UK 14:13 Sunday, 4 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
I have written before how I understand very fully how Quindell (QPP) CEO Rob Terry wants to hang out with those few people who stuck by him after he presided over the near collapse of The Innovation Group. But there are limits and this brings me to some statements issued by Quindell regarding Quindell Property Services (QPA) which just do not stack up. Rob now has very serious questions to answer.
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Comments
ADVFNPrep
Good digging Tom! Shareprophets is definately very educational about AIM.
The extra 6,067,697 shares sucks for investors (additional dilution), but isnt too worrying as it only is ~7% shares more than the ~87M for the acquisition.
The second issue you dug up, however, is far more worrying. Actually, what about the rise in sp of issued shares?66M issued May 3rd would have risen from 13.6 to 17.5 late Dec.
18M issued Sept 2nd would have risen from approx 16 to 17.5 late Dec.
9M issued Oct 21st would have risen from approx 16.3 to 17.5 late Dec.
Total 66M * 3.9p + 18M * 1.5p + 9M * 1.2p = approx £3 million. That roughly matches the £3.2M.
ADVFNPrep
Let me add that IF sp-value of consolidated shares would indeed have been included as “profit”, that would also explain the issue of additional shares. Without these additional shares the 2 Million “profit” would not have been made.
IF all of these assumptions I am making are correct, then perhaps it was initially thought that 66M shares would have been sufficient to make £2M profit. The sp would only have to reach 13.6+(3.2/0.66)=18.45 by late December. Perhaps additional consolidated shares were issued when it was realised 18.45 by late Dec would not happen.
Just a theory of course.
Kind knievil
Tom, I take it these are my bad brothers figures given to you to post, you have trouble with the four different types of cheese. Keep smiling.
rob
WTF are you talking about ADVFNPrep? Shares were issued to the owner, not the business! Increase in qpp share price generating profit for an acquired business – FFS I have never read such unmitigated rubbish.
Original article raises a valid point, shareholders should have been informed of additional share issuance.
wildrides
Yeah ……….. but does it smell like a kangaroos arse ?
some one must know ?
ADVFNPrep
You are right Rob, my comment was pretty dumb. I got too excited by the correlation between sp and that mystery profit.
There is something going on though, on Stockopedia someone called “Heisenberg” recently noticed: “Why is there an apparent close linkage between the underlying valuation of 2 relatively small businesses (at least in terms of their likely financials) and Quindell’s share price?”
And obviously we both know the bet QPP took out on its own share price last year, which resulted in a bear raid (followed by a bear trap I have to add).
Robert Richards
ADVFNPrep, agree something odd about it all.
Was lucky to escape with near 100% profit after the fall. Stupidly punted a bit at 25p, even though I knew I dshould have left it alone, I will learn one of these days!