Monitise PLC Issue of Deferred Consideration (7383X)
February 24 2017 - 1:00AM
UK Regulatory
TIDMMONI
RNS Number : 7383X
Monitise PLC
24 February 2017
24 February 2017
Monitise plc
Issue of deferred consideration
Monitise plc (LSE: MONI, "Monitise" or the "Company"), announces
the following update regarding the payment of deferred
consideration for the acquisition of Monitise Yazilim A.S.
(formerly Pozitron Yazilim A.S.), originally announced on 3
February 2014.
Deferred consideration comprising 20,824,078 new ordinary shares
of 1p each ("Ordinary Shares") was issued on 23 February 2017
pursuant to the terms of the acquisition. This represents GBP0.5m
based on the closing share price of 2.44p on 23 February 2017. This
payment is the final payment relating to the earn-out.
The new shares represent an increase of approximately 0.9% 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 1 March 2017. Following Admission and based on
the Company's current issued share capital, Monitise will have
2,316,970,708 Ordinary Shares in issue.
About Monitise
Monitise plc is a specialist in financial services technology
focused on accelerating the digital transformation of banks and
financial institutions.
Monitise FINkit(R) platform and associated capabilities builds
upon over a decade of experience in delivering digital services to
banks and financial services partners. Whether it is augmenting
legacy systems with minimal impact on those systems, a greenfield
project, or strategic digital transformation, FINkit(R) delivers
innovation at speed, safely and securely.
Find out more at www.monitise.com.
FINkit(R) is a registered trademark in the UK.
Contacts:
Monitise plc Tel: +44(0)20
Lee Cameron, Chief Executive Officer 3657 0900
Gavin James, Chief Operating Officer
Canaccord Genuity (NOMAD) Tel: +44(0)20
Simon Bridges, Andrew Buchanan 7523 8000
Attila Consultants Tel: +44(0)20
Charles Cook, Nita Shah 7947 4489
Tel: +44(0)7710
910 563
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOESEUESDFWSESE
(END) Dow Jones Newswires
February 24, 2017 02:00 ET (07:00 GMT)
Monitise (LSE:MONI)
Historical Stock Chart
From Apr 2024 to May 2024
Monitise (LSE:MONI)
Historical Stock Chart
From May 2023 to May 2024