30 Jun 2015 07:00
Monitise plc
Issue of deferred consideration
LONDON - 30 June, 2015 - Monitise plc (LSE: MONI, "Monitise" or the "Company"), announces the following update regarding the payment of deferred consideration for the acquisition of the Markco Media businesses, originally announced on 26 June 2014.
Deferred consideration comprising 3,571,429 new ordinary shares of 1p each ("Ordinary Shares") in respect of retention payments was issued on 29 June 2015 pursuant to the terms of the acquisition. This represents £0.4m based on the closing share price of 10.5p on 29 June 2015. The remaining retention payments, earn-out consideration and held back consideration will fall due in respect of the period to and including 30 June 2016, with total earn-out consideration dependent on performance against earn-out targets.
The new shares represent an increase of approximately 0.2% 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 3 July 2015. Following Admission and based on the Company's current issued share capital, Monitise will have 2,168,231,436 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 and services to securely connect people with their money.
33 million consumers have registered for Monitise's patented technology to 'bank anywhere', 'pay anyone' and 'buy anything', accounting for $101bn of payments, purchases and transfers annually. Additionally, Monitise-designed high-engagement apps across multiple industry verticals and email subscribers to the Monitise Content consumer business total more than 49 million. 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.
Company Secretary
Tom Spurgeon Tel: +44(0)20 3657 0900
tom.spurgeon@monitise.com
Investor Relations
Richard Johnson, Michelle Singleton Tel: +44(0)203 657 0900
investorrelations@monitise.com
Canaccord Genuity
Simon Bridges Tel: +44(0)20 7523 8000
Emma Gabriel
Brunswick
Jonathan Glass, Jon Drage Tel: +44(0)20 7404 5959