REG - MobilityOne Limited - Update on Proposed Joint Venture with Super Apps

MobilityOneAnnouncement

19/01/2023 11:00

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RNS Number : 2838N  MobilityOne Limited  19 January 2023

 

19 January 2023

MobilityOne Limited

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

 

Update on Proposed Joint Venture with Super Apps

 

MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and
platform provider, notes that further to Company's announcement on 13 December
2022 highlighting the preliminary proxy statement filed by Technology &
Telecommunication Acquisition Corporation ("TETE") on 12 December 2022 (the
"TETE Proxy Filing"), the extraordinary general meeting of TETE (the "TETE
EGM") was held on 18 January 2023. The webcast recording of the TETE EGM is
available for viewing in accordance with the instructions originally outlined
in the TETE Proxy Filing.

 

MobilityOne notes that all resolutions as outlined in the TETE Proxy Filing
have been approved at the TETE EGM. A full breakdown of the results of the
TETE EGM will be filed for viewing on the United States Securities and
Exchange Commission's website in due course.

 

Proposed Joint Venture with Super Apps

 

MobilityOne is pleased to note the passing of all resolution at the TETE EGM,
the passing of which will allow, amongst other matters, TETE additional time
to complete the Merger Exercise. Notwithstanding the results of the TETE EGM,
as previously outlined by MobilityOne, TETE is required to hold a further
extraordinary general meeting to approve proposals relating to the Merger
Exercise itself. Accordingly, MobilityOne's Proposed Disposal continues to
remain subject to the completion of the Merger Exercise, which is currently
expected to complete, at the latest, by 20 July 2023.

 

As previously announced by the Company on 19 October 2022, the payment of the
consideration to MobilityOne in relation to the terms of the Proposed Disposal
is subject to the completion of the Merger Exercise and such consideration
payments will be dependent on timings for completion of the Merger Exercise.

 

The Company will release further announcements as and when appropriate.

 

Unless otherwise defined herein, the capitalised defined terms used in this
announcement have the same meaning as those used in the Company's announcement
on 19 October 2022.

 

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 provides e-commerce infrastructure payment solutions and platforms
through its proprietary technology solutions. The Group has developed an
end-to-end e-commerce solution which connects various service providers across
several industries such as banking, telecommunication and transportation
through multiple distribution devices including EDC terminals, mobile devices,
automated teller machines ("ATM") and internet banking. The Group's technology
platform is flexible, scalable and designed to facilitate cash, debit card and
credit card transactions from multiple devices while controlling and
monitoring the distribution of different products and services.

 

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

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