Today's revelations on Quindell (QPP) are shocking. How do the Morons feel now knowing about the wage deferral, that they were mislead about the cash position on October 13 (market abuse) so they bought shares and Rob Terry, Laurence Moorse and Steve Scott were able to sell. How do they feel about that? You guys were suckered. Now you need to stop getting angry with me and start directing your anger towards a board that has stolen your cash.
But it is worse. The Company now knows that market forecasts re cash generation in H2, re the cash position and re profits are all hopelessly wrong. It has allowed meaningless staff memos to be leaked to reassure you but in fact its senior staff already know the grim truth. It is again a breach of all sorts of rules not to have told investors. But sadly you folks were kept in ignorance and have averaged down. You now need to show anger against Quindell for that. And against Cenkos for not keeping its cienmt in line. Cenkos has made £12 million from Quindell in the past 12 months and has real questions to answer.
On Monday these shares should be suspended and Quindell needs to admit the grim truth. The suspension should only be lifted if Quindell avoids administration which is unlikely and when it can fathom out the depth of its problems.
Following that perhaps I might get an apology from those I have tried to warn since April 2013 but in earnest since March this year. "Dear Tom, we are sorry for the death threats, the abuse, the lies we spread about you and Real Man, we are booking a table next week and will leave an enormous tip as a way of sayng sorry, yours A Moron"