Prior to publication, the information contained within this
announcement was deemed by the Group to constitute inside
information for the purposes of Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310. With the publication of
this announcement, this information is now considered to be in the
public domain.
27 June
2024
MobilityOne
Limited
("MobilityOne", the
"Company" or the
"Group")
Delay in publication of
Annual Report and Accounts
Trading
update
MobilityOne (AIM: MBO), the
e-commerce infrastructure payment solutions and platform provider,
announces that its audited annual report and accounts for the year
ended 31 December 2023 ("FY
2023") will not be finalised ahead of the deadline of 30
June 2024, as stipulated under Rule 19 of the AIM Rules for
Companies.
The preparation of the Company's
financial statements for FY 2023 has been ongoing. Notwithstanding
this, despite the best efforts of all parties, the auditors in both
the UK and Malaysia require further time to complete their audits
and the procedures with respect thereto. Accordingly, the Company
expects the accounts to be published by the end of July
2024.
The primary reason for the delay in
the audit being completed relates to further audit work that the
Company's auditors in the UK have requested to be undertaken in
connection with the Company's 49% interest in Sincere Acres Sdn Bhd
("Sincere"), which is a
holding company for Hati International Sdn Bhd, a healthcare
information systems provider in Malaysia. The Company's interest in
Sincere was acquired in FY 2023 and further details can be found in
the Company's announcements released on 29 September 2023 and 8
March 2024. MobilityOne's interest in Sincere will not be
consolidated in the Group accounts. However, it will be held as an
associated company on the Group's balance sheet.
Based on the unaudited accounts that
have been prepared and audited to date, the Company anticipates
reporting revenue of £241.6 million for FY 2023 (year ended 31
December 2022: revenue of £233.76 million) as a result of increased
demand from the Group's main products and services, namely the mobile phone prepaid airtime reload and bill
payment business through the Group's banking channels (i.e. mobile
banking and internet banking) and electronic data capture terminals
as well as third parties' e-wallet applications.
As a result of an increase in cost of sales, administrative expenses, finance
costs as well as the Group's share of its 49%-owned associated
company's loss, namely Sincere, the Group anticipates registering a
loss after tax of approximately £1.4
million in FY 2023 (year ended 31 December 2022: profit after tax
of £16,628).
As at 31 December 2023, the Group
had cash and cash equivalents (including
fixed deposits) of approximately £2.7
million (31 December 2022: cash and cash equivalents of £5.02
million) while the secured loans and borrowings from financial
institutions increased to approximately £4.2 million (31 December
2022: £3.87 million) mainly due to payment
for higher cost of sales and higher administrative
expenses.
These headline financials for FY
2023 remain subject to change and completion of the audit
process.
This delay to the publication of the
audited FY 2023 annual accounts means that trading in the Company's
ordinary shares on AIM will be suspended with effect from 7:30 a.m.
on 1 July 2024 and will remain suspended until the publication of
its audited FY 2023 annual accounts.
The Company will release further
announcements as and when appropriate.
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
