REG - MobilityOne Limited - UK electronic money institution application update

MobilityOneAnnouncement

23/12/2022 08:00

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RNS Number : 8909K  MobilityOne Limited  23 December 2022

23 December 2022

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, provide 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 30 September 2022, the Group announced its intention to re-submit in the
fourth quarter of 2022 an 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 "FCA Application").

 

The Group has made significant progress in respect of the underlying
preparatory work in relation to the FCA Application. Notwithstanding this,
external personnel availability during the festive period has meant that
onboarding the requisite services is taking longer than expected, accordingly,
it is now expected that the Group will re-submit the revised FCA Application
reflecting the FCA's feedback in the first quarter of 2023.

 

The Company 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 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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