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
+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