7th Jul 2015 09:29
LONDON (Alliance News) - Monitise PLC, an AIM-listed mobile banking and payments company, Tuesday said it is issuing shares under an earn-out payment for Grapple Mobile Ltd, which was acquired in September 2013.
Monitise, which designs the mobile apps banks make available to their customers, said it is issuing 31.6 million shares, valued at GBP3.1 million based on the 9.95 pence closing price on Monday this week. The shares being issued include the exercise of about 3.5 million warrants with at a price of 1p per share.
In addition, a further 411,281 warrants related to the acquisition can now be exercised at 1p per share.
Monitise shares were up 0.5% at 10.00 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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