The Channel logo


By | Kelly Fiveash 8th June 2007 15:06

Morse splits to AIM high

Outlines plan to Monitise future

Morse has confirmed details of its demerger and the separate listing of its mobile banking business Monitise on London's Alternative Investment Market (AIM).

As well as its plan to list on AIM, Monitise, which provides mobile phone software for users to access their banking details, hopes a share placing will help it raise £20m to fund investment.

The firm wants to be a key player in what is an emerging industry and has 12 million UK users through existing contracts with the likes of HSBC Holdings PLC.

It said it aims to reach an ambitious target of 33 million users by the end of the summer and added that the decision to split the two firms was made to "allow each to pursue its own independent strategy".

Monitise chief executive Alastair Lukies said:

"The proposed admission to AIM and subsequent placing will provide the appropriate financial structure to exploit the unique position we hold in this high growth, global market and to retain our leading position as the market evolves."

Morse shares are up 1.2 per cent on the London Stock Exchange. ®

alert Send corrections


Frank Jennings

What do you do? Use manual typwriters or live in a Scottish croft? Our man advises
A rusty petrol pump at an abandoned gas station. Pic by Silvia B. Jakiello via shutterstock

Trevor Pott

Among other things, Active Directory needs an overhaul
Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella


League of gentlemen poster - Tubbs and Edward at the local shop. Copyright BBC
One reselling man tells his tale of woe