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

MobilityOneAnnouncement

03/07/2024 09:15

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RNS Number : 9699U  MobilityOne Limited  03 July 2024

 

3 July 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 an amended preliminary proxy
statement/prospectus has been filed by Tete Technologies Inc, a wholly owned
subsidiary of Technology & Telecommunication Acquisition Corporation
("TETE"), on 1 July 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 announced by the Company on 1 March 2024 and 2 April 2024, the payment of
the consideration to MobilityOne Sdn Bhd ("M1 Malaysia"), the Group's
wholly-owned operating subsidiary in Malaysia, in relation to the terms of
the Share Sale Agreement between M1 Malaysia and Super Apps Holdings Sdn Bhd
("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 to Super
Apps is subject to the completion of the Merger Exercise and such
consideration payments will be dependent on the 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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