Back in late April Quindell (QPP) shares were on the slide post Gotham and the board responded with a PR campaign of share buying. It was PR puffery. But folks fell for it. And so we have today seen a second NED in Quindell buying shares. Let me explain why this is all bollocks.
In April there were 9 different RNS statements issued by Quindell relating to director share purchases at between 19p (that is 285p in today’s money) and 23.5p (352.5p). It can hardly be said that with the shares at 136p that was a good call worth following.
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