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More buys coming through...ticking along nicely
Did a dummy sell there on HL - bid has moved up to 5.76 for 7k
31k buy just went through. Interesting day.....
Sorry Davey you are quite correct re debt.
Up 46% intra day - I haven't seen that for several years. It seems to have been downhill all that time. Maybe there's good news on the horizon?
Fingers crossed!
Trying to get you to sell nearly a penny under buy price? Mmm let me think about that lol
Yep it's been one of my best stocks to trade but do not panic sell for tiny gains, look for triple digit gains when it goes it really moves. They have a lot of fingers in pies for market cap. You are wrong about the debt newgrange but it is covered by the cash balance
Pure spec on my part but is TETE considering a bid for MBO?
Here's hoping!
Also, no debt, cash in bank, new deals recently, and SuperApps deal with Tete imminent.
SP way undervalued IMHO
I've traded this share many times over the past few years. Normally when it spikes it retraces but the sells today are not deflating the price. Looks like someone is stake building.
Also, directors have substantial holdings - always a good sign
DYOR
Over 6p to buy now
Can't buy even at 6p ??
Is anyone else's HL down ?
I cannot buy MBO PYC or ITS
In 2020 I bought size at 3.3-4p, I sold from 12p to 40p on the massive spike where it did 1000% intraday which to my knowledge was a record for a UK penny stock. While that will not happen again there is value down here and it is a good bet to do 100% from these levels possibly 200-300% it's always been good value
Many thanks both you
With £5mln cash at the last results and potentially £11mln coming plus a joint venture with a large USA partner this could be worth an investment
Does very much look like its entering an advanced stage after months of waiting. Time to load up. This one rises extremely fast. I remember the time it hit 40p in a flash.
Hi Laura,
This is the SEC filing published yesterday which has a lot of interesting information:
https://www.sec.gov/Archives/edgar/data/1900679/000149315223026666/formprem14a.htm
Super Apps Holdings Sdn Bhd
Super Apps Holdings Sdn Bhd (“Super Apps”), a Malaysian private limited company, was incorporated on April 20, 2022, and is a wholly-owned subsidiary of Holdings.
Share Sale Agreement with MobilityOne
On October 19, 2022, Super Apps entered into a share sale agreement (as supplemented from time to time) (the “SSA”) with MobilityOne Sdn Bhd, a Malaysian company (“MobilityOne”) to acquire a 60% equity interest in OneShop Retail Sdn Bhd, a Malaysian private limited company (“OneShop Retail”), which is a dormant wholly-owned non-core subsidiary of MobilityOne recently formed on October 17, 2019. MobilityOne is wholly-owned subsidiary of MobilityOne Limited, a Jersey corporation listed on the London Stock Exchange (AIM: MBO).
Following the completion of the share sale pursuant to the SSA, MobilityOne is to receive cash payments of $8.8 million and $4.4 million within 14 days and 180 days, respectively, of completion of the Business Combination.
MobilityOne is principally involved in the provision of e-commerce infrastructure solutions and platforms. It offers mobile payment applications, payment and enterprise solutions, messaging and communication as well as eMoney solutions.
Pursuant to the terms of the SSA, in consideration of MobilityOne’s undertakings and guarantee of achieving the Revenue Target (as defined below), Super Apps shall cause TETE to issue shares in TETE to a stakeholder to be mutually agreed by MobilityOne and Super Apps with aggregate value of $4.4 million within 14 days upon completion of the Business Combination. The issue price for the TETE Shares to the stakeholder will be determined at a later date and in any event shall be the same as the issue price for the TETE Shares to be issued to the shareholders of Holdings pursuant to the Business Combination. In the event that the Business Combination is consummated, but the Revenue Target is not achieved, the Share Sale will continue, however, MobilityOne will not be entitled to the TETE Shares.
Once MobilityOne achieves the Revenue Target following completion of the Business Combination and the Share Sale, it is expected that MobilityOne will divest its TETE Shares. Subject to the relevant conditions precedent being satisfied, MobilityOne intends to apply the expected cash proceeds from the Share Sale and Joint Venture into the expansion of the MobilityOne’s existing e-payments business in Malaysia and supporting the general working capital purposes of MobilityOne.
3 August 2023
MobilityOne Limited
("MobilityOne", the "Company" or the "Group")
Update on Proposed Joint Venture with Super Apps
MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, notes that a draft proxy statement has been filed by Tete Technologies Inc, a wholly owned subsidiary of Technology & Telecommunication Acquisition Corporation ("TETE"), on 2 August 2023 (the "TETE Proxy Filing") which is available for viewing on the United States Securities and Exchange Commission's website ("SEC").
