7 Jul 2015 07:00
RNS Number:
Monitise PLC
7 July 2015
Monitise plc
Issue of earn-out consideration
LONDON - 7 July, 2015 - Monitise plc (LSE: MONI, "Monitise" or the "Company"), announces the following update regarding the payment of earn-out consideration for the Grapple Mobile Ltd acquisition (now Monitise Create Limited), originally announced on 5 September 2013.
Earn-out consideration for the second of the two phases, comprising 31,647,195 New Ordinary Shares of 1p each ("New Ordinary Shares") has today been issued pursuant to the terms of the acquisition. This includes the exercise of 3,462,982 warrants with an exercise price of 1p per Ordinary Share. The total value of shares issued equates to £3.1m based on the closing share price of 9.95p on 6 July 2015. In addition to the consideration issued today, a further 411,281 warrants related to the acquisition, each with an exercise price of 1p per Ordinary Share, are now exercisable.
The New Ordinary Shares represent an increase of approximately 1.5% in the number of Monitise shares in issue and 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 10 July 2015. Following Admission Monitise will have 2,199,878,631 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, products and services to securely connect people with their money. Monitise's digital agency designs and delivers high-engagement apps across multiple industry verticals.
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.
Contacts:
Monitise Group Tel: 020 3657 0900
Tom Spurgeon, Company Secretary
Richard Johnson, Michelle Singleton, Investor Relations
Canaccord Genuity Limited Tel: 020 7523 8000
Simon Bridges
Emma Gabriel
Brunswick Tel: 020 7404 5959
Jonathan Glass
Jon Drage