Mobilityone Regulatory News (MBO)

10 Sep 2009 13:18



 MobilityOne Limited

("MobilityOne" or the "Company")

Litigation with GHL Systems Berhad and GHL Transact Sdn Bhd

The Company wishes to announce that MobilityOne Sdn Bhd ("MobilityOne Malaysia"), a wholly-owned subsidiary of the Company, has received a Writ of Summons and Statement of Claim from the solicitors of GHL Systems Berhad ("GHLS") and its subsidiary, GHL Transact Sdn Bhd ("GHLT"), for the following:

GHLS is claiming for RM363,868.13 (equivalent to £62,991.11*) together with interest at the rate of between 1% to 2% per month and cost for outstanding rental of EDC terminals, service charges for hosting facilities, and supporting services in respect of 'Mr Kiosk' software; and

2. GHLT is claiming for RM1,209,349.50 (equivalent to £209,356.79*) together with interest at the rate of

2% per month and cost for outstanding rental and maintenance of EDC and supply of thermal paper.

MobilityOne Malaysia has referred the matter to its solicitors and based upon the evidence gathered and preliminary advice from its solicitors, the Directors of MobilityOne Malaysia believe they have sufficient grounds to defend the claims and MobilityOne Malaysia will vigorously defend the matter. 

In addition to the above, MobilityOne Malaysia, via its solicitors, is finalising a Writ of Summons and Statement of Claims to be filed against GHLS in respect of outstanding payment due to MobilityOne Malaysia for inventories and equipment, charges in respect of services not rendered, interest and other miscellaneous matters totalling more than RM3.0 million (equivalent to £519,345.62*). It is anticipated that the Writ of Summons and Statement of Claims will be filed shortly.

The original claims issued by GHLS and GHLT and the counter-claim issued by MobilityOne Malaysia were disclosed in the Company's annual report and accounts for the year ended 31 December 2008 which were sent to shareholders on 30 June 2009. The claims by GHLS and GHLT were strongly refuted by the management of MobilityOne Malaysia and the Directors of MobilityOne Malayisa were of the opinion at the time the claims were issued that MobilityOne Malaysia was unlikely to suffer any economic outflow as a result of the claims.

GHLS owns 3,209,784 ordinary shares in the Company representing 4.06% of MobilityOne's existing issued share capital.

The Company will make appropriate announcements on the development of the litigation in due course.

* Based on the exchange rate of 1 GBP  = RM5.7765 as at 9 September 2009

For further information please contact: