In December 2015 Quindell changed its name to Watchstone. Concurrently it consolidated its shares, turning every ten shares into just one. The share price before consolidation was in the region of ninety seven pence, so after consolidation you would expect it to be about nine pounds seventy pence, but it didn’t; it became two pounds twenty pence. Why? Well, in December the company said that it would pay to its share holders £9 for every share that they hold, with more to come in 2016. The nine pounds were duly paid and a further one pound was promised to be paid later in 2016.
Now it is a new company, with a new directorship and a new managing director. It is still losing money we are told, so its next published financial statements will make interesting reading. They will be analysed and commented on here.