WTG.L Regulatory News (WTG)

RNS Release Embargoed until 7.00 am 24 April 2012

Quindell Portfolio Plc

("Quindell" or the "Group")

Recommended Offer for Ai Claims Solutions plc ("Ai Claims") by Quindell Portfolio Plc

Further to the announcement on 2 April 2012 of the Offer, Quindell and Ai Claims announce that the Board of Ai Claims is recommending the Offer. The Offer Document containing the letter of recommendation from the Board of Ai Claims as well as the full terms and conditions of the Offer and the related Form of Acceptance are being posted today (or otherwise made publicly available) to Ai Claims Shareholders.

To accept the recommended Offer in respect of Ai Claims Shares, the Form of Acceptance should be completed for shares held in certificated form, signed and returned or electronic acceptances made in accordance with the instructions set out in the Offer Document as soon as possible and, in any event so as to be received or settled by no later than 1.00 p.m. (London time) on 15 May 2012.

Definitions used in this announcement have the same meaning as those used in the announcement of 2 April 2012, unless specified otherwise.

For further information:

Cenkos Securities plc, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for Quindell and no one else in connection with the contents of this announcement, and accordingly, Cenkos will not be responsible to anyone other than Quindell for providing the protections offered to clients of Cenkos nor for providing advice in relation to any matter referred to herein.

Shore Capital & Corporate Limited, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for Ai Claims and no one else in connection with the contents of this announcement, and accordingly, Shore Capital will not be responsible to anyone other than Ai Claims for providing the protections offered to clients of Shore Capital nor for providing advice in relation to any matter referred to herein.

Disclosure requirements under the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1 per cent. or more of any class of relevant securities of Ai Claims or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the Offer Period and, if later, following the announcement in which any paper offeror is first identified.

An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) Ai Claims and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. (London time) on the 10th business day following the commencement of the Offer Period and, if appropriate, by no later than 3.30 p.m. (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of Ai Claims or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1 per cent. or more of any class of relevant securities of Ai Claims or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of Ai Claims or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) Ai Claims and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of Ai Claims or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by Ai Claims and by any offeror and Dealing Disclosures must also be made by Ai Claims, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of Ai Claims and any offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the Offer Period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.

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. In April 2012 Ai Claims Solutions Plc became a subsidiary of the Group, increasing run rate revenue to over £150 million and staff levels to circa 1,000.

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 alternative offerings. Weknow that many insurance brokers and other brands do not have the resources or capability to fully cross-sell the full range of insurance and other lifestyle event related products to their clients.We work with these brands to sell their own add-ons or give them access to ours including add on offerings withinTelecoms, Utilities, Finance, Insurance, Health and Legal Services.We are constantly researching new products coming in to the market and enjoy excellent relations with insurers and underwriters as well as telecoms, utilities and other service providers; testing these offerings through our own Business and Home Advisory Service brands.

Our "Service" Technology Enabled Outsourcing covers a broad range of solutions and in insurance, is already recognised as a market leader. Within insurance, the Group's strategy is to work with the sector to provide ethical end to end claims management solutions, which provide market leading customer service with an ethos to control claims cost inflation. The Group manages motor claims from the initial incident through to final resolution for a number of the UK's leading insurance companies, brokers, fleet companies and automotive businesses. The Group provides circa 200,000 core services to insurance policy holders each year including accident management services, cost containment, claims recovery, vehicle repair, personal injury claims management, medico-legal reporting, rehabilitation and replacement vehicles where the Group has access to 300,000 vehicles through its rental partners.

For further information, please visit www.quindell.com