Monitise (MONI) was one of those stocks for speculators in the past. One of those technology shooting stars that got to a ridiculous valuation under former CEO and founder Alastair Lukes. But despite numerous fund raisings it never managed to reach profitability. The business model chosen never turned out to be of value and the market needs also changed. So he has departed, a new management team is in place, and substantial restructurings have been implemented. The company has also revised ...
Today I attended the Annual General Meeting of Monitise PLC in Holborn Gate, London. The meeting was well attended with over 40 shareholders present.
Monitise’s business revolves around “Mobile Money solutions” which basically means the use of a mobile phone to bank anywhere, pay anyone and buy anything. Monitise has a global reach with offices in the UK, USA, India and Asia Pacific (an RNS was released today, indicating that Monitise had taken full ownership of its Asia Pacific Joint Venture).
Some numbers ...
Monitise’s (AIM:MONI, http://www.monitise.com/ ) AGM was held at 10:00am on
Thursday 11th October in Central London. Monitise’s annual report can be found here:
attended, together with Roger Lawson (RL) and some other ShareSoc members. The
meeting was well attended, with around 20 shareholders present.
Before moving on to details of the meeting, I will say a little about the company and
what it does, as the company does not make it easy for non-technologists to
Monitise’s Business and Investment Case
Given that Monitise does not make profits ...