Monitise PLC Issue of Deferred Consideration (8652A)
December 29 2014 - 12:18PM
UK Regulatory
TIDMMONI
RNS Number : 8652A
Monitise PLC
29 December 2014
Monitise plc
Issue of deferred consideration
LONDON - 29 December, 2014 - Monitise plc (LSE: MONI, "Monitise"
or the "Company"), announces the following update regarding the
payment of deferred consideration for the acquisition of the Markco
Media businesses, originally announced on 26 June 2014.
Deferred consideration comprising 3,571,429 new ordinary shares
of 1p each ("Ordinary Shares") in respect of retention payments has
today been issued pursuant to the terms of the acquisition. This
represents GBP0.9m based on the closing share price of 25.75p on 24
December 2014. The remaining retention payments, earn-out
consideration and held back consideration will fall due in respect
of the period to and including 30 June 2016, with total earn-out
consideration dependent on performance against earn-out
targets.
The new shares represent an increase of approximately 0.2% in
the number of Monitise shares in issue. The new Ordinary Shares
will rank pari passu with the existing Ordinary Shares in the
Company. Application has been made for the new Ordinary Shares to
be admitted to trading on the AIM market of the London Stock
Exchange ("Admission") and it is expected that Admission will
become effective on 5 January 2015. Following Admission and based
on the Company's current issued share capital, Monitise will have
2,135,721,292 Ordinary Shares in issue.
About Monitise
Monitise (LSE: MONI) is a world leader in Mobile Money -
banking, paying and buying with a mobile device. Leading banks,
payments companies, retailers and mobile networks use Monitise's
technology platforms and services to securely connect people with
their money.
More than 30 million consumers have registered for Monitise's
patented technology to 'bank anywhere', 'pay anyone' and 'buy
anything', accounting for $88bn of payments, purchases and
transfers annually. Additionally, apps designed by the Group's
Monitise Create and MEA divisions have been downloaded 30 million
times. More information is available at www.monitise.com
Investor Relations
Andrew Griffin, Haya Herbert-Burns Tel: +44(0)203 657 0366
investorrelations@monitise.com
Media Relations
Gavin Haycock, Anna Howard Tel: +44(0)203 657 0373
press@monitise.com
Company Secretary
Tom Spurgeon Tel: +44(0)20 3657 0900
tom.spurgeon@monitise.com
Canaccord Genuity
Simon Bridges Tel: +44(0)20 7523 8000
Cameron Duncan
FTI Consulting Tel: +44(0)20 3727 1000
Charles Palmer
Rob Mindell
This information is provided by RNS
The company news service from the London Stock Exchange
END
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