UK 14:36 Monday, 26 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
On 20th November Quindell (QPP) denied that it was actively seeking to sell its 24% stake in Nationwide Accident Repair (NARS). Market sources tell me that Arden Partners has today placed out the stock.
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Comments
Daniel Victor
Drat – I’d been watching the NARS share price in case Quindell tried to dump them !
gateway
You’re a bit late mate – this has been out on the ‘boards’ for ages.
Tom Winnifrith
BBS not exactly counted as reliable sources – I do not run using them as source only someone who is blue chip
T
Aurelius
‘Dumps’ is the word- 10.9m shares sold at 65p against bid price 83p. Clearly a distressed seller.
AK47
Cheers Tom. Appreciate the information.
Pauly Walnuts
Cost of NARS stake in QPP 2013 accounts = £9.6m.
Amount realised from selling at 65p = £7m.
And the crazy thing is that one suspects history will record this as one of QPP’s better deals. Just a £2.6m bath.
Forty Two
Evogi valued at £9m in the update…. well that’s funny isn’t it? Telematics – woooooot!
Stephen Peel
Isn’t payroll today or tomorrow. I guess they might just scrape through for another month now.
Simon
to be fair they could hardly announce that they were looking to sell as this would have impacted the share price immediately.
T sell a 24% stake in an AIM listed stock in one go a deep discount is not actually unusual.
Sweet Karolina
You will be pleased to know that the placing was not to bucket shops to flip the shares and destroy NARS’s share price, but instead it seems to have been almost exclusively taken up by genuine investors.
Not everything QPP invested in was complete crap – that it why they have actually been able to sell NARS for a relatively small loss.
I am really pleased for NARS shareholders – why should they suffer because their board were prepared to accept a load of QPP confetti in exchange for 25% of the company. And why shouldn’t genuine investors in NARS pick up a bargain thanks to QPP’s fraud and incompetence – somebody has to make money out of this situation other than Rob Terry, his cronies and of course the canny shorters who shorted this fraud from the peak.