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Quindell PLC (QPP)

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Friday 25 April, 2014

Quindell PLC

Detailed Response to Speculation

RNS Number : 5155F
Quindell PLC
25 April 2014
 



 

 

Quindell Plc

("Quindell", the "Company" or the "Group")

Detailed Response to Speculation

 

Further to the Company's announcement on 22 April 2014, the Board continues to consider the publication earlier this week by Gotham City Research LLC ("GCR") to be highly defamatory, deliberately misrepresentative and entirely rejects the conclusions that are made. The Board notes the short positions that were taken in the Company's shares prior to the publication by GCR and also the reference in the GCR report admitting to readers that they should "assume that, as of the publication date of the report, Gotham City Research LLC stands to profit in the event the issuer's stock declines". Legal action has already been initiated by the Company against those responsible for what it believes to be a coordinated shorting attack and reports are also being made on this activity to the appropriate regulatory authorities.

 

On 22 April 2014, the Company stated that it would prepare a detailed response to the GCR publication, which contained some 74 pages. The Company continues to work with its advisers and expects to post its response later today.  A further announcement will be made at that time.

 

 

For further information:

Quindell Plc
Rob Terry, Founder and Executive Chairman

 

Laurence Moorse, Group Finance Director

 


Tel: 01489 864201

terryr@quindell.com

Tel: 01489 864205

moorsel@quindell.com

Cenkos Securities plc
Joint Broker and Nominated Advisor
Stephen Keys/Bobbie Hilliam

 

Canaccord Genuity Limited

Joint Broker and Financial Advisor

Simon Bridges

Bruce Garrow

 

 Tel: 020 7397 8900

 

 

Tel: 020 7523 8000

 

 

 

Media Enquiries
Redleaf Polhill Limited

Rebecca Sanders-Hewett

Jenny Bahr 

 

 

 

Tel: 020 7382 4730

quindell@redleafpr.com

 

 

Notes to Editors:  

About Quindell Plc

Quindell Plc is a provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets being insurance, telecommunications and their related sectors.  Quindell enters 2014 with a run rate of gross sales approaching £600 million and approaching £200 million of EBITDA, and has announced new contract wins since the start of 2014 that amount to a further £500+ million due to start during 2014. Our award winning business transformational, software, consultancy and outsourcing solutions are recognised as delivering significant savings and additional sales to our customers every year. For further information, please visit www.quindell.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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