Monitise PLC Issue of deferred consideration (5798R)
June 30 2015 - 2:00AM
UK Regulatory
TIDMMONI
RNS Number : 5798R
Monitise PLC
30 June 2015
Monitise plc
Issue of deferred consideration
LONDON - 30 June, 2015 - 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 was
issued on 29 June 2015 pursuant to the terms of the acquisition.
This represents GBP0.4m based on the closing share price of 10.5p
on 29 June 2015. 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 3 July 2015. Following Admission and based on
the Company's current issued share capital, Monitise will have
2,168,231,436 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.
33 million consumers have registered for Monitise's patented
technology to 'bank anywhere', 'pay anyone' and 'buy anything',
accounting for $101bn of payments, purchases and transfers
annually. Additionally, Monitise-designed high-engagement apps
across multiple industry verticals and email subscribers to the
Monitise Content consumer business total more than 49 million. More
information is available at www.monitise.com. For views and
insights from the Monitise team about the world of Mobile Money,
visit www.monitise.com/insights.
Company Secretary
Tom Spurgeon Tel: +44(0)20 3657 0900
tom.spurgeon@monitise.com
Investor Relations
Richard Johnson, Michelle Singleton Tel: +44(0)203 657 0900
investorrelations@monitise.com
Canaccord Genuity
Simon Bridges Tel: +44(0)20 7523 8000
Emma Gabriel
Brunswick
Jonathan Glass, Jon Drage Tel: +44(0)20 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
END
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