Quindell dismisses claims it has lost a contract as 'untrue'
Quindell has denied it has lost a key deal and dismissed press speculation regarding the issue as untrue.
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Reports emerged on Thursday claiming the troubled firm had allegedly lost a major contract with a claims management firm, thought to be one of Britain’s biggest accident management businesses, located in the north west of England.
Quindell issued a statement saying it had not lost the deal and that "relationships with partners and customers remain strong".
The news comes after three of the group's directors announced their exit from the company following a controversial share dealing, as well as the resignation of joint broker Canaccord Genuity.
Along with finance director Laurence Moorse and non-executive director Steve Scott, the now ex-chief executive Rob Terry sold shares to US firm Equities First Holdings (EFH) and pledged to buy them back in two years' time.
However, on Wednesday Moorse failed to meet a margin call that was triggered under the deal as a result of the sharp fall in the share price, ending the agreement and ultimately meaning the directors can walk away from the company without having to buy back the shares.
Quindell shares were up 9.50% to 62.42p at 08:54 on Friday, but still down 57% over the past month.