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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Quindell | LSE:QPP | London | Ordinary Share | GB00BMTS9H89 | ORD 15P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 97.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMQPP
RNS Number : 4988A
Quindell PLC
29 September 2015
29 September 2015
Quindell Plc
("Quindell" or the "Company" or the "Group")
Receipt of Notice of Intended Claim
Quindell Plc (AIM:QPP.L) announces that it has received a letter described as a "Notice of Intended Claim" from a law firm acting for a claimant group suggesting that it intends to commence an action against the Company under the Financial Services and Markets Act 2000 ("Notice").
Whilst the Company is not in a position to verify the assertions in the Notice (as no claim has been received as yet), the Notice estimates the value of the potential claims against the Company to be a maximum of approximately GBP9 million before costs (if awarded). There can be no guarantee that other claims will not be made against the Company and, in particular, the claimant firm details that it has been approached, but not retained, by other potential claimants who together, it asserts, would have a claim of a maximum value of a further GBP9 million.
The Company is not aware, and has not been made aware, of any other law firms acting for (or in the process of forming) other claimant groups.
The Notice provides little detail on the potential claim or the timing of the pre-action Letter of Claim and no information to support the valuation of the individual prospective claimants' claims, which would require to be proved in due course in any litigation. At this stage, the Company will vigorously defend all such claims, as appropriate.
Neither the Notice nor any claim made as currently outlined in the Notice would adversely impact the Company's previously announced intentions regarding a capital return.
For further information:
Quindell Plc Tel: 01489 864 200 Richard Rose, Non-executive Chairman Indro Mukerjee, Group Chief Executive Officer Stephen Joseph, Head of Investor Relations Tulchan Communications Tel: 020 7353 4200 Victoria Huxster Peel Hunt LLP, Nominated Adviser and Tel: 020 74188900 broker Dan Webster
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCDMGZLKLDGKZG
(END) Dow Jones Newswires
September 29, 2015 02:02 ET (06:02 GMT)
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