Monitise PLC Issue of Deferred Consideration (7383X)

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: [phone] 
                                                  910 563 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 24, 2017 02:00 ET (07:00 GMT)