Update on Proposed Joint Venture with Super Apps

MobilityOne Limited

18 June 2024

 

18 June 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 Form 8-K report was filed by Technology & Telecommunication Acquisition Corporation ("TETE") on 13 June 2024 (the "TETE Filing") which is available for viewing on the United States Securities and Exchange Commission's website ("SEC").

The TETE Filing notes, amongst other matters, the extension of the deadline to complete the Merger Exercise from 20 July 2024 to 20 January 2025.

Part of the text of TETE's announcement is set out below:

"Subsequent to the approval by the shareholders of TETE of the Amendment to TETE's Amended and Restated Memorandum and Articles of Association (the "Charter Amendment"), on June 7, 2024, TETE filed the Charter Amendment with the Registrar of Companies in the Cayman Islands. Pursuant to the Charter Amendment, TETE has the right to extend the period which it has to complete a business combination by up to seven (7) times for an additional one (1) month each time from June 20, 2024 to January 20, 2025 by depositing into its trust account, for each one-month extension, the lesser of (a) $60,000 and (b) $0.02 for each ordinary share outstanding after giving effect to the redemption of public shares in connection with the Charter Amendment in accordance with the terms of TETE's amended and restated memorandum and articles of association."

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                                                                         [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 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

 

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