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25 Jul 2011 07:01
Mobile Doctors Group PLC
("Mobile Doctors" or "the Company")
Director's Dealing
The Board of Mobile Doctors announces that Ubiquity Capital LLP ("Ubiquity"), a company in which Jason Cale, Non-Executive Director of Mobile Doctors, has an interest, has today sold 1,387,448 shares in the Company (representing approximately 8.3% of the issued share capital of Mobile Doctors) to Quindell Portfolio plc ("Quindell"). The shares have been acquired in exchange for the issue by Quindell of 8,093,680 ordinary shares of 1 penny each. The share exchange was based on the average mid market closing price for the last 20 business days of 3p for Quindell and the current mid market price of 17.5p for Mobile Doctors valuing the stake at £242,810.
The Company also notes that Jason Cale has been appointed to the board of Quindell with immediate effect. Jason will remain on the board of Mobile Doctors.
Mathew Game, CEO commented: "we are delighted that Quindell has become a shareholder, and we look forward to evaluating the potential opportunities that Quindell will bring to Mobile Doctors given their expertise in the insurance sector."
Rob Terry, Chief Executive Officer of Quindell said: "The general area of insurance claims fulfilment and management is a market that is experiencing a period of renewed uncertainty and change, in particular following the publication of the Jackson review into civil legal costs. We believe that this therefore represents an excellent opportunity for us to work with companies such as Mobile Doctors that are well established and respected in this space, and that are seen as 'insurer friendly' to generate new revenue opportunities for Quindell and Mobile Doctors with both insurers and related supply chain partners."
Enquiries:
Mobile Doctors Group PLC | |
Matthew Game, Chief Executive Officer | Tel: 020 8787 2093 |
Daniel Stewart & Company PLC (Nomad & Broker) Oliver Rigby | Tel: 020 7776 6550 |
Notes to Editors:
·; Mobile Doctors, established in 1989, has grown organically to become one of the leading suppliers of medico-legal reports for personal injury claims in the UK. It provides independent and objective medical evidence via a national panel of medical experts and therapists.
·; Mobile Doctors has a database of approximately 2,500 medical experts covering many areas of the UK and currently provides approximately 67,000 reports out of approximately 600,000 reports required annually.
·; In addition to its core medical report service, Mobile Doctors also provides ancillary services such as arranging MRI scans, X-Rays, CT scans, and ultrasounds and rehabilitation services such as physiotherapy, hospital treatment and cognitive-behavioural-therapy.
·; Mobile Doctors Group PLC listed on AIM on 18 July 2007
About Quindell Portfolio Plc
Quindell, which was founded in 2000, 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 provides consultancy on, and fully utilises its technology within its own Business Process Outsourcing operations, online strategies, permission based marketing, membership models and cross selling to maximise revenue per customer.
For further information, please visit www.quindell.com
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