ACF Equity Research

ACF was set up to improve the effectiveness of capital markets for smaller and mid-sized companies. The majority of jobs are created by smaller companies not global companies. If we can help improve companies use of capital markets more projects will be completed, more jobs created, more global GDP grown, which in turn helps create more resources for education, leading to equality and opportunity for those who are still oppressed by ignorance and poverty.

ACF Equity Research is an independent research house specialising in the highest specification independent equity research for corporate clients.

We deliver premium independent corporate sponsored equity research characterised by its accuracy, clarity and foresight based upon a fundamental valuation approach.

Our independent research is designed to educate our professional investor readers about your company, with an emphasis on clear and accurate explanations. Our mission is to improve company’s liquidity through credible equity research services, excellent international distribution and reliable access for investment managers.

We believe in the importance and value of clarity, the careful articulation of technical ideas, concepts and solutions.

Our team of analysts are independently minded individuals who believe in thoroughness, technical competence and clear punchy communications.

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Research from ACF Equity Research, ACF Equity Research

Research from ACF Equity Research

Equity Bottom-Up

<ul><li>Quantum Data Energy (QDE.L) announced, in an RNS Tuesday 02 June 26, the successful replacement of its auditor Crowe by auditor Parker Russell UK LLP.</li><li> The management team is completely focussed on completing the 31 Dec YE25 audit and will release a new timeline in due course in order that the temporary suspension of QDE’s shares can be reversed.</li><li>Crowe has not disclosed any s519 findings to justify its decision to resign and continues to act as auditor for QDE’s SPVs. We await he revised publication timeline and maintain our temporarily raised ‘uncertainty’ discount rate by 350bps to reflect elevated execution risk.</li></ul>

Quantum Data Energy (QDE.L) announced, in an RNS Tuesday 02 June 26, the successful replacement of its auditor Crowe by auditor Parker Russell UK LLP. The management team is completely focussed on completing the 31 Dec YE25 audit and will release a new timeline in due course in order that the temporary suspension of QDE’s shares can be reversed.Crowe has not disclosed any s519 findings to justify its decision to resign and continues to act as auditor for QDE’s SPVs. We await he revised publication timeline and maintain our temporarily raised ‘uncertainty’ discount rate by 350bps to reflect elevated execution risk.

Quantum Data Energy (QDE.L) Flash Note Parker Russell Puts Audit Back Underway 03062026