We still await answers from Quindell (QPP) on why it has apparently NOT issued shares it said it would for the purchase of iter8 (see HERE) but now attention turns back to PT Healthcare where the questions mount by the day. But will Quindell answer them. And if not why not?
I revealed in June that Quindell had not actually issued 6,666,666 million shares to increase its stake in PT on March 28th as it had said it had done. Belatedly Quindell then issued the shares but lied as it did so see HERE. But to whom did it issue those shares?
We pointed out that the original tranche of shares issued to PT were not issued to the vendors but to PT itself (which is controlled by Quindell because Quindell has an option to go to 100%, now owns 49% and is also providing the funding to keep PT going) PT appears to have sold some of those 31.5 million shares (pre consolidation numbers) last Autumn without Quindell telling us as I pointed out HERE.
So to whom were the second tranche of shares issued? To the vendors of PT or to PT itself. Put another way has Quindell issued shares to itself?
Page 85
on ShareProphets | CommentsFiled under: