24 July 2017
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Monitise shareholders holding 5.24 percent approve Fiserv takeover

17 July 2017  |  2798 views  |  0 Source: Monitise

On 13 June 2017, Fiserv released an announcement in accordance with Rule 2.7 of the Code (the "Offer Announcement") relating to a recommended cash offer for the entire issued and to be issued share capital of Monitise at a price of 2.9 pence per share, valuing Monitise at approximately £70 million.

In the Offer Announcement, it was stated that Fiserv had received irrevocable undertakings from the Monitise Directors to vote in favour of the Scheme at the Court Meeting and the Resolutions to be proposed at the General Meeting in respect of a total of 3,584,326 Monitise Shares (representing, in aggregate, approximately 0.15 per cent. of Monitise's ordinary share capital).

Further to the Offer Announcement and the posting of the Scheme Document to Monitise Shareholders on 3 July 2017, it is today announced that Fiserv and Monitise have received an irrevocable undertaking to vote in favour of the Acquisition from Fatih Isbecer in respect of 61,850,028 Monitise Shares, representing approximately 2.67 per cent. of Monitise's ordinary share capital, and a letter of intent from Visa, Inc. in respect of 55,946,391 Monitise Shares, representing approximately 2.41% of Monitise's ordinary share capital.

Together with the other irrevocable undertakings received by Fiserv as disclosed in the Offer Announcement, Fiserv and Monitise have now received irrevocable undertakings and letters of intent to vote in favour of the Acquisition in respect of aggregate holdings of 121,380,745 ordinary shares, which represent approximately 5.24% per cent. of Monitise's ordinary share capital.

A summary of the irrevocable undertakings and the letter of intent is contained in Appendix I to this announcement.

As set out in the Scheme Document, the latest times for receipt of forms of proxy for the Court Meeting and the General Meeting are 10.30 am and 10.45 am respectively on 24 July 2017.

Unless otherwise stated defined terms used in this announcement shall have the same meaning as given to them in the Scheme Document.

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