CORPORATE ACTION18 Aug 2017 13:00
Just got email below from broker
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Dear Investor,
Corporate Action – Monitise Plc - Scheme of Arrangement
Account Number: xxxxx
On 13 June 2017, the boards of Fiserv, Inc. ("Fiserv") and Monitise plc ("Monitise") announced that they had reached agreement on the terms of a recommended cash offer by Fiserv UK Limited ("Bidco") (an indirect wholly-owned subsidiary of Fiserv), for the entire issued and to be issued share capital of Monitise (the "Acquisition") at a price of 2.9 pence in cash for each Monitise Share, to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act. On 24 July 2017, the Court Meeting and the General Meeting to approve the Acquisition were postponed on Fiserv's request, in light of feedback received from certain Monitise Shareholders.
On 7 August 2017, the boards of Fiserv and Monitise announced that they had agreed the terms of an increased and final recommended cash offer to be made by Bidco for Monitise (the "Increased and Final Offer").
Monitise is pleased to announce that a supplementary circular setting out, inter alia, details of the Increased and Final Offer, notices of the Reconvened Court Meeting and the Reconvened General Meeting, a revised timetable for the Scheme and full details of the voting procedures for Monitise Shareholders (the "Supplementary Circular"), has been published.
Under the terms of the Increased and Final Offer, each Monitise Shareholder will be entitled to receive:
3.1 pence in cash per Monitise Share (the "Increased and Final Offer Price")
The Increased and Final Offer Price values the entire issued and to be issued ordinary share capital of Monitise at approximately £75 million on a fully diluted basis.
The Supplementary Circular has been made available on Monitise's website at www.monitise.com
The Reconvened Court Meeting and the Reconvened General Meeting will be held at the offices of White & Case LLP, 5 Old Broad Street, London, EC2N 1DW on 25 August 2017. The Reconvened Court Meeting will commence at 10:30 am (UK time) and the Reconvened General Meeting at 10:45 am (UK time) (or as soon thereafter as the Reconvened Court Meeting is concluded or adjourned).
On the above you will receive £xxxxxxxx for your holding.
The effective date of the scheme is 1 September 2017 and the proceeds are expected to be paid by 15 September 2017.
Regards