The one thing you cannot fault Rob Terry for is lack of ambition! Terry is founding CEO of Hampshire-based insurance business process services firm Quindell Portfolio (soon to be renamed ‘plain’ Quindell), and has just raised another £200m (net) to further Quindell’s quest to become “the leading supplier of technology based insurance and telematics solutions globally”. The funds were raised through a placing of 1.32bn new shares at 16p each, a 10% discount to its recent high. The placing increases the outstanding share count by 32%.
At the half-time stage (to 30th June 2013) Quindell had a net cash outflow of £31m before financing, on net earnings of £34m. Should you wish to trace the trail of Quindell’s journey so far, start here and work back.