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A good morning to Culley01 and to everyone else.
It appears that my news reporting of that Optima Legal 'apparently owned by Capita', was only posted in the Australian news sales and mergers channels and not in the UK.
In my honest opinion, I strongly believe that once again, the Capita investors relations Stuart Morgan and BoD has failed to keep us in the loop of what's going on with the company and especially if this is to do with a major or even a small sale as every little helps no matter what it is to raise more cash.
Anyhow, minutes ago, I did a quick call to Stuart Morgan mobile to ask him to confirm that sale, but had the answering machine on with the 'leave a message and I'll call you back bulls'. Anyhow, I'll try later as he does occasionally answer his mobile but not at the moment.
Here is the number 07989 665484. Feel free to call and ask for an explanation as to why nothing or no-one wants to update us with that newsworthy sale report. We deserve better. Cheers
As for the sale price, I believe that is a confidential type of sale. Is not the first time that Capita that has sold one of their financial and insurance units to an Australian based company and that was if you remember their Irish based insurance company which also its sale figure never got published. Best of luck.

( ASX : PXA ) , an electronic property transfer platform , announced on Thursday that it has agreed to acquire Optima Legal, a leading UK mortgage processing company owned by Capita plc.

Optima Legal is a Leeds (UK third largest city) bulk mortgage processing firm providing legal services in the UK mortgage market. It is one of the UK's largest mortgage processing companies, with a share of around 22% of the mortgage market and has direct relationships with six of the UK's eight largest banks.

The company noted that the acquisition is an exciting opportunity that will boost the adoption of the PEXA digital platform and its associated benefits in the UK market. By integrating PEXA's UK platform into Optima Legal's system, PEXA will be able to demonstrate the benefits of its platform at scale.

The acquisition of Optima Legal will be funded from PEXA’s existing cash reserves and is subject to customary transaction conditions and approvals, including from local regulators, and is expected to close by the end of calendar 2022. Given the strategic nature of the acquisition, an immaterial operating loss is expected in FY23.

The acquisition also supports PEXA's growth plans in the UK digital transfer market. More recently, PEXA also recently announced the appointment of John Hooper, a seasoned financial services executive, as Chairman of PEXA's UK Board of Directors.

This follows the launch of PEXA Pay in the country, the 7th net settlement payment scheme in the UK, developed by UK banks as settlement agents in partnership with ThoughtWorks, a leading global technology consultancy.

In Australia, the PEXA trading platform handles more than 80% of all property transactions in Australia. The company believes that this is a highly mature market and that digital technologies are widely used.

Glenn King, Managing Director and CEO of PEXA, said: “The acquisition of Optima Legal presents an excellent opportunity to drive the launch of digital property settlement in the UK. The digital settlement solution will increase accuracy and efficiency while reducing costs. Given the UK There is a lot of remortgage activity in the market and we expect volumes to increase as interest rates continue to rise.”

Shares in the company rose 0.83% to A$15.72 in intraday trading today.

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