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