MobilityOne Limited Termination of proposed acquisition of TPR (2207W)
21 Abril 2021 - 11:13AM
UK Regulatory
TIDMMBO
RNS Number : 2207W
MobilityOne Limited
21 April 2021
21 April 2021
MobilityOne Limited
("MobilityOne", the "Company" or the "Group")
Termination of proposed acquisition of Tanjung Pinang Resources
Sdn Bhd
Further to the announcements released by the Group on 14
December 2020 and 1 March 2021, MobilityOne (AIM: MBO), the
e-commerce infrastructure payment solutions and platform provider,
announces that MobilityOne Sdn Bhd ("M1 Malaysia"), the Group's
wholly owned operating subsidiary in Malaysia, has today entered
into an agreement with the vendors of Tanjung Pinang Resources Sdn
Bhd ("TPR") to terminate the proposed acquisition by M1 Malaysia of
the entire issued share capital of TPR (the "Acquisition").
As a result of the Group's recent acquisition of OneTransfer
Remittance Sdn Bhd, M1 Malaysia and the vendors of TPR have
mutually agreed not to proceed with the Acquisition.
A nominal deposit of RM15,000 (equivalent to c. GBP2,600) was
paid to the vendors of TPR at the time of the Acquisition agreement
being entered into in December 2020. Under the terms of the
termination agreement entered into today the vendors of TPR have
agreed to refund this deposit to M1 Malaysia within three months of
today's date.
Further details on TPR and the agreement originally entered into
with TPR can be found in the announcement released by MobilityOne
on 14 December 2020.
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
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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END
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