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

MobilityOneAnnouncement

01/03/2024 15:30

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RNS Number : 3310F  MobilityOne Limited  01 March 2024

 

1 March 2024

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 that a preliminary proxy statement/prospectus has
been filed by Tete Technologies Inc, a wholly owned subsidiary of Technology
& Telecommunication Acquisition Corporation ("TETE"), on 29 February 2024
(the "TETE Proxy Filing") which is available for viewing on the United States
Securities and Exchange Commission's website ("SEC").

 

The TETE Proxy Filing has been filed in draft with the SEC. The purpose of the
TETE Proxy Filing is to provide TETE shareholders with information on the
proposals ahead of seeking approval from TETE shareholders for the Merger
Exercise itself. An extraordinary general meeting will be convened in due
course for this purpose by TETE once the TETE Proxy Filing is in complete form
and approved by the SEC.

 

As separately announced by the Company on 1 March 2024, the payment of the
consideration to MobilityOne in relation to the terms of the Share Sale
Agreement between M1 Malaysia and Super Apps concerning the disposal by M1
Malaysia of a 60% shareholding in the Group's wholly-owned non-core subsidiary
OneShop Retail Sdn Bhd ("1Shop") to Super Apps (the "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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