* Won't re-apply for premium London listing in near future
* Seeks monetary compensation from Gotham City Research
* First-half pretax profit nearly quadruples
(Adds chairman's comments, details, share movement)
By Noor Zainab Hussain
Aug 21 Quindell Plc, a British IT
outsourcing and consultancy company whose stock has been
hammered following allegations by a short-seller, said it is
exploring a U.S. stock listing and will not immediately re-apply
for a premium listing in London.
Quindell's stock has fallen about 70 percent in the past
four months after U.S.-based Gotham City Research raised
questions about its revenue model and profit quality.
"Even though we may not look to list in the UK in the near
future, that doesn't mean we wont look at the U.S. We are
looking at all options," Chairman Robert Terry told Reuters.
The company said in June that its application for a premium
listing on the London Stock Exchange had been turned down.
Quindell, which has a market value of about 920 million
pounds ($1.5 billion), said it did not meet a rule that its
business should not have undergone significant change in scale
or operations over the previous three years.
Quindell's volatile stock, which is listed on London's
Alternate Investment Market (AIM), was down 8.8 percent at 191.9
pence at 1013 GMT after the company reported first-half results.
The stock had gained more than 25 percent over the previous
Quindell has started legal proceedings against Gotham City
Research and a blogger who it says made defamatory statements
about the company.
Terry said that Quindell was seeking unspecified monetary
compensation from the short-seller.
"(We are seeking) compensation for the damage they tried to
do to the business and of course they have done to the share
price in the short term," he said.
The company, whose customers include British American
Tobacco Plc and ING Groep NV, reported a
near-quadrupling in first-half pretax profit to 153.7 million
pounds. Group revenue more than doubled to 357.3 million pounds.
($1 = 0.6032 British pounds)
(Editing by Gopakumar Warrier and Ted Kerr)