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

MobilityOneAnnouncement

27/06/2023 07:15

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RNS Number : 9691D  MobilityOne Limited  27 June 2023

 

27 June 2023

MobilityOne Limited

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

 

Further Update on Proposed Joint Venture with Super Apps

 

MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and
platform provider, notes the definitive proxy statement filed by Technology
& Telecommunication Acquisition Corporation ("TETE") on 26 June 2023 (the
"TETE Proxy Filing") seeking to, amongst other matters, extend the deadline to
complete the Merger Exercise from 20 July 2023 to 20 July 2024. The TETE Proxy
Filing is available for viewing on the United States Securities and Exchange
Commission's website.

 

The Company will release further announcements as and when appropriate.

 

Part of the text of TETE's announcement is set out below:

 

"You are cordially invited to attend an extraordinary general meeting of
Technology & Telecommunication Acquisition Corporation, a Cayman Islands
exempted company (the "Company," "TETE," "we," "us" or "our"), which will be
held on July 18, 2023, at 11:00 a.m., New York Time (the "Extraordinary
General Meeting"). Due to the public health impact of the COVID-19 outbreak
and to support the health and well-being of TETE shareholders and other
meeting participants, the Extraordinary General Meeting will be held in person
at the offices of Technology & Telecommunication Acquisition Corporation,
C3-2-23A, Jalan 1/152, Taman OUG Parklane, Off Jalan Kelang Lama, 58200 Kuala
Lumpur, Malaysia and via virtual meeting format setting. You can participate
in the Extraordinary General Meeting, vote, and submit questions via live
webcast by visiting https://www.cstproxy.com/sm2023 and entering the voter
control number located under the bar card code on your proxy card, voting
instruction form or notice included in the proxy materials.

 

The attached Notice of the Extraordinary General Meeting and proxy statement
describe the business TETE will conduct at the Extraordinary General Meeting
and provide information about TETE that you should consider when you vote your
shares. As set forth in the attached proxy statement, the Extraordinary
General Meeting will be held for the purpose of considering and voting on the
following proposals:

 

● Proposal No. 1 - Extension Amendment Proposal - To amend, by special
resolution, TETE's Amended and Restated Memorandum and Articles of Association
(the "Memorandum and Articles of Association") in the form set forth in Annex
A to the accompanying proxy statement to give the Company the right to extend
the date by which it has to consummate a business combination (the
"Combination Period") up to twelve (12) times for an additional one (1) month
each time, from July 20, 2023 to July 20, 2024 (as extended, the "Extended
Date") (i.e., for a period of time ending 30 months after the consummation of
its initial public offering (the "IPO")) (the "Extension Amendment Proposal");

 

● Proposal No. 2 - Trust Agreement Amendment Proposal - To amend, by
ordinary resolution, TETE's investment management trust agreement, dated as of
January 14, 2022 (the "Trust Agreement"), by and between the Company and
Continental Stock Transfer & Trust Company (the "Trustee"), to allow the
Company to extend the Combination Period up to twelve (12) times for an
additional one (1) month each time from July 20, 2023 to the Extended Date
(the "Trust Agreement Amendment") by depositing into the Trust Account, for
each one-month extension, the lesser of (a) $144,000 and (b) $0.045 for each
Class A Ordinary Share (as defined below) issued and outstanding (the
"Extension Payment") after giving effect to the Redemption (the "Trust
Agreement Amendment Proposal");

 

● Proposal No. 3 - The Founder Share Amendment Proposal - To amend, by
special resolution, the Memorandum and Articles of Association to provide for
the right of a holder of the Company's Class B ordinary shares, par value
$0.0001 per share (the "Class B Ordinary Shares"), to convert into Class A
ordinary shares, par value $0.0001 per share, of the Company (the "Class A
Ordinary Shares" or "Public Shares") on a one-for-one basis at any time and
from time to time prior to the closing of a business combination at the
election of the holder (the "Founder Share Amendment," and such proposal, the
"Founder Share Amendment Proposal"); and

 

● Proposal No. 4 - Adjournment Proposal - To approve, by ordinary
resolution, the adjournment of the Extraordinary General Meeting to a later
date or dates, if necessary, to permit further solicitation and vote of
proxies if, based upon the tabulated vote at the time of the Extraordinary
General Meeting, there are not sufficient votes to approve the Extension
Amendment Proposal, the Trust Agreement Amendment Proposal, or the Founder
Share Amendment Proposal (the "Adjournment Proposal").

 

Each of the Extension Amendment Proposal, the Trust Agreement Amendment
Proposal, the Founder Share Amendment Proposal and the Adjournment Proposal is
more fully described in the accompanying proxy statement. Please take the time
to read carefully each of the proposals in the accompanying proxy statement
before you vote. The purpose of the Extension Amendment Proposal, the Trust
Agreement Amendment Proposal and, if necessary, the Adjournment Proposal, is
to allow TETE additional time to complete an initial business combination (the
"Business Combination"). You are not being asked to vote on a Business
Combination at this time."

 

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 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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