Monitise PLC (MONI) - Statement regarding press speculation
RNS Number : 3042S
29 November 2012
29 November 2012
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Statement regarding press speculation
Monitise plc (LSE: MONI) ("Monitise" or the "Company" or the "Group") has
noted the press speculation regarding a possible fundraising and confirms that
the Company is in discussions with Canaccord Genuity and certain institutional
and strategic investors with regard to a proposed partially underwritten
fundraising of up to £100 million in order to take advantage of significant
opportunities represented by mobile banking, payments and commerce.
Proceeds from the proposed placing would be used to fund new Mobile Money
opportunities for financial institutions and payments companies looking to
capitalise on accelerating global demand for mobile banking and payments
services and in particular mobile commerce capabilities.
Mobile Commerce Strategy
Monitise is establishing an enhanced mobile commerce platform that provides an
integrated hub for banks to connect into new payments and commerce gateways,
reducing the complexity and cost of developing and delivering Mobile Money
solutions to their customers while driving new revenue streams through
enhanced mobile adoption. Leveraging its technology, partnerships and network,
the Group's mobile commerce platform is evolving to further connect banks,
payment processors, retailers, media partners, mobile networks, technology
partners, loyalty providers, merchant acquirers, affiliate networks, ticketing
aggregators and advertisers to create an unprecedented ecosystem for instant
and secure purchases.
Current Trading Update
· Group revenue on track to reach at least $110m in FY2013.
· Payments and transfers processed by Monitise now over $25bn annually,
versus $1bn a year ago.
· More than 18m customers now registered to Monitise Mobile Money services,
compared with 5.5m in December 2011.
· The group has a pipeline of more than 100 financial institutions via its
partners and direct sales teams looking to adopt mobile banking, payments and
commerce applications developed by Monitise.
· Further to the recently announced global alliance with information
technology business Cognizant, Monitise is also in talks with a number of
major technology businesses interested in partnering with Monitise, reselling
the Group's banking, payments and commerce solutions and collaborating on
mobile technology innovations.
· An application to move from AIM to the London Stock Exchange's main
market for listed securities is under consideration for calendar 2013.
Monitise plc Group Chief Executive Alastair Lukies said: "Our business is
seeing enormous demand for Mobile Money services. The breadth of companies
interested in working with us has never been greater and the level of consumer
engagement with Mobile Money services we have developed is hitting new highs.
The value of payments and transfers alone handled by our commercially
established technology platform is now surpassing $25bn on an annualised
basis, compared with around $1bn a year ago."
Lukies added: "The core foundations of our integrated mobile banking, payments
and commerce capabilities are now aligning at a critical time as mobile
transforms how we bank, pay and shop. The growth potential of Mobile Money,
particularly via mobile commerce, is only just now starting to be realised.
Proceeds from our proposed capital raising will be used to rapidly scale our
business and enhance our Mobile commerce capabilities. With new partnerships
and collaborations involving our technology platform, we intend to fully
execute on the opportunity of creating value for our partners, customers and
A further announcement regarding the proposed fundraising will be made in due
course as appropriate.
For further information
Tel: +44(0)203 657 0900
Duncan McIntyre, Chairman
Alastair Lukies, Chief Executive Officer
Lee Cameron, Chief Commercial Officer
Mike Keyworth, Chief Operating Officer
Tel: +44(0)203 657 0366
Tel: +44(0)203 657 0362
Canaccord Genuity Limited
Tel: +44(0)20 7831 3113
This announcement has been issued by, and is the sole responsibility of,
Monitise. No person has been authorised to give any information or to make
any representations other than those contained in this announcement and, if
given or made, such information or representations must not be relied on as
having been authorised by the Company or Canaccord Genuity Limited.
This announcement is for information purposes only and does not constitute or
form part of any offer to issue or sell, or the solicitation of an offer to
acquire, purchase or subscribe for, any securities of the Company in any
jurisdiction and should not be relied upon in connection with any decision to
subscribe for or acquire any such securities. In particular, this
announcement does not constitute an offer to sell, or a solicitation of an
offer to buy, securities in the United States. Members of the public will not
be eligible to take part in any placement of the securities of Monitise
Any securities of Monitise described in this announcement have not been, and
will not be, registered under the U.S. Securities Act of 1933, as amended (the
"US Securities Act"), or under the securities laws of any state of the United
States and may not be offered, sold, resold, transferred or delivered,
directly or indirectly, within the United States except pursuant to an
applicable exemption from, or in a transaction not subject to, the
registration requirements of the US Securities Act.
Furthermore, the securities of Monitise described in this announcement have
not been and will not be registered under the applicable laws of any of
Canada, Australia, New Zealand, Japan, the Republic of Ireland or the Republic
of South Africa and, consequently, may not be offered or sold to any national,
resident or citizen thereof.
The distribution of this document in or into jurisdictions other than the
United Kingdom may be restricted by law and therefore any person who is
subject to the laws of any jurisdiction other than the United Kingdom should
inform themselves about, and observe such restrictions. Any failure to comply
with the applicable restrictions may constitute a violation of the securities
laws of any such jurisdiction. Subject to certain exceptions, this document
is not for release publication or distribution, directly or indirectly, in or
into the United States, Canada, Australia, New Zealand, Japan, the Republic of
Ireland, the Republic of South Africa or any jurisdiction where to do so might
constitute a violation of local securities laws or regulations.
Canaccord Genuity Limited, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting as Nominated Adviser
and broker to Monitise for the purposes of the AIM Rules for Companies and the
AIM Rules for Nominated Advisers in connection with any placement of the
securities of Monitise described herein and admission of such securities and
is not acting for, and will not be responsible to, any person other than
Monitise for providing the protections afforded to customers of Canaccord
Genuity Limited or for advising any other person on any transaction or
arrangement referred to in this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
MSCEANFNADFAFEF -0- Nov/29/2012 09:34 GMT
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