REG - MobilityOne Limited - UK electronic money institution application update

MobilityOneAnnouncement

11/05/2023 07:00

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RNS Number : 0194Z  MobilityOne Limited  11 May 2023

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11 May 2023

MobilityOne Limited

("MobilityOne", the "Company" or the "Group")

 

Update on UK electronic money institution application

 

MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and
platform provider, provides the following update in respect of the Group's
proposed expansion of its business in the UK through M-One Tech Limited, the
Company's wholly-owned subsidiary.

 

On 23 January 2023, the Group announced the submission of the Group's revised
application to the Financial Conduct Authority (the "FCA"), the financial
regulatory body in the UK, for authorisation as an electronic money
institution to provide e-money services in the UK (together the "Revised FCA
Application").

 

The Group has received feedback from the FCA in relation to the Revised FCA
Application requesting, amongst other matters, further information in relation
to certain disclosures relating to M-One Tech Limited's proposed business
plan. While this feedback is welcomed, the Group has now accordingly withdrawn
its Revised FCA Application.

 

The Group is reviewing its proposed business plan in the UK and its options in
relation to submitting a further revised FCA application in due course which
addresses the FCA's latest feedback.

 

The Group will release further announcements as and when appropriate.

 

For further information, please contact:

 

MobilityOne
Limited
+6 03 89963600

Dato' Hussian A. Rahman,
CEO                                                        www.mobilityone.com.my

har@mobilityone.com.my

 

Allenby Capital Limited

(Nominated Adviser and
Broker)                                                        +44
20 3328 5656

Nick Athanas / Vivek Bhardwaj

 

 

About the Group:

 

MobilityOne is one of the leading virtual distributors of mobile prepaid
reload and bill payment services in Malaysia. With connections to various
service providers across industries such as banking, telecommunications,
utilities, government agencies, and transportation, the Group operates through
multiple distribution channels including mobile wallets, e-commerce sites, EDC
terminals, automated teller machines, kiosks, and internet & mobile
banking. Holding licenses in regulated spaces including acquiring, e-money,
remittance and lending, the Group offers a range of services to the market,
including wallet, internet, and terminal-based payment services, e-money,
remittance, lending, and custom fintech ecosystems for communities. The
Group's flexible, scalable technology platform enables cash, debit card, and
credit card transactions from multiple devices while providing robust control
and monitoring of product and service distribution.

 

For more information, refer to our website at www.mobilityone.com.my
(http://www.mobilityone.com.my)

 

 

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