Mobilityone Regulatory News (MBO)

17 Jan 2008 09:02

MobilityOne Limited17 January 2008 MobilityOne Limited ("MobilityOne" or "Company") Notice of Share BuyBack MobilityOne announces that on 15 January 2008, it purchased a total of14,962,253 ordinary shares at 9.31 pence per share for cancellation using theauthority given by the shareholder of the Company at the extraordinary generalmeeting held on 17 December 2007. The repurchased ordinary shares will becancelled and removed from trading on AIM. Accordingly, as a result of the aboveshare buyback, the issued share capital of the Company will be 78,974,951ordinary shares of 2.5 pence each. Hussian A. Rahman, Chief Executive Officer of MobilityOne, commented: "Thepurchase price is based on the average of the highest and lowest of the marketclosing price of the Company's shares since its admission to AIM on 5 July 2007up to 14 January 2008 and it is at a discount of approximately 25.52% from theplacing price of 12.5 pence pursuant to the Company's admission on AIM. Theshare buyback may help to stabilise the supply and demand of the shares andreduce the price volatility which is important to retain investors' confidencein the Company. Since the repurchased shares will be cancelled, the earnings pershare will increase accordingly which in turn could be expected to have apositive impact on the market price of the Company's shares which will benefitthe shareholders of the Company." - ends - For further information, please contact: MobilityOne +6 03 6286 1999Hussian A. Rahman, CEO www.mobilityone.com.myhar@mobilityone.com.my HB Corporate +44 (0)20 7510 8600Luke Cairns www.hbcorporate.co.ukRachel KaneJim McGeever Threadneedle Communications +44 (0) 20 7936 9605Graham HerringJosh Royston This information is provided by RNS The company news service from the London Stock Exchange