MONI Monitise

TIDMMONI

RNS Number : 0545B

Monitise PLC

02 October 2015

Monitise plc (The "Company")

Option awards

Monitise plc (LSE: MONI) announces that, on 2 October 2015, options over ordinary shares of 1p each in the Company ("Ordinary Shares") have been awarded to directors and employees of the Company in respect of the Monitise Performance Share Plan (the "Scheme") with a vesting date of 5 December 2018. In order to maximise the effectiveness of current incentives and to operate within the available headroom constraints, as part of this grant the Remuneration Committee has also cancelled certain previous awards in respect of the Scheme.

The options granted to Executive Directors and options held by Executive Directors that have been cancelled are as follows:

Director Opening Options Options Resultant % ISC

                                         Options1          Awarded2         Cancelled       Options 

Lee Cameron 7,800,000 9,750,000 (6,500,000) 11,050,000 0.5%

(80% salary)

Brad Petzer 4,500,000 4,500,000 (4,500,000) 4,500,000 0.2%

(50% salary)

The new options awarded to the Executive Directors as set out above will vest on 5 December 2018 if performance conditions relating to revenue and EBITDA targets have been achieved for the financial year ended 30 June 2018. The options vest on a sliding scale between threshold and stretch targets. In line with the amended Scheme Rules all new awards have malus and clawback conditions attached. The options have an exercise price of 1 pence per Ordinary Share and must be exercised no later than 2 October 2025.

The cancelled options represent those options amended on 25 May 2015, which were due to vest between 5 December 2016 and 5 December 2018.

Notes

(1) L Cameron opening option position includes 1,300,000 vested but unexercised options

(2) Calculation based on closing Monitise plc share price of 2.68p on 1 October 2015

About Monitise

Monitise plc (LSE: MONI) is a digital technology company creating new ways to connect, interact and transact. Our platforms, products and ideas lead to smarter, better experiences that help financial services companies and brands across many other sectors forge closer relationships with their customers. Through our cloud-based approach, design consultancy and content business, we make everyday actions easier for millions of people. Find out more at www.monitise.com.

Enquiries:

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 

Brunswick

Jonathan Glass, Jon Drage Tel: +44(0)20 7404 5959

This information is provided by RNS

The company news service from the London Stock Exchange

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October 02, 2015 05:30 ET (09:30 GMT)

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