Monitise PLC Issue of Deferred Consideration (3425P)
February 17 2016 - 6:23AM
UK Regulatory
TIDMMONI
RNS Number : 3425P
Monitise PLC
17 February 2016
17 February 2016
Monitise plc
Issue of deferred consideration
Monitise plc (LSE: MONI, "Monitise" or the "Company"), announces
the following update regarding the payment of deferred
consideration for the acquisition of Monitise Yazilim A.S.
(formerly Pozitron Yazilim A.S.), originally announced on 3
February 2014.
Deferred consideration comprising 8,599,146 new ordinary shares
of 1p each ("Ordinary Shares") was issued today pursuant to the
terms of the acquisition. This represents GBP0.15m based on the
closing share price of 1.78p on 16 February 2016. This payment is
the first of two payments related to 2015 deferred consideration.
Remaining payments will fall due in respect of the period to and
including January 2017, with total earn-out consideration dependent
on performance against earn-out targets.
The new shares represent an increase of approximately 0.4% 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 22 February 2016. Following Admission and based
on the Company's current issued share capital, Monitise will have
2,212,986,858 Ordinary Shares in issue.
About Monitise
Monitise plc (LSE: MONI) is a leader in enabling accelerated
digital innovation within industries where security, compliance and
scalability are mandated. Our platforms, toolkits, products and
ideas draw upon over a decade of experience of building and
operating world class digital banking, and support all stages of a
digital solution from strategy to concept design, development and
operations. Find out more at www.monitise.com.
Company Secretary
Tom Spurgeon Tel: +44(0)20 3657 0900
Canaccord Genuity (NOMAD)
Simon Bridges, Cameron Duncan, Emma Gabriel Tel: +44(0)20 7523
8000
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
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