Outsourcer aiming to buy the 22.4% of Ai Claims it does not own

Ai Claims’ board of directors has recommended Quindell Portfolio’s offer for 22.4% of the company to its shareholders.

On 2 April, outsourcing firm Quindell bought a 47.7% stake in Ai Claims, taking its total stake in the claims management firm  to 77.6%. As a result, Quindell was obliged to make a cash offer, with a share alternative, for the 22.4% of Ai Claims it does not own.

The deadline for receiving offer acceptances from Ai Claims shareholders is 13.00 on 15 May 2012.

For the year ended 30 June 2011, Ai Claims had profits of £2.7 million and in the six months to 31 December 2011, Ai Claims made profits of £0.9 million. As at 31 December 2011, Ai Claims’ net assets were £19.0 million.

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