In June the market was told Kevin Ashton was on gardening leave with the release of the following statement.
“Kevin Ashton is currently taking leave of absence for personal reasons. We are supporting Kevin through this period and we are looking forward to his return to work as soon as he is ready. Coverage of his stocks ………..is being temporarily transferred to other analysts.”
This announcement gives the impression the absence is due to issues associated with his personal life rather than Canaccord or Quindell.
Since then KA has updated his Linkedin profile to indicate he has left Canaccord. This is what his profile states about his Canaccord employment.
Canaccord Genuity Group Inc. Employed March 2014 – July 2014 (5 months)
We also know that KA has allegedly been communicating with detractors of Quindell for a while with the blagger stating “speaking to Ashton at length for a good while”.
What can be deduced from this information?
1. Kevin Ashton will not be returning to work with Canaccord.
2. He clearly is not concerned about getting employment with another broker as organisations such as Canaccord, expect their staff to be discrete and respect confidentiality.
3. Canaccord complained about being informed about what happening within Quindell. Was this because Quindell believed they were the source of leaks?
Based on the above you wouldn’t therefore be surprised the agreement between Canaccord and Quindell was terminated.
Are the following coincidences or collusion?
A) Kevin Ashton worked for 10 years for Deutsche Bank. Deutsche bank pulled out of the US Quindell tour at the last-minute. Is this a coincidence?
B) Kevin Ashton went on gardening leave after the failed FTSE placing. Coincidence?
C) KA has allegedly been communicating with a detractor of Quindell for a long while. If this is true is this collusion?
D) Is it a coincidence the Quindell share price collapse happened when KA ‘supporting‘ the company?
E) Is it a coincidence that some of the controversial RNS announcements penned with the help of KA?
Canaccord will not be happy for client confidentiality reasons that the person who provided broker support to Quindell is, if the allegations are true, has and is undermining the business.
Is it possible the original statement provided by Canaccord is an accurate reflection of the current position?
“Kevin Ashton is currently taking leave of absence for personal reasons”.
or is it collusion or coincidence?
Three points of caution about this blog:
A) We only have the bloggers word that KA is saying what he is saying. We have nothing from KA so could be untrue.
B) If KA has been speaking to the blagger for a while, why hasn’t the blagger posted anything before?
C) Moles in my garden live like kings for a while and then pay the price.