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 0.0% 97.75 0.00 0.00 0.00 0.00 - 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 72.0 -238.0 -87.9 - 444

Quindell Share Discussion Threads

Showing 111976 to 111994 of 112125 messages
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DateSubjectAuthorDiscuss
26/11/2015
12:53
http://www.abc.net.au/news/2015-11-26/questions-over-slater-and-gordons-future-as-share-price-dives/6978296 Slater and Gordon: Uncertainty over law firm's future, or survival, as share price dives By Stephen Long Updated 54 minutes ago Is one of Australia's oldest and most famous law firms — and the first in the world to list on a stock exchange — going broke? Slater and Gordon's share price fell precipitously today, its shares closing at 94 cents — a fall of more than 50 per cent and a monumental tumble from its highs of close to $8.00. The fall put the company's market value at just over $300 million, about a quarter of what it paid the British professional services firm Quindell in an ill-fated purchase just eight months ago. The catalyst was regulatory change in the UK on traffic accident compensation, but the underlying issues go deeper. Slater and Gordon's market capitalisation has now been eclipsed by its debt of more than $700 million and rising. The firm raised nearly $900 million, mainly from institutional investors, to fund the purchase of Quindell, and also borrowed more than $350 million from a syndicate of banks. The bankers might be poring over the books now. Implications of collapse would be dire If Slater and Gordon were to go broke, the implications would be dire. It is one of the largest plaintiff law firms in the world. A collapse would place thousands of clients in limbo, and potentially create havoc for the legal systems of Australia and the United Kingdom, where Slater & Gordon has expanded aggressively in recent times. It would also be an ignominious and ironic end to a law firm with a proud labour movement history. It has been more than 80 years since Hugh Gordon and William Slater founded the firm. Operating from a small room in the Australian Railway Union's building on Bourke Street in Melbourne, the firm was a champion of workers' rights from the outset, pioneering claims on workers' entitlements and workplace injury. Slater and Gordon gained public notoriety and acclaim when it took on the asbestos industry, first CSR over its deadly blue asbestos mines in WA, then James Hardie, acting pro-bono for the ACTU and asbestos support groups in the James Hardie Commission of Inquiry. Social justice mission waning But the emphasis on social justice has waned since the law firm took what it described as the "bold" step of publicly listing. Lawyers who have left speak of being pressured to settle cases, against the interests of clients, to bring cash in the door. Quindell, which it so disastrously acquired, has been under investigation in the UK for accounting fraud. Slater and Gordon's own accounts have also been under scrutiny by ASIC and analysts amid concerns a constant stream of acquisitions have hidden problems in the business. On the face of it, Slater and Gordon's debt is well covered by its current assets, until you drill down and look at the nature of those assets. Less than $100 million of its reported $1.3 billion in current assets is cash or equivalents. A total of $620 million is receivables and much of it — $553 million — is work in progress, or "WIP". There have long been doubts about Slater and Gordon's estimates of how much work in progress will convert into hard earnings and cold cash. As the "WIP" has expanded via acquisitions of other law firms, Slater and Gordon has been able to state rising accounting profits, but cash profit has been thin on the ground. The collapse in the share price will have shareholders looking for answers. In recent times, the class actions the firm was once famous for have become few and far between. But, it is possible that Slater and Gordon could soon be at the centre of a class action again — this time as the defendant.
soul limbo
26/11/2015
11:15
"SGH have stated several times that they are happy with the due dilligence performed by their legal and accounting experts (70 taking months)." Which is exactly why the business is completely uninvestable.
funkmasterp12
26/11/2015
11:02
SGH have stated several times that they are happy with the due dilligence performed by their legal and accounting experts (70 taking months). A willing buyer bought from a willing seller - end of.
tonybaloni
26/11/2015
10:55
Sue ... on what grounds ... pmsl.
squire007
26/11/2015
10:41
I wonder if SGH shareholders will try and sue formerly quindell too?
elcapital
26/11/2015
10:40
LMAO. Yes, changing the name will change everything! Are these mug punters from a different planet? For years to come it will be known as "formerly Quindell"
elcapital
26/11/2015
10:32
All resoloutions passed... 98% plus ... :-)
squire007
26/11/2015
10:27
Resolution 2: Name change: Name change effective TODAY if passed. WTG will be stock name.
squire007
26/11/2015
09:00
Yeah, good point EC. Nicky, Are you prepared to recant your previous heresies & accept TW as your personal Lord & saviour? (stock market affairs only, obviously)
ionlypostafterbbms
26/11/2015
08:52
I have to give credence to Nerd of Steel Despite the bad comments about TW, he has now said TW was right, and despite him not liking him, says he does get it right much of the time. Fair play to him, its often hard to say you have been wrong. Nicky no money is still too stupid to acknowledge this, but his spouse, big Frank, isnt happy
elcapital
26/11/2015
08:47
A lot of the hardcore Blueshare / QPPSAG nutters STILL believe SGH got the bargain of the century when they bought QLS, claiming they (the nutters) know the quality of the business therein & it is pure gold. They talk of QPP missing the guaranteed 10 figure payout it'll generate & as a consequence they have transferred their allegiance as well as their money to SGH, much like Nicky No Money has done. They're feeling a bit bruised this a.m.
ionlypostafterbbms
26/11/2015
08:39
Wasn't Steamy urging the SAG/Blueshare band of brothers to but S&G also?
kemche
26/11/2015
08:13
I see headline Tesco shareholders got compensation for far far less than has happened here. As nicky numb nuts is still clutching on to his much smaller investment than he started with, that the possibility of wipe out from SHAG is far greater. Mr albatross
elcapital
26/11/2015
06:56
SGH all the way back down to over 50% loss at close. $0.935 to sell. What an investing genius Nicky is with his fantasy trades. Do you still have your fantasy spreadbet open, the fantasy margin call on that must be pretty painful - good job it is only in your nightmares and not real.
sweet karolina
26/11/2015
03:19
It won't be the potential changes to UK law that kills SGH, it will be the lack of cash generation to service the massive debt that kills them well before any change to UK law takes effect. Are the Aussies going to try and get some of the money they wasted on PSD back? They are going to need it. It is clear the market has lost all faith in them: HTTP://www.asx.com.au/asxpdf/20151126/pdf/433b2jz846q3gs.pdf An announcement like this from a company the market trusts does not send the shares plunging by 50%. Yes mug punters are trying to catch this falling knife and it is only down 30% as I write, but give it a few weeks and sub $1 will be the norm. Keep up the fantasy trading Nicky, it is most amusing.
sweet karolina
26/11/2015
01:52
go to bed Tom are you short Redde too then? (I mean your chums) as you don't own anything personally Neil Woodford's new fund and Fidelity own a huge amount of the equity there, and might give you guys a run for your money same business model as Slaters though Redde shares dipped at 9.30 when autumn statement seems to have been leaked, but then recovered
nicky name
26/11/2015
01:28
Tom are you staying up all night in the hope that you can rattle me? go to bed you sad stalker
nicky name
26/11/2015
01:26
bought more at A$0.907 if your research is so good explain the implications of the consultation next year for us and for Slater's rehabilitation companies not just this is going to 0p, 'cause your short trader chums told you to blog that you said the same thing about QPP lol
nicky name
26/11/2015
01:23
Only yesterday. Nicky Name 24 Nov'15 - 14:06 - 37613 of 37643 1 0 wtf would I bail? Slaters got a bargain I ain't selling SGH at A$2, that would be ludicrous
ionlypostafterbbms
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