Monitise PLC Issue of Deferred Consideration (5777D)
July 07 2016 - 8:07AM
UK Regulatory
TIDMMONI
RNS Number : 5777D
Monitise PLC
07 July 2016
7 July 2016
Monitise plc
Issue of Deferred Consideration
LONDON - 7 July, 2016 - 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 43,770,351 new ordinary shares
of 1p each ("Ordinary Shares") in respect of outstanding earn-out
consideration, retention payment and held back consideration has
today been issued pursuant to the terms of the acquisition. This
represents approximately GBP1.1m based on the closing share price
of 2.46p on 6 July 2016 and concludes all payments due for the
acquisition.
The new shares represent an increase of approximately 1.9% 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 11 July 2016. Following Admission and based on
the Company's current issued share capital, Monitise will have
2,295,713,364 Ordinary Shares in issue.
About Monitise
Monitise plc (LSE: MONI) is a leader in enabling accelerated
digital innovation within industries where security, compliance and
scalability are mandated. Our platforms, toolkits, products and
ideas draw upon over a decade of experience of building and
operating world class digital banking, and support all stages of a
digital solution from strategy to concept design, development and
operations. Find out more at www.monitise.com.
Company Secretary
Tom Spurgeon Tel: +44(0)20 3657 0900
Canaccord Genuity (NOMAD)
Simon Bridges, Cameron Duncan, Emma Gabriel Tel: +44(0)20 7523
8000
This information is provided by RNS
The company news service from the London Stock Exchange
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