Quindell purchases final Navseeker shares
Quindell has today acquired the remaining 8.33% of Navseeker, through the purchase of 832,000 ordinary shares.
On 5 March 2015, Quindell announced the settlement of litigation and the associated acquisition of 11.67% of Navseeker not already held by the company. As part of the process to achieve full ownership of Navseeker, the company announced that it has today issued 832,946 new ordinary shares of 15p each in the company, in respect of the acquisition of a further 8.33 per cent of Navseeker not already held by the company.
Navseeker is a subsidiary of Himex Limited, and following completion of this acquisition and the settlement, Navseeker will be a wholly-owned subsidiary of Himex.
Application will be made for the 832,946 new Ordinary Shares to be admitted to trading on AIM, with admission expected to occur on 20 March 2015.