(Reuters) - Shares of Quindell Plc fell as much as 24 percent after the British IT consultancy firm announced the resignation of its joint broker nearly four weeks after it had received notice.
Quindell said that Canaccord Genuity had submitted its one-month notice of resignation on Oct. 21. It said the resignation took effect on Monday, cutting short the notice period by a few days.
Asked why it had not disclosed the resignation earlier, a spokeswoman for Quindell declined to comment. She also declined to comment on the reason for Canaccord's resignation.
Canaccord, which is also resigning as Quindell's financial adviser, did not immediately respond to a request for comment.
The Sunday Times reported on Nov. 16 that Quindell had opened talks with hedge funds about a potential cash injection after failing to interest banks in a deal.
Asked about that report, the spokeswoman for Quindell said the company had "no current need for any third-party financing."
Quindell's shares were down 16 percent at 56.85 pence at 1212 GMT. They had earlier fallen to 52 pence, their lowest in more than three years.
(Reporting By Francesco Canepa in London and Esha Vaish in Bangalore; Editing by Lionel Laurent and Robin Paxton)