The TETE Proxy Filing has been filed in draft with the SEC. The purpose of the TETE Proxy Filing is to provide TETE shareholders with information on the proposals ahead of seeking approval from TETE shareholders for the Merger Exercise itself. An extraordinary general meeting will be convened in due course for this purpose by TETE once the TETE Proxy Filing is in complete form and approved by the SEC.
Thanks but that has already risen alot
I will research MBO
Laura better focusing on GFIN today, there will be a proper rise there with a proper spread.
Has the rise got something to do with the RNS a few weeks ago about the disposal going through ?
Is it worth investing here, I don't know anything about this company
Proposed Disposal and subject to the completion of the Merger Exercise, the Group is expected to receive cash proceeds of RM40.0 million (c. GBP7.53 million) and RM20.0 million (c. GBP3.76 million)
Davey50,
I was not aware of RCGH, but on the face of it seem a similar business to MBO? Does seem way overvalued based on the financials, but I can see your point re: price comparison. MBO needs some positive news, recently it has just been delays, setbacks (UK application) and a slowing down (actually negative recently) growth.
Nathan91 - disagree. MBO has been going 10+ years already and until recently had been growing profits each year with an improving balance sheet, positive net asset position and not once diluted shareholders with equity raises. Also the directors are on pretty low salaries compared to many other AIM businesses. Directors have also personally guaranteed the company's credit facility and long-term loans so are aligned with shareholders in trying to make a success - their own assets are at stake otherwise!
KS. Have you seen RCGH and the jump in market cap from £30 mil to £220 mil and the contracts that have caused this spike which in my view are crazy. I think this stock represents far better value and I remember buying this at 3.3p in 2020 and nobody would touch it for months after I bought then I was dumping them for 16p+ and even managed a small slice out at 40p those were the days eh
That's not new, unfortunately. Was RNS back in October 2022 - was supposed to complete by June 2023, then got delayed a month, now possibly delayed until July 2024!....
Hidden in the results waffle is a proposed disposal for over £11 mil. I'll have to look closer over the weekend. I mean if it was a slam dunk I would be buying size right now but I'm cautious in everything
(4) Proposed disposal of OneShop Retail Sdn Bhd ("1Shop") and proposed joint venture with Super Apps Holdings Sdn Bhd ("Super Apps")
On 19 October 2022 M1 Malaysia entered into a Share Sale Agreement with Super Apps for the proposed disposal by M1 Malaysia of a 60% shareholding in the Group's wholly-owned non-core subsidiary 1Shop to Super Apps (together the "Proposed Disposal"). Concurrently, M1 Malaysia entered into a Joint-Venture cum Shareholders Agreement with Super Apps and 1Shop (together the "Proposed Joint Venture"). The Proposed Disposal and Proposed Joint Venture are inter-conditional in order to establish a new joint venture to expand the Group's e-products and services business initially in Malaysia.
The Proposed Disposal is subject to the completion of a merger exercise between Technology & Telecommunication Acquisition Corporation ("TETE") and Super Apps (together the "Merger Exercise") .
Pursuant to the terms of the Proposed Disposal and subject to the completion of the Merger Exercise, the Group is expected to receive cash proceeds of RM40.0 million (c. GBP7.53 million) and RM20.0 million (c. GBP3.76 million) within 14 days and 180 days respectively of completion of the Merger Exercise.
-- Proposed Disposal
1Shop is incorporated in Malaysia and is a wholly-owned subsidiary of M1 Malaysia. In light of 1Shop's access to M1 Malaysia's network of licenses as well as being a non-core subsidiary, the Directors of the Group have selected 1Shop to be the joint venture vehicle with Super Apps pursuant to the Proposed Disposal and the Proposed Joint Venture.
-- Proposed Joint Venture
Following completion of the Proposed Disposal, pursuant to the terms of the Proposed Joint Venture, M1 Malaysia undertakes to provide the necessary technical and business support to 1Shop. In addition, as part of the terms of the Proposed Joint Venture, M1 Malaysia guarantees that 1Shop will achieve revenues of at least RM560.0 million (equivalent to c. GBP104.5 million) in the financial year ending 31 December 2023 or any other period as mutually agreed (the "Revenue Target"). As the Merger Exercise has been delayed, the period to achieve the Revenue Target shall be re-assessed and agreed with Super Apps in due course.
In order to achieve the Revenue Target, Super Apps undertakes to provide all the necessary working capital requirements of 1Shop. This will be supplemented through Super Apps, in conjunction with 1Shop, collaborating with other organisations.
Pursuant to the terms of the Proposed Joint Venture, in consideration of M1 Malaysia's undertakings and guarantee of achieving the Revenue Target, Super Apps shall procure TETE to issue shares in TETE (the "TETE Shares") to a stakeholder to be mutually agreed by
MMs have dropped the price based on today's TETE delay RNS...