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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)
Laura better focusing on GFIN today, there will be a proper rise there with a proper spread.
Thanks but that has already risen alot
I will research MBO
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.
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.
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.
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
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