When is Quindell news going to be released?

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.

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3 responses to “When is Quindell news going to be released?

  1. Richard Edwards

    I quite agree.Its presumably one or more ofv the reasons sighted.

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  2. It’s been barely one working week since the EGM regarding the disposal of the PSD and already, the clamour goes out for more news with suggestions about what dangers may be afoot.

    “End of year trading statement. In previous years this information would have been released by now” you say as though this was a typical year. It may have escaped you attention but this is NOT a typical year. This is a year of the most fundamental change for the business and senior management. The new Group management issued an RNS in January to advise that trading in both the PSD (now sold) and the DSD was robust and that management was satisfied with performance.

    We know to expect write downs following the gist of the PWC recommendations that we now know. However, as a Quindell investor, I want good news to follow bad not the other way around as you appear to want. I certainly don’t want it released until after the publication of the annual accounts with the kitchen sink exercise that may follow after the PWC recommendations have been implemented.

    You want to know about the “new structure and branding of the business.” We know the structure with the focus is now on DSD. We also know that work on the rebranding exercise had already started. What do you want them to do? Release that prior to the end of year accounts as well?

    We know the strategy post SGH. We have also been told to expect disposals of non-core assets as part of that strategy and that they are readying the Property Services assets for disposal.

    So may I please give you a word of advice if you are also an investor in Quindell at the present time; stop getting so agitated; have some patience and some faith in the Company, especially at this time of transition, as the new Board gets to grip with the business and the aftermath of a very trying year.

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  3. Regarding you specific question about whether PT HealthCare (Canada) would be considered to be a core asset, I would suggest that the February announcement from the Board concerning its strategic review be studied. It stated that the Group would have two trading divisions, one of which (PSD) has subsequently been sold. The remaining division that is to continue under Quindell ownership is the Digital Solutions Division. More specifically, the DSD comprises insurance software, telematics and telecoms businesses. So, ask yourself how a Canadian healthcare business can fit into solely a digital / telecoms focused business. Is it not the same kind of business as Overland Health which was sold as part of the PSD deal to SGH? I would suggest it is and that the reason it wasn’t included in the PSD sale of assets was due its location and the fact that SGH have no other Canadian interests. Therefore, I would further suggest that PT HealthCare is a non-core business that will be disposed at some future date.

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