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Hello,
This Rns confirms whats have been stated in the form 4/A 2. There is a background section where you got info of what happened before the deal was announced, it says this:
On May 20, 2022, Wan Heng Chee held an initial call with Dato Hussian A. Rahman, the Chief Executive Officer of MobilityOne, to discuss a possible acquisition or strategic joint venture arrangement with MobilityOne or its affiliates.
On May 25, 2022, Wan Heng Chee and Dato Hussian A. Rahman met to further discuss the terms of a potential business arrangement. During this meeting, Wan Heng Chee proposed acquiring 100% of OneShop Retail for cash consideration and entering into an agreement with MobilityOne to continue to obtain MobilityOne’s support in operating the business after consummation of such acquisition.
And also this:
The reason why TETE did not directly acquire the 60% interest in OneShop Retail and the point of acquiring the interest indirectly through Super Apps was that:
(1) prior to the introductory meeting between Tek Che Ng and Wan Heng Chee, Super Apps was already in discussion with MobilityOne regarding the acquisition of an ownership interest in OneShop Retail;
(2) a key aspect of Super Apps’ strategy in pursuing the joint venture with MobilityOne was the growth potential that could be unlocked through the collaboration agreement with MyIsCo, which agreement was already being negotiated by Super Apps when Wan Heng Chee was introduced to Tek Che Ng; and
(3) the execution of the deal between MobilityOne, MyIsCo and Super Apps was made possible by The Bradbury Group’s network of relationships and TETE would not have been able to identify and arrange the joint venture opportunity with MobilityOne and the collaboration arrangement with MyIsCo.
Basically Super Apps and MBO were previously in discussions to buy OneShop prior of the possibility of making the company public via TETE.
IMO the completion of the disposal is for the following reason:
To make the JV happen with Super Apps either TETE gets the regulatory approvals or not.(which was the initial plan)
If TETE dont get the approval we wouldn't know which should be the scope of the payment which I think will be negotiated later(MBO haves a clausule to buy back if price is not good).
In any ways, TETE going through or not I think this will play out good.
Regards.
Yes agree that’s how I see it. Nothings changed except superapps has our tech, which is a great sign
20p beckons
My takeaway is that this part of this particular project is merely being confirmed (which is good)......Sure we have no control over Tete...(which was previously stated).....so nothing has changed...other than pragmaticly moving fwd. with SuperApps.
Plenty more projects besides! Bargain SP! GLA
Ok yes so surely that’s a positive RNS?
Theyve given their IP/tech or whatever to SuperApps
The disposal is to Superapps
Disposed to TETE?
They’ve disposed the 60%. Probably so both parties can begin developing on superapps (there’s jobs on mbo careers section for software engineers with code SUPP-APP)
So, if merger goes ahead the payment terms stand as before.
If it doesn’t, the 60% disposal can be taken back for a nominal value.
Its an “as you were” RNS in reality.
We await merger and further news
Guessing you have bought back Bunsen so they will be dumped again for 5% watching
Surely thats positive?!
Theyve given them 60% already, clear sign its going ahead
I still suspect they will get paid in TETE shares rather than cash, then it will remain to be seen if they can find buyers for the shares.
I do not get this, I was expecting this to be flying now, is this panic, it feels like panic
As they've disposed early but still get paid later?
RNS out all sounds good why are people selling ?
Who cares what you think bunsen you no longer hold MBO, bloody pump and dumpers like you can bugger off. Imagine taking all that risk on a wide spread just to see again, did you actually make any money....parasites
It’s literally nothing
It’s says they’ll do it in 15 days
TETE Stock price not affected
Probably nothing because they’ll just submit it.
I see their website had a nice revamp
They’ve got 15 days to submit. Not sure what happens after that.
I see TETE have been unable to file its Annual Report
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=318114491&type=PDF&symbol=TETE&cdn=1adb1f6b5e4b5e3fac8d9ca4aef7a28f&companyName=Technology+%26+Telecommunication+Acquisition+Corporation&formType=NT+10-K&formDescription=Notification+of+inability+to+timely+file+Form+10-K+405%2C+10-K%2C+10-KSB+405%2C+10-KSB%2C+10-KT%2C+or+10-KT405&dateFiled=2024-02-28
It doesn’t matter how many times you say this over and over again it will keep happening on aim Dave. It’s been happening since day dot., just market is so illiquid now it’s harder for folk who try it.
Anyway., let’s keep it positive on MBO. We can’t control the numpties buy and sell buttons
Honestly there's a few of these idiots trading now. Seen it in Agl all the time they buy multiple lots same second and dump them again and never for any profit. I've never seen such a stupid market in 30 years as now caused by day traders who are jittery as hell. 3 x 50k picked up within seconds yesterday and sold today for no profit because it's not flying, I honestly wish all these people would go bankrupt they are killing this game, all you see now is buys and then the same stock sold again no wonder stocks struggle to move up now. Anyway they will be crying when the news lands. This is one of the best bargains on the exchange. £8 mil market cap, existing low margin business with £200-300 mil, new 49% venture in Sincere, then Super Apps is making traction and people are selling...I shake my head every day at people selling my stocks. It's like selling £20 notes for £5 this game in some stocks...well that is my opinion...99% have absolutely no intention of holding any stock more than 3 days max now
Or rollover, or transfer. The fact that the timestamp is identical makes me think it’s not 2 sells
2 x 75k dumped the exact same second , looks like that 50k buyer was it yesterday was one person who is now dumping.
So many idiot traders now, 100k buy earlier 7.4p..7000 buy 7.9p...107000 sell 7.56p would not surprise me.
They cannot see past their noses to what value lies in stocks, they just jump in and out and either make a tiny profit or lose loads trying to beat the mm's with wide spread stocks like MBO...I look forward to the day soon the herd are piling in at 20p+
So many positives with this company, if they can deliver what’s in plan or even a chunk of it this will rerate to a more realistic and positive share price!
Https://x.com/hati_intl/status/1762431418414596456?s=46
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