WTG.L Regulatory News (WTG)

For immediate release

Quindell Portfolio Plc

("Quindell" or the "Group") 

Further Investment in Nationwide Accident Repair Services plc

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 the Company has acquired further shares in Nationwide Accident Repair Services plc (AIM:NARS.L) ("NARS"), the largest dedicated provider of accident repair services in the UK, increasing its shareholding by 2.8% to 25.3%.

1,230,000 shares, representing approximately 2.8% of the issued share capital of NARS were acquired on 27 September 2013 from the shareholder listed in the table below in exchange for the issue by Quindell of 6,359,100 new Ordinary Shares of 1 penny each in the Company, a ratio of 5.17 new Quindell shares for each NARS share.

Note 1: As investment manager subject to necessary consents

At the closing mid market price on 26 September 2013 for Quindell shares of 16.5 pence, the share exchange values each ordinary share in NARS at 85.3 pence, representing a 34.3% premium on the closing mid market price of 63.5 pence per NARS share on the same date, or a 31.4% premium on the average closing mid market price of 64.9 pence per NARS share over the last six months.

Application has been made for 6,359,100 shares to be admitted to trading on AIM. Admission of the shares is expected to occur on 3 October 2013. Following Admission, Quindell will have 4,314,651,747 ordinary shares in issue. The Company has no ordinary shares held in treasury. The total of 4,314,314,747 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 change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Rob Terry, Founder and Executive Chairman of Quindell said: "We are pleased to be announcing this increase to our shareholding, taking it to 25.3% which is clearly a key level of influence to have reached in relation to any future shareholder decisions regarding the business, and we will continue to look at building our holding to 29.9%.

As previously stated, having a direct ownership stake in a repair services networks will enable us to take advantage of the volume we manage for our clients. Following an initial meeting with the Chief Executive and Finance Director of NARS yesterday we remain extremely confident of the value creation opportunity for both NARS' and Quindell's shareholders by the two companies working in collaboration in the market even though no specific agreements have been reached at this stage."

For further information:

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 enters the second half of 2013 with a run rate of gross sales of more than £350 million and with approaching £50 million of EBITDA earned in the first half of 2013. Our award winning Business Transformational, Software, Consulting and Outsourcing Solutions are recognised as delivering significant savings and additional sales to our customers every year.

For further information, please visit www.quindell.com