London Stock Exchange begins investigation into Quindell's share price fall But after Cenkos, the company's nominated adviser and fellow joint broker, was made aware of the situation over the weekend, it forced the company's hand. It is understood neither the company nor Cenkos has been contacted by the LSE at this stage. Possible penalties, were the rules found to have been broken, include being publicly sanctioned and a fine. Shares in Quindell - which has seen about £2.5bn of shareholder value eroded since February - closed down 2.7pc at 54p on Tuesday. Mr Terry raised approximately £7.5m from a share sale and repurchase agreement with US stock lender Equities First Holdings in November, and has spent about £1.5m on Quindell shares. He said on Tuesday said he has "no intention of making further use of this agreement" and it is understood he is not bound by his original pledge to spend all of the money raised on Quindell shares. That leaves him with approximately £5.9m in cash. A Quindell spokesman said "The company has not had any correspondence from the Aim team," but declined to comment on Mr Terry's financial situation. A Cenkos spokesman said it had advised Quindell in accordance with the Aim rules. A spokesman for the LSE declined to comment.