UK electronic money institution application update

RNS Number : 5842N

MobilityOne Limited

23 January 2023

 

Prior to publication, the information contained within this announcement was deemed by the Group to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

23 January 2023

MobilityOne Limited

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

Submission of UK electronic money institution application

MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, provides the following update in respect of the Group's proposed expansion of its business in the UK through M-One Tech Limited, the Company's wholly-owned subsidiary.

Further to MobilityOne's announcement on 23 December 2022, MobilityOne is pleased to announce that the Group has now re-submitted its revised application to the Financial Conduct Authority (the "FCA"), the financial regulatory body in the UK, for authorisation as an electronic money institution to provide e-money services in the UK (together the "FCA Application").

As previously announced by the Company, the Group received feedback from the FCA, in late May 2022, to include additional information in the FCA Application. In view of this and after further consideration, the Group withdrew the FCA Application on 1 June 2022.

While there can be no guarantee of a successful outcome following the re-submission of the Group's revised FCA Application, the Group's revised FCA Application takes into account the feedback received from the FCA previously.

The Company will release further announcements as and when appropriate.

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 / Vivek Bhardwaj

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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