UK 11:39 Friday, 23 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.
Lets nail this once and for all. The RNS put out by Quindell (QPP) on 5 November 2014 suggesting that Rob Terry had increased his holding in Quindell (QPP) was a lie. Cenkos signed off on that as Nomad. Cenkos issued a note on Friday 7 November 2014 and was lied to by Quindell. I demonstrate why Quindell is lying and explain how Equities First Holdings LLC works. I cite sources which are refered to below. Cenkos needs to come clean on Monday or it is royally in the merde alongside Quenron
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Comments
Jon Pickles
Martin
It does indeed sound exactly like the deal the Quindell directors have arranged. However if you look at FAQ number 1:
“Is there a transfer of ownership?
Yes, the borrower must transfer stock ownership to EFH. At the end of the loan term, EFH returns the same number of collateral value the borrower originally transferred.”
So the Directors’ shares have been transferred to EFH. If this were a normal loan it would be quite sufficient for EFH to register a mortgage charge over the shares. In this case it seems clear that EFH, at the very least, wants to retain the ability to sell the shares.
To me this seems like a slow-motion smash and grab whilst the police direct traffic to give an easy getaway.
Batman
i just find it laughable that however you slice this, this exicitly implies Quindell can’t even lend them some money. They Go to some back street lender in another company. However I don’t think they’re lending the money, I think this is indeed a vehicle to liquidate their stock under the radar
Sweet Karolina
Martin from a US perspective QPP shares are international thus the international FAQ is what is relevant.
Tom not sure where you got the 6% drop from the filing at the link says:
“ or the fair market value of the Pledged Collateral shall be less than 80% of the loan principal amount. “
It also says:
“the halting of trading for three business days of the Pledged Collateral “ a highly likely default mechanism.
The key is to see the actual contract QPP signed.
Diabel
The legal ownership might be with EFH. The beneficial ownership nevertheless however remains with RT on the the basis of a deed of trust. That’s possible.
Mike
Dear share prophets, tw just a few days ago was stating that he was due to announce when not if quindell was going “tits up”. This is the SECOND time he has uttered this. Now, again he says he does not know when this will happen, WTF!!!!. I guess the recent significant director buys have unnerved home. Please, for the sake of your readers, have a word and ask him to deal with facts, not his personal emotions, thank you. IF he wants to state a date, as he has repeated, then say it , do or die, otherwise I am feeling there is ramblings, fumbling and desperation in the air.
Scott Sanderson
“EFH makes market neutral spread trades over the course of the loan life without affecting the stock or security price”
So they clealy don’t sell shares as soon as they receive them as that certainly would affect the SP?!
J.A.
Well, this morning’s QPP RNS puts this one to bed.
1. Rob Terry has transferred shares out, and bought far less shares in. NET DISPOSAL.
2. The LTV value is 67%, that’s even lower than expected.
3. RT misled Cenkos and they’ve had to amend their note.
4. EFH can sell the shares.
5. RT and his chums ‘intend’ to repurchase or use funds for margin calls. Bollocks. It’s a cash grab.
If any further drawdowns are made, Cenkos HAVE to inform the market now, no matter what the intent.
Looks like a bad day for QPP holders, again.