21st Dec 2012 16:23
21 December 2012
Monitise plc ("Monitise" or the "Company")Grant of Options
In accordance with the Company's announcement of 3 December 2012 including reference to a revised executive incentive arrangement with a 55 pence share price target being put in place to align directors' incentives with future growth expectations, Monitise today announces that the following directors have today been granted options over ordinary shares of 1p each in the Company at an exercise price of 1p per ordinary share ("Options"):
Name of Director | Position | Number of new Options granted | Total Options held following grant | Total Options as % of Issued Share Capital |
Alastair Lukies | Chief Executive Officer | 12,000,000 | 27,031,690 |
1.8% |
Lee Cameron | Chief Commercial Officer | 4,000,000 | 10,469,958 |
0.7% |
Michael Keyworth | Chief Operating Officer | 4,000,000 | 9,844,006 | 0.6% |
The new Options have been granted under the Monitise Performance Share Plan and are subject to a performance condition that requires the average share price calculated over the one month immediately prior to 21 December 2015 and immediately following 21 December 2015 (i.e. a two month period) to be at least 55 pence. Subject to the satisfaction of the performance condition, one third of the options will normally vest on each of the third, fourth and fifth anniversary of grant and options must be exercised no later than 21 December 2022.
Contacts
Monitise Group Tel: 020 3657 0900
Tom Spurgeon, Company Secretary
Haya Herbert-Burns, Investor Relations
Canaccord Genuity Limited Tel: 020 7523 8000
Simon Bridges
Cameron Duncan
FTI Consulting Tel: 020 7831 3113
Charles Palmer
Jon Snowball
About Monitise
About Monitise
Monitise plc (LSE: MONI) is a leading technology and services company that delivers mobile banking, payments, and commerce networks worldwide. Monitise enables financial institutions and other payments companies to defend and extend their market position by protecting their existing customer relationships and transactions while enabling new forms of mobile commerce revenue.
Monitise powers bank-grade solutions that are delivered on premise, or via cloud services. The value of payments and transfers initiated via Monitise's technology platform is more than US$25bn on an annualised basis. Monitise has a global reach and unique set of partners and clients using its completely adaptable platform. More information is available at www.monitise.com
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