1st Apr 2015 17:25
LONDON (Alliance News) - Monitise PLC Chief Executive Elizabeth Buse Wednesday bought 500,000 shares in the mobile payments company, according to a statement.
Buse, who joined Monitise in June 2014 having previously spent 16 years at Visa Inc, now has a beneficial interest in 1.0 million Monitise shares, a 0.05% stake in the company. In addition, Lee Cameron, Buse's deputy and the company's chief commercial officer, bought 250,000 Monitise shares on the same day, giving him a total of 288,880 shares or a 0.01% stake in the company. The shares were purchased at 13.25 pence.
The share purchases come one week after Monitise said it was no longer for sale after deciding to remain an independent company.
The mobile banking and payment services company had initiated a formal sales process in January but said that non of the "expressions of interest" received had "fully recognised the longer-term value of Monitise".
On the same day, Buse became the company's sole chief executive, with founder and co-chief executive Alastair Lukies stepping down from the board. Lukies will now be available to give "strategic" advice to Buse, even though he no longer holds a board position.
Monitise shares closed up 1.1% at 13.14 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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