3571 days ago
Oh gosh this is complicated. Perhaps I am just a bit stupid and a Bulletin Board Moron can assist with answers to the questions about Quindell’s (QPP) relationship with Himex because it is all jolly complicated. Let’s start in July 2013 when Quindell bought a 19% stake in Himex for £1.8 million in cash and 64.8 million shares. Easy...
We maybe not because Quindell stated that the shares were issued so that “Himex will use the investment to accelerate growth”. That is Quindell speak for the shares were issued not to the owners of Himex but to Himex itself.
Now I note that as of the recent trading statement Himex was a subsidiary but Quindell had ZERO shares held in Treasury.
As at July 2013 Himex
