WTG.L Regulatory News (WTG)

 For release on RNS 0730 on Tuesday 21 June 2011

Mission Capital PlcAcquisition of Business Advisory Service Limited

Mission Capital Plc ("Mission Capital" or the "Company"), the holding company of Quindell Limited, a leading reselling and sales outsourcing company with expertise in technology, telecoms, utilities, leisure, retail and franchise, is pleased to announce that it has acquired the entire issued share capital of Business Advisory Service Limited ("BASL" or the "Acquisition") and its associated companies for £8,200,000.

The transaction will be settled by issuing 270,000,000 Mission Capital shares ("New Ordinary Shares") valued at 3p per share based on the average mid market price prior to the completion date and £100,000 in cash. This share price represents a 21% premium to the admission price of the Company on 17 May 2011. The acquisition shares have the same lock-in arrangements as the shares of the Company's Directors.

Business Advisory Service Limited

Business Advisory Service Limited, one of the UK's leading business price comparison companies, offering competitive business electricity, business gas, telecoms and insurance for Businesses in the UK. The acquisition is part of Quindell's stated strategy of increasing its customer base to exploit cross selling opportunities for the benefit of its clients who license its technologies, the brands Quindell represent and their end customers.

For the year ended 31 December 2009, BASL produced revenue of £0.85m with an underlying profit, excluding one-off payments, of over £0.3m or 36%, which is in line with the Company's target of 35% to 40% EBITDA conversion in all key areas of the business. In 2010 management accounts show significant growth above these historic levels. Due to this continuing growth trend and the significant visibility of future earnings, the profit after tax for BASL has been warranted by the Vendors to be no less than £1m for the 12 month period following completion. The Directors are confident that this £1m profit warranty will not be breached as BASL has an estimated forward order book of signed contracts for recognition in future periods, together with associated cash payments of over £2.7m. In the event that a profit of £1m after tax is not achieved, the Company will receive compensation from the vendors in the form of cash or shares on a pro rata basis. Other key highlights of the Acquisition include:

·; MAJOR AFFINITY GROUP CONTRACTS BASL has signed a number of major Affinity Group contracts for Insurance, Utilities and Telecoms including Uswitch, Telegraph Business Club, Simply Switch, Money Expert, Prestige Purchasing, British Home Parks Association and Business Matters, as well as arrangements with over 100 smaller on-line business comparison sites which also generate referrals;

·; SOUTH AFRICAN LOWER COST INFRASTRUCTURE BASL has a South African associate from which it operates most of its call centre based sales operation and back office administration functions. This offshore lower cost infrastructure will now be leveraged by the Company across multiple areas of the business;

·; SIGNIFICANT INVESTMENT IN CRM INFRASTRUCTURE BASL has made a significant investment in its Customer Relationship Management technology infrastructure to allow it to respond to leads generated from on line businesses in a matter of minutes from remote call centre locations anywhere in the world. This investment will now also be integrated with the Company's own solutions and will be leveraged on a broader basis by the Company both internally and for sale to third parties; and

·; EASE OF INTEGRATION the Directors are confident of a quick and simple integration for this Acquisition. The Company has already been working in partnership with the Acquisition over the last 12 months as both a referral partner and a business consultancy provider. A 10 year long business relationship also exists between the Vendors of BASL and key members of the Company's management team.

This Acquisition combined with recent trading provides the Directors with confidence that the Company's significant potential for growth will continue to be demonstrated in the Second Half of the year and beyond.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM. Admission is of the New Ordinary Shares is expected to occur on 24 June 2011. Following Admission the Company will have 1,621,602,603 Ordinary Shares in issue.

For further information:

Notes to Editors

About Quindell and Mission Capital Plc

Mission Capital Plc is the holding company of Quindell which was founded in 2000 and develops, provides and utilises its own multi-channel e-business based Enterprise Resource Planning and Business Process Management solutions and related services to facilitate efficient and effective management of customer acquisition and servicing within finance, insurance, telecoms, utilities and other related industries. Quindell also develops and operates a leisure business model utilising its Enterprise Resource Planning solutions as a reference environment for its own technology and cross selling solutions, to be resold to third parties leisure businesses or via franchise models. Quindell provides consultancy on, and fully utilises within its own operations, online strategies, permission based marketing, membership models and cross selling to maximise revenue per customer.

For further information, please visit www.quindell.com or www.missioncapitalplc.co.uk

About Business Advisory Service Limited

Business Advisory Service Limited, one of the UK's leading business price comparison companies, offering competitive business electricity, business gas, telecoms and insurance for Businesses in the UK.

For further information, please visit Error! Hyperlink reference not valid.www.businessadvisoryservice.co.uk