Quindell Portfolio completes deal with Silverbeck Rymer Solicitors

Quindell Portfolio Plc completed Friday the acquisition of Silverbeck Rymer Solicitors after receiving approval from the UK's Solicitors Regulation Authority.

Quindell Portfolio Plc completed Friday the acquisition of Silverbeck Rymer Solicitors after receiving approval from the UK's Solicitors Regulation Authority.

The software and consultancy firm said a consideration was satisfied by the issue of 97.66m Quindell shares subject to lock in arrangements ranging from 12 to 36 months, together with the final payment against £12m in cash.

Non-Executive Director Jason Cale will acquire 10,23m shares in the company at 16.4p per share. It will increase his shareholding in the organisation together with those held by Ubiquity Capital Partners, a company to which Cale is connected, to 81.49m shares.

Rob Terry, Chairman and Group Chief Executive of Quindell said: "We are delighted to have now concluded this acquisition. Having worked closely with Silverback Rymer over the last six months, we have grown it from the fourth largest personal injury law firm and Quindell Legal Services is now the UK's largest based on forecast run rate volumes. It is great that we have now completed this acquisition as we enter 2013."

An application was made for 97.66m shares to be admitted to trading on AIM, with admission expected on January 2nd. Quindell will have 3.53bn ordinary shares in issue following admission.

Quindell shares were down 2.29% to 16.00p at 8:19 Friday.

RD

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
23 Jan 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
5 Jan 2023
Investing trends to watch out for in 2023: what analysts say
Investment strategy

Investing trends to watch out for in 2023: what analysts say

What are sensible strategies for high inflationary times? We ask analysts to find out.
22 Dec 2022

Most Popular

House prices could fall 30%. Should investors be worried about a repeat of 2008?
Investments

House prices could fall 30%. Should investors be worried about a repeat of 2008?

Some analysts are predicting that house prices could fall as much as 30%, which, when compared to the fact that prices have jumped 28% since April 201…
24 Jan 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Wholesale gas prices are on a downward trajectory, but does this mean lower energy bills later this year?
27 Jan 2023
Council tax increases 2023 – how much more will you pay?
Tax

Council tax increases 2023 – how much more will you pay?

Your council tax bill will go up in April - we reveal the councils that have confirmed what this year’s increase will be.
23 Jan 2023