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

MobilityOneAnnouncement

25/07/2023 09:45

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RNS Number : 1096H  MobilityOne Limited  25 July 2023

 

25 July 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 a Form 8-K has been filed by Technology &
Telecommunication Acquisition Corporation ("TETE") on 24 July 2023,
announcing, amongst other matters, that the extension of time to 20 July 2024
to enable the Merger Exercise to be completed was approved by shareholders of
TETE in an extraordinary general meeting held on 18 July 2023. This is
available for viewing on the United States Securities and Exchange
Commission's website ("SEC").

 

On 19 October 2022, MobilityOne announced the Proposed Joint Venture with
Super Apps which, amongst other matters, stated that the Proposed Disposal is
subject to the completion of a Merger Exercise. On 27 June 2023, MobilityOne
announced that TETE had announced, inter alia, that they were extending the
deadline for completing the Merger Exercise to 20 July 2024.

 

An extraordinary general meeting will be convened in due course in order to
seek approval from TETE shareholders for the Merger Exercise itself .

 

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 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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