REG - MobilityOne Limited - Update in relation to Sincere Acres Sdn Bhd

MobilityOneAnnouncement

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RNS Number : 8436L  MobilityOne Limited  17 December 2025

17 December 2025

MobilityOne Limited

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

 

Update in relation to Sincere Acres Sdn Bhd

 

MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and
platform provider, provides the following update in relation to Sincere Acres
Sdn Bhd ("Sincere").

 

On 4 October 2023, the Company announced, amongst other matters, that
MobilityOne Sdn Bhd ("M1 Malaysia"), the Group's wholly-owned operating
subsidiary in Malaysia, had completed the acquisition of a 49% equity interest
in Sincere for a cash consideration of RM30,000,000. It was further announced
that whilst the first tranche, representing RM2.0 million, had been paid by M1
Malaysia to United Flagship Development Sdn Bhd (the "Vendor"), the second
tranche, representing the balance of RM28.0 million (the "Second Tranche"),
was required to be paid by M1 Malaysia by 8 March 2024 (the "Second Tranche
Payment Date").

 

The Second Tranche Payment Date has been subject to several prior extensions,
as announced by the Company most recently on 15 September 2025.

 

On 16 December 2025 the Vendor agreed with M1 Malaysia to further extend the
Second Tranche Payment Date for payment of the Second Tranche plus accrued
interest to 28 February 2026 (the "Extended Second Tranche Payment Date").

 

As part of this extension, M1 Malaysia has agreed to pay the Vendor in cash
the accrued interest for the period from 1 December 2025 to 28 February 2026
totalling RM705,753 in three equal monthly instalments in December 2025,
January 2026 and February 2026. In line with the Second Tranche payment terms,
any payment made in relation to the Second Tranche will continue to be subject
to an interest charge of 10% per annum.

 

All other terms of the acquisition of Sincere are expected to remain
unchanged.

 

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, white label
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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