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Quindell Red Flag of the Day – About those missing 100 million PT Healthcare shares?

Tom Winnifrith
Sunday 22 June 2014

As you know I am thick as two short planks and so I am sure that there is a perfectly reasonable explanation for what appears to be another red flag in the ever growing red flag forest at Quindell (QPP). Perhaps a Bulletin Board moron out there can enlighten me regarding the missing 100 million shares? 

On 26 September 2013 Quindell announced that it had bought 26% of PT Healthcare by issuing 31,551,270 shares. Do not worry about what it does, Rob Terry told us that it would be earnings enhancing so that’s alright. Quindell said that it had an option to buy the rest of PT for 242 million more shares which lapsed on April fool’s day 2014.

Now please turn to page 18 of the Quindell Annual Report which must be an accurate document sine it is signed off by KPMG. On that page Rob Terry states that:

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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