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Quindell Share Discussion Threads
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The Nostra Terra Oil & Gas CEO Shorting Scandal. FCA Investigating. http://guerillainvesting.co.uk/2016/07/26/nostra-terra-oil-gas-ceo-shorting-scandal/
He has to resign in the mean time he should step down while it's being investigated.|
daniel levi bmd
What about people tweeting positively about SER and hinting good news was coming, the day before they sold their holding, is that also "shocking"?
Or do you think that's OK?|
What a shocker folks!
daniel levi bmd
|was steamy001 the deviant RT himself ?|
This is a super piece by Chris Oil. Get reading it.
'Lord' Chris has spoken!
daniel levi bmd
|Where's El Cid these days?|
|"Quindell's accounting policies were themselves the subject of controversy but Slater & Gordon assured investors that the firm had undertaken extensive due-dilligence with 70 staff reviewing thousands of files. The transaction also included a 'carve-out' agreement that was intended to quarantine the impact of tens of thousands of hearing loss cases originated by Quindell.
With over 300 staff working to resolve these cases, the delays in settling these cases have been a key contributor to the company's precarious financial performance.
"The rate of resolution has been disappointing and has been costing us," Grech told analysts on the earnings call. "|
|""ASIC's inquiries on revenue recognition and WIP focussed on the appropriateness of accounting policies adopted and the testing of WIP estimates and assumptions against historical data."
I.e. SGH, like QPP was guilty of misleading accounting through aggressive revenue recognition (booking revenue and fees before the fact).|
|"Law firm Slater & Gordon has announced a first-half loss of almost $1 billion after it slashed the value of its United Kingdom assets by $814.2 million.
The huge write-down comes less than a year after it paid $1.3 billion to acquire the professional services division of Quindell and has prompted crisis talks with its lenders.
The company said its priority was to cut debt, which has ballooned to $741 million, and that it would reduce staffing in the United Kingdom as it closes certain sites. Slater & Gordon said it would present a restructuring proposal to its banks which may reduce the maturity of their loans to one year.
At 10.30am AEDT, S&G's shares were down 25 per cent at 62.5¢, compared with a 0.5 per cent gain in the benchmark index. Slater & Gordon's shares touched a 52-week low of 54¢ on January 21.
The company said it remained "convinced that the emerging market environment in the UK will make scale at least as important as it has been in Australia in generating earnings".
Chief executive Andrew Grech offered to resign over the poor result, but the board would not accept his offer, deciding he was the best person to help revive the company's fortunes.
Slater & Gordon swung to a net loss after tax of $958.3 million in the six months ended December 31 from a $49.29 million profit in the year-earlier period.
The loss came despite an 82 per cent jump in interim revenue to $479.6 million from $226.9 million in the year-earlier period. Slater & Gordon said it would not pay a dividend.
The company also reported negative net operating cash flow of $83 million and a negative $17.8 million earnings before tax, depreciation, amortisation and work in progress."
|Yes, this speaks volumes about the QLS takeover by S&G last year. I'm wondering what impact there may be on the payments of residual business (escrow account et al) that Watchstone was hoping would come it's way and was this the reason why the much publicised return of capital to Quindell shareholders was reduced from £1 to 90p.|
|numb nuts, you are stupid|
|The Sheriff until it suits him to be the renegade?|
Yes I'm surprised Tom is backing her, she clearly should not have been sending that message out before the news was released to the market, IMO.
The real issue is she didn't put the journos offside! They were free to disseminate, and it seems at least one did just that!
You have to ask if anyone traded on the knowledge?
Looking at her LinkedIn profile, she doesn't look a junior, she must have realised she was crossing the line, surely?
The Goldplat share price has virtually doubled since Jan 1st!
I wonder why?|
|http://www.shareprophets.com/views/18873/goldplat-st-brides-the-questions-of-insider-dealingMessage St Brides have been putting out:"They will be in London next week to discuss their soon to be released Interim Results, which will be going live on Monday morning. The results are really positive and reveal a return to profitability for the Company."|
|Every picture tells a story!
How anyone can still support RT is totally beyond me, it's head in the sand denial of the highest order!
If S & G could wind the clock back, they would never have done the deal IMO.|