Quindell – Small Scale Director Share Purchases mean Jackshit – In fact they are a sell signal

Rob Terry has today announced that he has bought £31,667 worth of shares in Quindell (QPP) at £1.90. Yesterday the new CEO bought a few shares. These purchases are all PR – designed to restore investor confidence in shares that are tanking. It is a smokescreen. This is a sell signal and here’s why.

£32,000 is peanuts for Terry. Remember that in 2013 Rob earned £1.32 million (including a £720,000 bonus). In addition as disclosed in the accounts “During the year, the Group made sales of £1,000 to, and purchased goods and services totalling £77,000 and fixed assets of £90,000 during the year from Advance Data Simulations Limited, a company controlled by R Terry.”  I have no idea what all that is about but I suggest to you that £32,000 is small beer for Terry.

We have been here before. 

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