WTG.L Regulatory News (WTG)

RNS Release Embargoed until 7.01 am 30 March 2012

Quindell Portfolio Plc

("Quindell" or the "Group")

Appointment of Robert Thomson as Group Chief Revenue Officer andAcquisition of Enzyme International Limited

Quindell Portfolio Plc (AIM: QPP.L), the brand extension company and a leading practice provider of consultancy, software and outsourcing in its key markets, is pleased to announce the appointment of Robert Thomson as Group Chief Revenue Officer with effect from 1 November 2012 and the acquisition of Enzyme International Limited.

Robert will bring exceptional experience to the Group, having started his career with IBM, advancing to the position of Global Sales Director for the IBM-Huon alliance, with responsibility for over 700 implementation consultants working with major insurance companies in eleven countries. In 1998 Robert was appointed as Global Sales & Marketing Director for Huon Corporation. Robert subsequently joined the Innovation Group plc ("Innovation Group") in 2001, as a result of its acquisition of Huon. Following a period away from the business, concentrating on establishing and developing Enzyme International Limited, Robert re-joined the Innovation Group in June 2010 as UK Managing Director, responsible for delivering over £34.5 million in revenue in 2011, which represented circa 25% of Innovation Group's global EBITDA prior to group cost allocations.

Rob Terry, Chairman and Group Chief Executive of Quindell said: "I am delighted that Robert will be joining Quindell, having worked closely with him during my time at the Innovation Group following its acquisition of Huon. Robert has an enviable level of contacts and demonstrates significant understanding of both the insurance and financial services sectors. Having him as part of our team will contribute significantly towards our future growth and success. This appointment further demonstrates Quindell's ability to attract respected talent to the business."

Commenting on his appointment Robert Thomson, said: "Having previously worked closely with a number of the Quindell management team, I am excited at the prospect of joining Quindell as it works to revolutionise the insurance supply chain through innovative new business models enabled by superb people and technology. Recognising the opportunity for significant value creation for myself, Quindell's clients and staff, I have previously purchased 1,200,000 Quindell shares prior to my appointment."

Robert is not able to take up his full time role as Group Chief Revenue Officer with Quindell until 1 November 2012, when his current employment and post-termination restrictions come to an end. Robert is subject to restrictive covenants in the areas of provision of software and services to the insurance industry in relation to motor accident management, property subsidence management and fraud. These restrictions will be fully respected.

Whilst at the Innovation Group Robert continued in his role as a Director of Enzyme International Limited ("Enzyme"), which works in the field of Personal Injury, with particular interest in pain detection, diagnostics and rehabilitation, with a view to reducing leakage in insurance claims resulting from fraud and inappropriate treatment strategies. This work has been conducted by working directly with world leading clinical academics.

Robert, in his role as Director of Enzyme, will continue his work in the field of medical investigations and rehabilitation services including the proposition of providing these services to UK insurance clients associated with Alternative Business Structures.

The Group also announces today that Enzyme International Limited has been acquired via a newly incorporated entity, Quindell Champion & Challenger Methods Limited ("QC&C Methods") by the Group at a valuation of up to £2 million to be satisfied by the initial issue of 7,500,000 Quindell Shares ("New Shares"), and up to a further 12,500,000 Quindell Shares ("Further Shares"). This valuation has been calculated on a multiple of 4 times QC&C Methods targeted profit after tax of £500,000 within a continuous twelve month period ending prior to 31 December 2013 ("Target Profit"). The Further Shares may be issued over the next nine months and used to acquire the businesses of other industry leading talent, not currently working with the Group, in order to assist in meeting this Target Profit.

The New Shares have been issued at a price of 10 pence per share, representing a premium of circa 27% on yesterday's closing price. The shares are subject to lock in of between 12 and 36 months from the date of issue. In the event that QC&C Methods misses its Target Profit, the Group will receive compensation from the vendors in the form of cash equal to 4x the shortfall.

Commenting on the acquisition, Robert Thomson said: "Following conversations over the past 12 months with the majority of the UK's major insurers it is clear that Personal Injury including specifically medical investigation and rehabilitation is their number one issue, costing the industry £3.5 billion a year, representing 50% of all motor claims costs. I am therefore pleased at the prospect of joining a Group that recognises Personal Injury as a key issue to be addressed and sees the value of Enzyme's work in this area. This gives a real opportunity to introduce change and reduce costs for the UK insurance industry as well as extending globally with the deregulation of other international markets."

Application has been made for the 7,500,000 New Shares to be admitted to trading on AIM. Admission of the shares is expected to occur on 5 April 2012. Following Admission Quindell will have 2,578,669,923 ordinary shares in issue. The Company has no ordinary shares held in treasury. The total of 2,578,669,923 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.

For further information:

Notes to Editors:

About Quindell Portfolio Plc

Quindell, the Brand Extension Company, helps its clients and partners to utilise their brands enabling them to achieve greater sales, provide better service and extend the brand into new product offerings and alternative routes to market.

The Group works with over 2,000 brands from SMEs to blue-chips around the globe, with solutions applying to the following Sectors & related Supply Chains:

·; Telecoms, Utilities, Retail & E-commerce

·; Finance, Insurance, Health & Legal

·; Government & Public Sector

Quindell Portfolio joined the market through Mission Capital Plc. The Group was readmitted to the market on 17 May 2011 following the acquisition of Quindell Limited. On 18 July 2011, the Company was renamed Quindell Portfolio Plc. In December 2011, Mobile Doctors Group Plc was acquired increasing run-rate revenue to over £50 million and staff levels to over 600 including our off-shore capability.

Our Solutions

In addition to extending our clients' brands, Quindell's solutions are focused on generating improvements in efficiency and effectiveness in sales and service transactions with savings of over 20% against industry norms achieved.

Our Consultancy drives the business transformation for our clients, and is supported by leading edge technology, outsourcing, membership schemes and social media via repeatable solutions.

Our Software provides cloud based industry solutions to deliver the necessary framework to meet online, office and field based sales and service expectations of our clients and their customers.

Our "Sales" Technology Enabled Outsourcing leverages our own Business & Home Advisory Service brands to provide a White Labelled proposition for partners to extend into offerings for Telecoms, Utilities, Finance, Insurance, Health and Legal Services.

Our "Service" Technology Enabled Outsourcing covers a broad range of solutions and in insurance, is already recognised as a market leader for independent medical evidence via a panel of circa 2,500 medical experts providing circa 11% of reports for UK Personal Injury claims.

For further information, please visit www.quindell.com