When are we going to get news announcements from Quindell?
Why is the issuing of news being delayed?
Using the Slater and Gordon deal finalization as a reason no longer makes sense. With Quindell shareholders having agreed the deal and Slater and Gordon having raised the funds. I can think of few reasons why Quindell can’t provide their shareholders with information about the following.
1. End of year trading statement. In previous years this information would have been released by now.
2. New Contracts. Business in the past has said it will not announce information on new contracts worth less than £100m. Why can’t Quindell make announcements grouping contracts together to exceed their self-imposed £100m trigger?
3. Broker release regarding the telematics business. Why haven’t current brokers provided this?
4. New structure and branding of the business.
5. North America focus.
6. Deals with car manufacturers
7. Turnover update etc for Q1 2015.
8. Information on what non core assets are being sold.
We haven’t even been issued with a list of what companies, retained after the Slater and Gordon deal will become the core focus of the new Quindell. For example is PT Health considered a core asset?
Other than information about the Slater and Gordon deal it is noticeable shareholders have received very little information in 2015 about the business.
Investors should be kept informed about their business. It is currently impossible to make an informed decision on the prospects for the remaining business due to the lack of information.
How can Quindell expect shareholders to reinvest returned capital when they are being kept in the dark?
We already have Quob Park Estates positioning themselves to possibly put forward an opportunity for Quindell shareholders to reinvest returned capital in another business other than Quindell. Will other businesses do the same?
I can think of three possible reasons why Quindell aren’t releasing information.
1. They don’t want share price in the short-term to reach c£2+ as this could have implications with regard to share warrants.
2. News is bad.
3. Quindell aren’t concerned about keeping private investors informed.
It’s time for Quindell to let their disgruntled shareholders know what’s going on.