much lower price, if necessary. Win, win for them.
Did the borrower know that he would be better off without the original stock and why wasn't it declared as a sell?
Was there collusion in forcing the stock lower, thus enabling all parties to buy lower, in anticipation of the stock increasing in value over time.
The worrying thing is it seems that there are a number of known directors in other UK listed companies doing the same thing.

Article in todays FT,you need to reguster.

http://www.ft.com/home/uk

http://www.ft.com/cms/s/8c1a04c6-6f25-11e4-8d86-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F8c1a04c6-6f25-11e4-8d86-00144feabdc0.html%3Fsiteedition%3Duk&siteedition=uk&_i_referer=http%3A%2F%2Fwww.ft.com%2Fhome%2Fuk#axzz3JUrVENXv

here's the article for you ..... i'ld normally prune it to make it more readable, and may do so later, but meantime ......



November 18, 2014 5:03 pm
City high-flyers staked reputation on Quindell
Miles Johnson and Henry Mance

TOM DOBELL, Fund Manager, M&G Recovery Fund. Pic taken at Prudential offices, Laurence Pountney Hill
Tom Dobell regrets backing Quindell founder
Rob Terry’s exit from Quindell has called into question the judgment of several high profile City fund managers who repeatedly defended the entrepreneur.
Investors have been left sitting on hundred of millions of pounds in paper losses, after Mr Terry’s plan to take the business to the FTSE 250 disintegrated amid shortselling attacks and share dealing controversy. Tom Dobell, the manager of M&G’s flagship £5bn Recovery Fund, admitted he “had made a mistake” backing Mr Terry as it emerged he had also invested in the Quindell founder’s previous venture Innovation Group, which also resulted in large losses for shareholders during last decade’s dotcom boom.

Mr Dobell earlier this year defended Mr Terry as “hard working and capable” following a publication of a report by the short selling research group Gotham City attacking Quindell’s accounting in April. He dismissed Gotham’s research at the time.
Mr Dobell, who has now twice made large losses investing in Mr Terry’s ventures, both of which saw a similar story of stratospheric share price rises followed by a brutal reversal and Mr Terry’s resignation, told the Financial Times that he now regretted backing the Quindell founder.
“It appears at this point we made a mistake but this is still a business that is a going concern,” he said. “Institutional investors are often criticised for cutting and running but we worked closely with Quindell to improve governance”.
Davide Serra, the chief executive of the hedge fund Algebris who has advised the British government on banking, made repeated defences of Mr Terry since the short selling research group Gotham City published a report attacking Quindell’s accounting in April.
Mr Serra, who met Mr Terry on several occasions, said in June after the UK Listing Authority blocked Quindell’s admission to London’s main market that he had conducted exhaustive research and due diligence into the company.
“There is nothing that concerns me, and everything can be explained,” Mr Serra said, adding defiantly: “We expect significant cash flow by 2015. Then we will see who is right”. Mr Serra declined to comment on the news of Mr Terry’s exit from Quindell.
Polygon, another UK hedge fund, held a stake in Quindell and wrote to its investors after the Gotham City Research report was published that it was confident Mr Terry would not repeat the management style that preceded a more than 90 per cent share price drop in his previous Aim market venture, Innovation Group.

Davide Serra
“[W]e believe that Robert Terry and his team have learnt from previous mistakes,” the hedge fund wrote in May of this year. Polygon declined to comment.
The repercussions from Quindell have not been restricted to its investors, with shares in Cenkos, the small London broker that serves as the company’s nominated adviser, falling sharply.
The broker, whose job was to help Quindell meet its requirements to investors as a listed company, is facing scrutiny over why Rob Terry misinformed the market, both in 2013 and 2014, about the precise nature of complex financial arrangements.
Cenkos shares tumbled nearly 10 per cent on Monday – underlining the turmoil caused by its association with Quindell. Canaccord, Quindell’s joint broker since 2013, resigned in October.
David Currie probably didn’t expect such a violent rollercoaster when he joined Quindell’s board in July 2014. But the former head of investment banking at Investec was forewarned, having advised Innovation Group, Mr Terry’s previous venture, during its ill-fated acquisition spree between 2000 and 2002.
A former rugby player and occasional triathlete, his immediate task is to find a full-time replacement for Mr Terry. But he also has to assuage the ousted chairman, who remains the company’s biggest shareholder and close to several executives.

Mr Terry, now a paid consultant at Quindell, held a client meeting on Tuesday and will be particularly involved in the telematics business.
Jim Durkin scored a big win earlier this year, when Cenkos advised on the flotation of AA, run by his friend Bob Mackenzie. But now his brokerage finds itself facing tough questions for its role as Quindell’s nominated adviser since January 2012.
Cenkos stood by Mr Terry when he misinformed the market, both in 2013 and 2014, about the precise nature of complex financial arrangements.
The brokerage is famed for its ability to distribute stock. Its private clients increased their investments before and after shortsellers Gotham City Research’s dossier of allegations.
Cenkos’s shares tumbled nearly 10 per cent on Monday. Canaccord, Quindell’s joint broker, resigned in October.
Gotham City meanwhile resisted crowing about Mr Terry’s resignation on its Twitter account, only noting that the Quindell founder had acknowledged there would now probably be a margin call on the shares he had used as collateral for a loan in a deal that precluded his departure.
Cenkos did not immediately respond to a request for comment. Mr Terry declined to comment.

meanwhile share trading here remains remarkably quiet and stable

aye cynic and i cant even watch it or other shares thanks to mam being permanently flaky lol

Down another 8% so far today, so unless short, not much to watch anyway!

The London Stock Exchange is starting an investigation into Monday's 19% fall in the share price of insurance outsourcer Quindell, The Telegraph has reported. "The probe comes as it emerged that Quindell founder and former chairman Rob Terry is sitting on £5.9m in cash from a complex share deal which has unnerved investors," the paper said.

cheers harry and good post last night

yep terry has a history of doing this - imo he should be barred from being able to do this ever again

still makes for opportunity though so maybe not lol

i remain surprised that sp is as stable as it is today .... shall just maintain current short have banked a juicy 50% a couple of days back

Came across this.

re Dobell

"In April he defended the company when it was the subject of a speculative attack by Gotham City Research in the US. At the time he said he was working with the company and praised Terry as a 'hard working, capable chief executive'.

Quindell isn't the first time that Dobell has backed one of Terry's ventures. He previously backed InnovationGroup, which fell from grace during after the dotcom bubble burst."

Not a great track record. It is a pity for QPP shareholders that Mr Dobell didn't parachute in some worthy NEDS to keep Rob Terry in check.....

well done shorting cynic - seems to be no end to the red here - will it go all the way down to 0 lol

Well done cynic, these are less than 3p old money, lowest I've seen. Do you think the LSE would suspend trading in QPP?
2517

don't know but there's no obvious reason why they should
i wonder if i'ld have shorted further had i not been playing golf .... probably not, but i'm certainly quite a happy bunny despite only holding a fairly modest position

George yes.

See this...............

EXCLUSIVE: National Accident Repair – Quindell begging for someone to buy its stake – cash clarification needed NOW – DEATH IMMINENT
By Tom Winnifrith, The Sheriff of AIM | Wednesday 19 November 2014

http://www.shareprophets.com/views/9063/exclusive-national-accident-repair-quindell-begging-for-someone-to-buy-its-stake-cash-clarification-needed-now-death-imminent