6 Sep 2013 07:00
6 September 2013
Monitise plc
(the "Company")
Directors' Dealings, Option Exercises and Grants
Directors' Dealings and Option Exercises
The Company announces that, on 5 September 2013, the following Directors of the Company exercised options over ordinary shares of 1p each in the Company ("Ordinary Shares") at an exercise price of 1 pence per Ordinary Share.
Director | Number of options exercised | Exercise price |
Alastair Lukies | 5,000,000 | 1 pence |
Lee Cameron | 3,638,268 | 1 pence |
Mike Keyworth | 3,112,316 | 1 pence |
After six years since the Company came to AIM, the founding executive management team are realising a portion of their long term incentives and still retain the majority of their equity interests as an ongoing incentive to continue to deliver further shareholder value. Part of the share sales for the executive directors are to fund PAYE liabilities directly arising from the option exercises.
Following the option exercises, the Directors of the Company listed below sold Ordinary Shares on 5 September 2013. The share sales are summarised as follows:
Director | Number of Ordinary Shares sold | Average sale price per Ordinary Share |
Alastair Lukies | 6,815,470 | £0.501 |
Lee Cameron1 | 4,153,694 | £0.501 |
Mike Keyworth2 | 3,670,543 | £0.501 |
Duncan McIntyre | 5,209,213 | £0.501 |
1 267,432 of Lee Cameron's shares are held in his wife's name
2 500,000 of Mike Keyworth's shares are held in his wife's name
The directors continue to be interested in the following total Ordinary Shares and options following the transactions detailed above and the grant of options summarised below:
Director | Total Ordinary Shares and Options | Total Shares and Options as % of Issued Share Capital |
Alastair Lukies | 26,809,282 | 1.7% |
Lee Cameron | 7,870,570 | 0.5% |
Mike Keyworth | 7,610,340 | 0.5% |
Brad Petzer | 4,017,857 | 0.2% |
Duncan McIntyre | 18,766,933 | 1.2% |
Mr Lukies' total interest is split between a holding of 777,592 Ordinary Shares, representing approximately 0.05 per cent of the Company's issued share capital, and 26,031,690 options over Ordinary Shares. Mr Cameron's total interest is split between a holding of 38,880 Ordinary Shares, representing approximately 0.002 per cent of the Company's issued share capital, and 7,831,690 options over Ordinary Shares. Mr Keyworth's total interest is split between a holding of 78,650 Ordinary Shares, representing approximately 0.005 per cent of the Company's issued share capital, and 7,531,690 options over Ordinary Shares. Mr Petzer's total interest is split between a holding of 17,857 Ordinary Shares, representing approximately 0.001 per cent of the Company's issued share capital, and 4,000,000 options over Ordinary Shares. Mr McIntyre's interest is of 18,766,933 Ordinary Shares representing approximately 1.2 per cent of the Company's issued share capital.
Following the above option exercises, it is expected that Monitise will have 1,610,072,144 Ordinary Shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
Grant of options
The directors of the Company named below were granted options on 5 September 2013 over ordinary shares of 1p each in the Company. Note that these grants have been included in the table of total holdings above.
Director | Number of options granted | Exercise Price | Performance Condition |
Alastair Lukies | 4,000,000 | 1p | 70p share price |
Lee Cameron | 1,000,000 | 1p | 70p share price |
Mike Keyworth | 800,000 | 1p | 70p share price |
Brad Petzer | 4,000,000 | 1p | 55p share price |
The new options for Alastair Lukies, Lee Cameron and Mike Keyworth have been granted under the Monitise Performance Share Plan and vest at the end of a three year term from date of grant if the average share price over the three month period immediately prior to vesting is at least 70 pence.
The options granted to Brad Petzer under the Monitise Performance Share Plan form part of a joining commitment. The performance condition is in line with the prior grant made to the other Executive Directors on 21 December 2012 at a target price of 55p. Subject to the satisfaction of the performance condition, one third of the options will normally vest on each of the third, fourth and fifth anniversary of grant.
The options granted above to all directors must be exercised no later than 5 September 2023.
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 utilise Monitise's technology platforms and services to securely connect people with their money.
Already 24 million consumers benefit from our patented technology to 'bank anywhere', 'pay anyone' and 'buy anything', accounting for $50bn of payments, purchases and transfers annually. More information is available at www.monitise.com.
Contacts:
Monitise Group Tel: 020 3657 0900
Tom Spurgeon, Company Secretary
Haya Herbert-Burns, Investor Relations
Canaccord Genuity Limited Tel: 020 7523 8000
Simon Bridges
Cameron Duncan
FTI Consulting Tel: 020 7831 3113
Charles Palmer
Jon Snowball