WTG.L Regulatory News (WTG)

Quindell Portfolio Plc("Quindell", the "Company" or the "Group")

Acquisition and Increase in Director Shareholding

Quindell Portfolio Plc (AIM: QPP.L), the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets, being Insurance, Telecommunications and their Related Sectors, is pleased to announce that it has completed the acquisition of the group of companies comprising Overland Health ("Overland Health"), a full-service, integrated, rehabilitation supplier to the insurance industry as previously announced on 19 April 2012.

Overland Health is a full-service, integrated rehabilitation supplier to the insurance industry, employers and occupational health providers. Overland Health was established in 2009 with a completely new vision for serving the rehabilitation market, offering clients a unique multi-disciplinary rehabilitation service through the use of its cloud-based technology, evidence-based assessment and management tools, and outcome focused programmes. Its rehabilitation offering includes physiotherapy, psychological counselling and injury case management including specialist medical treatments. With Overland Health as an integrated part of the Group, it provides the platform for Quindell to acquire selected rehabilitation and treatment centres, thereby extending Quindell's reach deeper into the insurance supply chain, enabling Quindell to drive through service synergies, change the way in which the industry operates, lower the cost of claims and improve service for clients.

As a result of its work with Quindell over the past year, Overland Health has proven that the confrontation that often exists between the interested parties at the point rehabilitation services are initially proposed, can be resolved. Their model, which is to have these services, wherever possible, agreed by both defendant and claimant at the earliest possible opportunity, has delivered significant results and as a consequence the Group's medico legal reporting subsidiary, Mobile Doctors, has now transitioned a significant proportion of its rehabilitation work to this pre-authorised model.

As disclosed on 19 April 2012, the terms of the acquisition values Overland Health at £14 million and has been satisfied by the issue today of 140,000,000 Quindell shares. This valuation has been calculated on a multiple of 6.5 times Overland Health's targeted profit after tax of £2.16 million for the twelve-month period ending 31 December 2013 (the "Target Profit"). The shares are subject to lock in of between 12 and 36 months from the date of issue. In the event that Overland Health misses its Target Profit, the Group will receive compensation from the vendors in the form of cash equal to 6.5x the shortfall. Through its work with Overland Health over the past year Quindell has already been working in partnership to deliver volume to the business, generating significant improvements in both revenue and profitability. On the basis of the growth delivered to date and run rate revenues currently being achieved, the Boards of both Overland Health and Quindell are confident that 2013 targets will be met or more likely exceeded.

Increase in Director Shareholding

Associated with the transaction above Ubiquity Capital LLP, a company connected to Jason Cale, a non-executive director of the Company, has increased its shareholding in Quindell Portfolio (AIM: QPP.L) from 61,241,396 to 69,641,396.

The Board of Quindell Portfolio Plc (AIM: QPP.L) has also been informed that on 25 September 2012 Ubiquity Capital LLP purchased 1,625,000 ordinary shares of 1 pence each ("Ordinary Shares") at a price of 10 pence per share.

Following this transaction, Mr Cale, together with those shares held by Ubiquity Capital LLP, is interested in a total of 71,266,396 Ordinary Shares in the Company, representing approximately 2.45 per cent. of the total issued share capital.

Rob Terry, Chairman and Chief Executive of Quindell said: "Based on the current run rate volumes being achieved in partnership with Overland and pilots already underway, the Board and I are confident that Overland will be able to meet and even exceed the targets agreed. It is some time since the agreement was originally reached to acquire Overland, back in April 2012, but we have used the time to prove that the two businesses can work together effectively and that the warranted profit target can be delivered from current volumes. Now is the right time to complete this acquisition and deliver this key part of the integrated Quindell model, which we are confident will be earnings enhancing for the Group from day one."

Update on mandatory cash offer with share alternative for Ai Claims Solutions Plc ("Ai Claims")

Quindell is also pleased to confirm that it has now concluded its purchase of Ai Claims shares under the Sell-out Right process previously outlined in the Group's announcement on 14 June 2012 with the issue of 882,146 new Quindell shares and cash of c.£38,000 to acquire 432,895 Ai Claims shares, representing c.0.7 per cent., in Ai Claims that were not already owned by Quindell. Following the acquisition of these shares, the Group now owns c.98.4 per cent. of Ai Claims.

Application has been made for the 140,882,146 New Shares to be admitted to trading on AIM. Admission of the shares is expected to occur on 28 September 2012. Following Admission Quindell will have 2,906,009,122 ordinary shares in issue. The Company has no ordinary shares held in treasury. The total of 2,906,009,122 ordinary shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

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Notes to Editors:

About Quindell Portfolio Plc

Quindell Portfolio Plc is a provider of sector leading expertise in Software, Consulting and Technology Enabled Outsourcing in its key markets being Insurance, Telecommunications and their Related Sectors.

Quindell joined the market through Mission Capital Plc, now renamed Quindell Portfolio Plc. The Company was readmitted to the market on 17 May 2011 following the acquisition of Quindell Limited prior to the immediate acquisition of Quindell's technology and outsourcing partners. In December 2011, Mobile Doctors Group Plc was acquired increasing 2012 run-rate revenue to over £50 million. On the 1 April 2012, Ai Claims Solutions Plc became a subsidiary of Quindell, increasing run rate revenue to over £150 million.

Our Industry Sectors

In today's digital world the line between traditional industry sectors continues to blur, however the focus on tight service management is common to them all. We believe that excellent customer service, tight cost control and integrated supply chain management is not the prerogative of any single industry sector and with our solutions in multiple industry sectors savings of over 20% against industry norms are being delivered to the bottom line.

Our Solutions

The pressures on an organisation can come simultaneously from multiple directions including the need to add customers, increase wallet share, reduce costs and improve customer satisfaction. At Quindell we have the People, the Processes and the Supply Chains, underpinned by our sophisticated Champion and Challenger Business Process Management Technology Platform and Industry Solutions to help our customers tackle these efficiently and effectively.

With a clear understanding that having the best products and services on offer is not always enough and that getting your customers to use or adopt them is key, effective conversion lies at the core of our unique Champion and Challenger tools and techniques. Using these solutions Quindell has helped its customers achieve sales and service conversion rates ranging from 75% to 90%, way above industry norms. But life does not stand still, and complacency can kill any business, so the embedded Champion and Challenger continual improvement focus of our Learning Solutions is at the heart of all we offer. Using our industry insight and expertise, Quindell takes the holistic view of our client's challenges.

For example, when considering the Insurance industry today where 50% of the cost of an auto claim is associated with Personal Injury, including legal services, medical reporting and rehabilitation, it is clear that an organisation will not be able to achieve the levels of savings and customer satisfaction desired without addressing the injury to the driver as well as the repair of the vehicle. This is why at Quindell we have designed our insurance solutions and supply chains to address the full end to end cycle, with the ability and expertise to treat an injured party as well as repairing their vehicle. This makes Quindell a truly unique and ethically based proposition for the insurance industry today.

Our Customers

Quindell Portfolio's companies have worked with over 2000 brands from Small to Medium Enterprises and Blue-chip organisations around the globe. Today we count a number of the world's top Insurance and Telecommunications blue chip companies within our client base, as well as hundreds of customer centric organisations working in both the distribution and supply of their services.

Our award winning Business Transformational, Software, Consulting and Outsourcing Solutions are recognised as delivering significant savings and additional sales to our customers every year.