Evil Diaries Addendum: Quindell Speaks… Quindell Speak

Evil discusses Quindell…

At 12.30 today Quindell has come up with the following:

“Press speculation

Quindell Plc (AIM: QPP.L) announces that, contrary to speculation, the exclusivity arrangements with Slater & Gordon Limited in respect of the possible disposal of an operating division of the Group (“Exclusivity”) continue and discussions are on-going.

There can be no certainty that these discussions will lead to an offer for, or the disposal of, an operating division of the Group. The Company will make an announcement if the Exclusivity terminates in the future.”

This needs to be interpreted as follows: There may or may not be an exclusivity clause in effect as talks between Quindell and Slater and Gordon continue. But that is perfectly normal where confidential information is being digested preparatory to a deal. Exclusivity was easily imposed since nobody else is interested. And the term “operating division” means whatever you care to make of it. As matters stand S and G are looking at a block of files the acquisition of which may alleviate Quindell’s cashflow problems.. All this is a rather humbler assessment of life in Quindelland, the home of Quindellspeak.