UK 13:57 Monday, 26 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Thanks to Paulie Walnuts for this gem on Quindell (QPP). What on earth can it be trying to hide at Himex? The scale of the panama pump perhaps? Over to Paulie:
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Comments
AB
You can’t change a/c date after relevant year end – so if Mileage did what you say when you say then guess what – they were too late and it doesn’t work! HO-HO!
Temptress
Actually AB it is the case that you cannot alter the year end after the filing date for the accounts. So for a 31/3 year end you can extend the accounting reference period right up until 31/12(which is the latest filing date for that year end) of the same year. Other than that I agree with the thrust of Paulies exposure. They are hiding something to prevent scrutiny.
Sweet Karolina
They pulled a similar stunt at Quintica. Companies House did give a first strike off notification – eventually, but when Quintica filed (when they wanted to, rather than straight away on receipt of the strike off notification) strike off action was discontinued – there was, no doubt, some insignificant fine to pay. So I am afraid it does work! HIMEX have changed their accounting date just before accounts are due exactly as Quitica did. HIMEX may get a fine and a strike off notification, but they will actually file before being struck off, so they will get away with it (assuming there is some value there and a strike off with any assets going to the crown would not be more preferable) .
I have not looked at the full Quintica report, filed eventually after moving the reporting date to 31 Dec 13, which was therefore filed on 30 Sep 14 (Should have been 30 May 14, before move of accounting date). But the summary looks to be the usual story ie a company just ticking over not making any real money but with a massive overdraft, which is farmed out to another area of Quindell. I think Tom has got bored with raising all the same red flags on every subsidiary (I don’t blame him) but maybe if he is feeling a bit more perky over the weekend he may decide to do a proper expose on Quintica just for old time sake. Ultimately Quintica, Himex, Ingenie etc do not really matter. What matters is the PWC report and what the banks decide to do about what it says – they will see it before PIs see an RNS about it.
Overall I still favour suspension, which I think is the same thing as 0p as shareholders will get nothing, some time in the New Year. But the probability of it occurring before Christmas has increased of late. My assessment it based on the chocolatetiness (the spell checker does not recognise this word but it is such a great word to describe FCA and AIM Regulation without actually swearing (which I accept is also justified) that it should be included in the Concise Oxford dictionary and allowed in spell checkers with an appropriate description in thesauruses that cites AIM as an example) of the regulatory teapots and not on what should happen if there was any justice in the world. If there was any justice then QPP would have been suspended well before Rob Terry got a chance to sell any of his shares (including the sale to EFH)