At last the accounts of Quenron (QPP) subsidiaries are starting to emerge at Companies House and you can see why Rob Terry and his FD Laurence Moorse were so tardy in filing because they are a true can of worms. The first which has arrived is 360GlobalNet Ltd which is 60% owned by Quindell and this stinks to high heaven. Even the pathetic QPPSAG must surely now be hearing the alarming bells ringing? Or perhaps they all have Industrial deafness.
By way of background reading for the Quenronologists the 2013 accounts for 360GlobalNet can be found HERE and the annual return (which lists shareholders) can be found HERE
The stated history according to Quindell is that it acquired a 3% stake at an unspecified time and increased that to 19%on 28th February 2012 at a price of £2.15 million (£900,000 in cash and the rest in shares). That was not actually strictly true as I explained HERE but let’s pretend it was and continue.