Monitise Regulatory News (MONI)

Thursday 11 October 2012

Board and Executive Management Changes

Monitise plc (LSE: MONI) ("Monitise", the "Company" or the "Group"), the technology and services company delivering mobile banking, payments and commerce networks worldwide, announces the following Board and Executive Management changes.

John Brougham, Chief Financial Officer, is retiring from the Board with immediate effect and Mike Keyworth, Chief Operating Officer, is joining the Board as Executive Director with immediate effect.

John Brougham, Chief Financial Officer, has decided to retire and focus on non-executive commitments. John has been an instrumental member of the management team in seeing Monitise through a significant stage of growth and leaves the Company in a strong position.

We are delighted that Nick Taylor, as Group Finance Director, will continue to run the finance function and is stepping up to provide direct support to the Executive Directors. Nick has been with Monitise for over two years during which time the business' operations in the UK, Asia Pacific and North America have expanded significantly. Nick is a chartered accountant and previously spent more than 13 years at KPMG.

The Company also announces the following Board Changes today:

Mike Keyworth, Chief Operating Officer of Monitise, joins the Board as an Executive Director. Mike joined Monitise in early 2004 as the Delivery Director for our flagship UK launch and was invited to take up the post of Chief Information Officer in October 2005 before being appointed Chief Operating Officer in 2011. Mike has more than 20 years' experience at some of the world's leading financial institutions and has helped grow companies from the ground up as well as managing significant global change programmes.

Elizabeth Buse of Visa Inc. steps down as a Non-Executive Director today having served for more than two years on the Monitise Board. Visa rotates its appointments to other companies' boards from time to time and we are delighted to welcome Ellen Richey, Chief Enterprise Risk Officer at Visa Inc., as a Non-Executive Director with immediate effect. Prior to joining Visa Inc. in 2007, Ellen served in senior enterprise risk management roles at Washington Mutual Inc. and Providian Financial Corporation. Earlier in her career, Ellen was a partner in the San Francisco law firm Farella, Brown & Martel, where she specialised in corporate, real estate and financial institution matters.

Duncan McIntyre, Chairman of Monitise commented:

"I am delighted to welcome, Mike and Ellen to the Board. These individuals are excellent additions to the Board, bringing with them a wealth of experience in payments, technology and risk management."

"I would like to thank Elizabeth for her excellent service to the Board over the past two years and her guidance, as a senior member of the Visa Inc. executive team, in helping drive the continued strategic success of the Monitise Group.

"At this time I would also like, on behalf of the Company and Board, to extend my gratitude to John Brougham for his commitment and significant contribution to Monitise. He has been a valued member of the management team and we wish John all the best in his future endeavours."

Michael Derek Keyworth is aged 52 and has an interest in 636,877 ordinary shares in the Company and 5,844,006 options over ordinary shares in the Company.

Mary Ellen Richey, née Edes, aged 63, is currently the Second Vice President of the Board of Directors of the Girl Scouts of Northern California.

There are no further disclosures required pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies in respect of the appointments.

About Monitise

Monitise plc (LSE: MONI) is a leading technology and services company that delivers mobile banking, payments, and commerce networks worldwide. Monitise enables financial institutions and other payments companies to defend and extend their market position by protecting their existing customer relationships and transactions while enabling new forms of mobile commerce revenue.

Monitise powers bank-grade solutions that are delivered on premise, or via cloud services, handling more than a billion transactions and over US$20bn worth of payments and transfers on an annualised basis. Monitise has a global reach and unique set of partners and clients using its completely adaptable platform. More information is available at www.monitise.com.

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