MobilityOne Limited Australia joint venture agreement (5780O)
11 Ottobre 2021 - 8:00AM
UK Regulatory
TIDMMBO
RNS Number : 5780O
MobilityOne Limited
11 October 2021
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the UK Market Abuse Regulation. With the publication of this
announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.
11 October 2021
MobilityOne Limited
("MobilityOne", the "Company" or the "Group")
Australia joint venture agreement
MobilityOne (AIM: MBO), the e-commerce infrastructure payment
solutions and platform provider, announces that M1 AP Sdn Bhd ("M1
AP"), a wholly-owned subsidiary of the Group incorporated in
Malaysia, has entered into a joint venture cum shareholders
agreement (the "Agreement") with One M Tech Pty Ltd ("One M") to
establish a new joint venture company in Australia (the "JVco").
The purpose of the JVco is to explore e-commerce and e-payment
business opportunities in Australia.
One M is a newly registered company in Australia and its sole
shareholder is Mr Timothy Joseph Langdon, who currently holds a
management role in Southbank Capital Pty. Ltd., a boutique
investment advisory firm in Australia.
Pursuant to the Agreement, M1 AP and One M will own 51 per cent.
and 49 per cent. of the equity interest in the JVco, respectively.
The JVco will have a share capital of A$100,000 (c.GBP53,000) which
will be fully contributed by One M. Any future funding requirements
would be funded by either borrowings or advances from One M. Save
for those mentioned above, M1 AP and One M are not subject to any
other funding commitments, no exclusivity arrangements and no fixed
time period as part of the Agreement. M1 AP and One M can terminate
the Agreement at any time by offering their shareholding in the
JVco to the other respective party at a price to be agreed at
termination.
Furthermore, pursuant to the Agreement, M1 AP will provide the
payment gateway solution and the necessary technical support to the
JVco while One M will source and provide the necessary online
business platform and mobile application to market and operate the
e-payment and e-commerce businesses in Australia.
The Group does not anticipate any material revenue or earnings
contribution from the Agreement to the Group in the next 12
months.
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 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGRFFUFUSEFSEES
(END) Dow Jones Newswires
October 11, 2021 02:00 ET (06:00 GMT)
Grafico Azioni Mobilityone (AQSE:MBO.GB)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Mobilityone (AQSE:MBO.GB)
Storico
Da Set 2023 a Set 2024