Completion of Acquisition of Shareholding in OTR

RNS Number : 8770U

MobilityOne Limited

08 April 2021

 

8 April 2021

MobilityOne Limited

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

Completion of acquisition of 50% shareholding in OneTransfer Remittance Sdn Bhd

Further to the announcement released on 1 March 2021, MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, is pleased to announce that, MobilityOne Sdn Bhd ("M1 Malaysia"), the Group's wholly owned operating subsidiary in Malaysia, has completed the acquisition of the 50 per cent. shareholding the Group did not already own in OneTransfer Remittance Sdn Bhd ("OTR") (the "Acquisition") and now owns the entire issued share capital of OTR.

Completion of the Acquisition follows on from M1 Malaysia receiving the requisite approvals from Bank Negara Malaysia ("BNM") (the central bank of Malaysia) and all conditions in connection with the Acquisition being satisfied. The effective date of completion of the Acquisition was 7 April 2021.

OTR is incorporated in Malaysia and provides international remittance services in Malaysia. It currently holds a remittance business licence issued by BNM and has six outlets in Malaysia.

Further details on OTR and the terms of the Acquisition can be found in the announcement released by MobilityOne on 1 March 2021.

For further information, please contact:

MobilityOne Limited   [phone]

Dato' Hussian A. Rahman, CEO www.mobilityone.com.my

[e-mail]

Allenby Capital Limited

(Nominated Adviser and Broker)  [phone]

Nick Athanas

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

 

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