8 March
2024
MobilityOne
Limited
("MobilityOne", the
"Company" or the
"Group")
Update in relation to Sincere
Acres Sdn Bhd
MobilityOne (AIM: MBO), the
e-commerce infrastructure payment solutions and platform provider,
provides the following update in relation to Sincere Acres Sdn Bhd ("Sincere").
On 4 October 2023, the Company
announced, amongst other matters, that MobilityOne Sdn Bhd ("M1 Malaysia"), the Group's wholly-owned
operating subsidiary in Malaysia, had completed the acquisition of
a 49% equity interest in Sincere for a cash consideration of
RM30,000,000. It was further announced that whilst the first
tranche, representing RM2.0 million, had been paid by M1 Malaysia
to United Flagship Development Sdn Bhd (the
"Vendor"), the
second tranche, representing the balance of RM28.0 million (the
"Second Tranche"), is
required be paid by M1 Malaysia by 8 March 2024 (the "Second Tranche Payment
Date").
In line with the Second Tranche
payment terms outlined in the Company's announcement on
4 October 2023, the Company has today notified the
Vendor to extend the Second Tranche Payment Date by a
further 6 months to 8 September 2024 (the "Extended Second Tranche Payment
Date").
Accordingly, any payment made in
relation to the Second Tranche will now be subject to an interest
charge of 10% per annum. The balance amount
payable for the Second Tranche (including any interest charge)
shall be reduced by RM1.0 million if the payment is made by the
Extended Second Tranche Payment Date.
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 4 October
2023.
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, whiteabel 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
