Bought in today... have missed out on the impressive gains so far but solid progress is being made here and a good story developing so it looks good for more gains in the near future (imho)....

Quindell Portfolio, the brand extension company, says trading has continued positively in the period under review, building on the strong performance delivered by the Group in the first half.

The company expects to be significantly ahead of market expectations for the 15 month period ending 31 December 2011.

The Group announced back in October that it had won contracts with six established brands and one exciting new digital brand within the insurance, telecoms and utilities sectors, including for the first time, solar energy; and that revenues for 2011 were expected to be ahead of market expectations.

Since then, the Group has won further major contracts with established brands within the telecoms, utilities, on-line education and insurance sectors for both its technology enabled business process outsourcing division and software solutions division.

In aggregate, these contract wins could contribute over £6 million of annualised revenues. In addition, the Group has acquired two further businesses, Maine Finance and, most recently, Mobile Doctors Group Plc.

Margin performance has also been strong and, for 2011, margins are expected to be between 35 and 40 per cent. within its technology enabled business process outsourcing operations

Perhaps the perception is that is not much value apart from that?

CAPITAL RETURN UPDATE

Quindell Plc (AIM:QPP.L) announces that, pursuant to previously stated commitments, the Board of Directors of Quindell plc (the "Board") has decided to pursue a two stage distribution of 100 pence per share, with an initial, Court approved, capital repayment to shareholders of 90 pence per share and expects to seek Court approval for this to be made to shareholders in December 2015 at a total cost of approximately £415 million.

In consultation with its legal and financial advisers, and following detailed internal and external consideration of the Company's actual and prospective contingent creditors, the Board considers that an initial, Court approved, capital repayment to shareholders of 90 pence per share is both prudent and appropriate. The Board's intention is to make the second stage payment to shareholders of a further 10 pence per share in cash following the anticipated release at the end of 2016 of the £50m (which would represent approximately 11 pence per share) warranty escrow put in place as part of the disposal of the Professional Services Division ("PSD"). The Company will also seek to make this payment to shareholders in a tax and cost efficient manner.

In addition, and as previously announced, the Company will make further distributions as contingent consideration from the disposal of the PSD is realised. As previously detailed, the Company has performed a preliminary valuation exercise based on the information available at the point of disposal and has determined that a prudent estimate of the current value of the contingent consideration is approximately £39.6m.

The Board confirms that there have been no material changes to the value of the Company's assets, nor its actual or prospective, contingent creditors (including to regulatory bodies or prospective litigation) since previously detailed to the market. The trading assumptions of the Group's businesses remain in line with previously stated expectations.

The Company expects to issue a circular relating to the capital repayment to shareholders on 11 November 2015, with a Court hearing to follow on 16 December 2015. On such timetable, the Company would convene the required General Meeting on 26 November 2015.

CIRCULAR RE RETURN OF CAPITAL AND RELATED MATTERS

HIGHLIGHTS

· The proposed Return of Capital to shareholders in December 2015 will be of approximately £414 million in aggregate.

· The effect of the proposed Reduction of Capital and Return of Capital will be that for every fully paid ordinary share of 15 pence each held at the Record Date (as defined in the Circular), a shareholder will receive 90 pence in cash.

· Trading in Ordinary Shares ex-entitlement to Capital Return is expected to be on 18 December 2015 with the expected dispatch of cheques to Shareholders or crediting of Shareholders' CREST accounts (as appropriate) in respect of Return of Capital entitlements, on or around 31 December 2015.

· Conditional on the approval of the Reduction of Capital and the Return of Capital at the General Meeting and by the Court, the Consolidation would consolidate the Company's ordinary shares so that every 10 ordinary shares with a nominal value of 1 penny (after the Reduction in Capital) would become 1 ordinary share of 10 pence (such shares having the same rights and being subject to the same restrictions (save as to nominal value) of the existing ordinary shares).

· Conditional on the approval of shareholders, the Company's name will be changed to Watchstone Group plc.

· Following the Return of Capital, in addition to its operating businesses, the Company expects to retain approximately £90 million in cash. The Group has a further £55 million held in escrow accounts relating to the Disposal and the Company retains rights to contingent consideration estimated to have a current value of approximately £39.6 million.


EXPECTED TIMETABLE OF EVENTS


Latest time and date for receipt of Forms of Proxy

10:00 a.m. on Tuesday 24 November 2015


General Meeting

10:00 a.m. on Thursday 26 November 2015

Court Hearing

10:00 a.m. on Wednesday 16 December 2015

Record Date

6:00 p.m. on Thursday 17 December 2015

Ordinary Shares commence trading ex-entitlement to Return of Capital

8:00 a.m. on Friday 18 December 2015

Registration of Court Order and Effective Date of Return of Capital

Friday 18 December 2015

Consolidation Record Date

6:00 p.m. on Friday 18 December 2015

Share Consolidation Effective and Consolidated Ordinary Shares commence trading

8:00 a.m. on Monday 21 December 2015

Dispatch of cheques to Shareholders or Shareholders' CREST accounts credited (as appropriate) in respect of Return of Capital entitlements



On or around 31 December 2015





Notes

These dates (except those of the receipt of Forms of Proxy and of the General Meeting) are estimates only, being subject to agreement of hearing dates with the Court. The timetable assumes that the General Meeting is not adjourned as a result of there being no quorum, or for any other reason. If there is an adjournment, all subsequent dates are likely to be later than those shown. Any changes will be notified to Shareholders by an announcement on the Regulatory News Services of the London Stock Exchange.

All references to time in this announcement are to London time.

it always amuses or even bewilders me that companies change their names from time to time ...... great for the peripheral companies who handle all the changes to the stationery, IT crap and all the other paraphernalia, but the smell remains the same

lest you do not know, QPP is now know under WTG

Dear clients,

IG has been notified that on the 18th December 2015 Watchstone Group PLC will be paying a Return of Capital of 90 pence per share followed by a 1 for 10 stock consolidation. Clients are reminded that if they have non-guaranteed stops on their positions these are not adjusted for any Return of Capital. Therefore, you may wish to adjust your stops accordingly.

Please note that this information may be subject to change at any time.