Quindell (LON:QPP) Main Listing Analysis Courtesy of @Securitorium on Twitter

Before Quindell (LON:QPP) can be listed, their sponsor  Canaccord Genuity Inc (LON:CF.)  must get QPP’s prospectus approved by the UKLA. Although the prospectus is a legal document, it is also a marketing tool to help to sell shares to potential investors. Hence it needs to be perfect for the upcoming Teach-In on the 17th Jun, stand up to scrutiny at the AGM, and satisfy all current investors.

The drafting of a prospectus takes several weeks and will involve all of QPP's advisers. A number of drafting sessions will have taken place already on various sections of the document. Although RT confirmed submission on 22nd April (or around that date) this was likely one of the first drafts - if not the first!

From a marketing perspective, the prospectus outlines QPP's strengths, strategy and market opportunity - plus the risks of course.

QPP's sponsor is responsible for submitting drafts of the prospectus to the UKLA. The UKLA is allowed 10 business days after the first submission to respond to the sponsor with a comment sheet. QPP and its advisers will then revise the prospectus so that the sponsor can submit an updated draft with the UKLA for a further review. For the second and subsequent drafts, the UKLA responds via its comment sheet within five business days.

As every transaction is unique, it is impossible to predict exactly how long this entire process will take. As I said in my tweet - due to QPP's recent acquisitions it is likely the process will take longer due to the due diligence that is required.

However, as a general rule, the timeframe is approximately six to eight weeks from initial submission of the prospectus to the UKLA (approximately three to four submissions) to preliminary approval ahead of launching the transaction. Keep in mind it may take QPP a little longer to make the required changes

I see no need to be concerned, and by all accounts we appear to be on track for Main Market listing. Keep in mind it makes not difference that we are on AIM. It is treated as standard Main…

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