BRIEF-Monitise says pays about 40 pct of total earn-out consideration

July 30 Wed Jul 30, 2014 10:04am EDT

July 30 (Reuters) - Monitise Plc

* Earn-out consideration for first of two phases, comprising 17,815,505 new ordinary shares of 1p each has today been issued pursuant to terms of acquisition

* This represents £7.7m and approximately 40 pct of total maximum earn-out consideration based on closing share price of 43.25 p on 29 July 2014

* Remaining earn-out consideration potentially falls due in approximately twelve months' time if performance targets continue to be achieved

* New shares represent an increase of approximately 0.9 pct in number of monitise shares in issue Source text for Eikon: Further company coverage: