NARS Nationw.Acc

TIDMNARS

RNS Number : 8506O

Nationwide Accident Repair Srvs PLC

25 September 2013

25 September 2013

Nationwide Accident Repair Services PLC

("Nationwide" or "the Company")

Response to announcement by Quindell Portfolio Plc ("Quindell")

Nationwide, the largest dedicated provider in the UK of accident repair services to the insurance, fleet and retail markets, notes the announcement released today by Quindell advising that it has acquired shares representing 22.5 per cent of the Company's issued share capital. Nationwide further notes Quindell's desire to explore future opportunities for working together. Aside from being informed of Quindell's share purchases and that Quindell has no current intention of making an offer for the entire issued share capital of the Company, Nationwide can confirm that it has not yet entered into any discussions with Quindell concerning its investment in the Company.

Nationwide, which announced its half year results for the six months ended 30 June 2013 earlier today, remains focused on providing its support service solutions to its customers and the Board is confident that Nationwide's growing position in its markets leaves it well positioned over the medium term to create the leading integrated automotive support services group.

Enquiries:

 
 Nationwide Accident Repair   Michael Wilmshurst,          T: 020 3178 6378 
  Services plc                 Chief Executive              (today) 
                               David Pugh, Group Finance    T: 01993 701720 
                               Director 
 
 Biddicks                     Katie Tzouliadis/ Alex       T: 020 3178 6378 
                               Shilov 
 
 Westhouse Securities         Robert Finlay/ Antonio       T: 020 7601 6100 
                               Bossi/ Henry Willcocks 
 
 

About Nationwide

Nationwide provides automotive crash repair and accident administration services to the UK insurance industry, fleet operators and retail customers and is the largest dedicated provider of accident repair services in the UK.

The Group operates a national network of accident repair centres across England, Scotland and Wales and has dedicated mobile repair fleets which repair light damage and automotive glass. Other services include accident administration, courtesy cars and salvage management. All Nationwide's services are fully integrated and unified on a single IT platform, enabling the Group to provide market-leading standards.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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