17th May 2011 07:00
Mission Capital PLC
("Mission Capital" or the "the Company")
Admission to trading on AIM
17 May 2011. Mission Capital PLC ("the Company") today announces that 1,351,602,603 of its ordinary shares have been readmitted to trading on the AIM market of the London Stock Exchange under the ticker symbol "MCAP" with first dealings expected to commence at 8.00am today.
The readmission to AIM follows the Company's acquisition of the whole of the issued share capital of Quindell Limited, a reselling and sales outsourcing company with expertise in technology, telecoms, utilities, leisure and retail, which the Directors believe has significant potential for growth. On readmission, Mission Capital will have a market capitalisation of £33.32 million and an implied share price of 2.47p.
Quindell Chairman and Chief Executive Rob Terry said: "We are delighted to become a quoted company; we are firmly committed to growth, both organically and by acquisition. Becoming a quoted company is a major step forward for our continued rapid growth plans; however we will always remain focused only on growth that enhances long term sustainable EPS for our shareholders."
About Quindell
Quindell develops evolving leading practice technology, management consultancy and business processing outsourcing solutions. The Quindell solutions are primarily focused on customer acquisition, cross-selling and customer retention. For the year ended 30 December 2010 Quindell produced revenue of £4.15 million with pre-tax profits of £1.33 million.
Quindell has the following three key grouped product offerings.
Licence Fees, SaaS, Business and Technology Consultancy
The Company has developed its own Business Process Management technology platform which delivers solutions that can "Learn" and therefore improve business performance as they are used in a "Live" environment. These solutions are either sold or used as part of a management consultancy engagement and/or a business process outsourcing arrangement. This platform is also used within all of Quindell's own operating divisions.
To date the developed Quindell Business Process Management Solutions are primarily focused on customer acquisition, cross selling and customer retention and back office accounting functions whilst balancing quality of service and customer lifetime value against the price to service and the price to originally acquire the customer. To date these solutions have been deployed primarily within telecoms and utilities sales environments. Future solutions are being developed to tackle industry specific issues such as motor and household insurance claims.
Membership Price Club, Finance, Insurance, Telecoms, Utilities and Other
Quindell uses its own Business Process Management platform as an enabler for its telephone and field based sales force to sell to both retail customers and business customers. The product offerings in this area are designed to reduce the overheads or operating costs for an individual or a business client.
Leisure, Health and Retail
The Leisure and Health segment of the business is primarily based around Quindell Dining, Spa, Golf and Country Club membership. In Retail, revenues are generated from golf, fitness and spa related products. Retail also includes cross selling telecoms and other products to members. This segment primarily operates businesses that can significantly improve their operating margin from the use of Quindell's technologies and can be developed into a Franchise business model for future expansion.
Daniel Stewart is Nominated Advisor and Broker to Mission Capital.
Further information about the Mission Capital Group is available on its website www.missioncapitalplc.co.uk.
ENDS
For further information
Mission Capital | 020 7291 8807 |
Rob Terry | |
Daniel Stewart | 020 7776 6550 |
Oliver Rigby | |
Press Queries | |
Hudson Sandler | 020 7796 4133 |
Charlie Jack |
Notes to Editors
Quindell was founded in 2000 and 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 also develops and operates a leisure business model utilising its Enterprise Resource Planning solutions as a reference environment for its own technology and cross selling solutions, to be resold to third parties leisure businesses or via franchise models. Quindell provides consultancy on, and fully utilises within its own operations, online strategies, permission based marketing, membership models and cross selling to maximise revenue per customer.
For further information, please visit www.quindell.com.
Related Shares:
WTG.L