TIDMMBO
RNS Number : 9691D
MobilityOne Limited
27 June 2023
27 June 2023
MobilityOne Limited
("MobilityOne", the "Company" or the "Group")
Further Update on Proposed Joint Venture with Super Apps
MobilityOne (AIM: MBO), the e-commerce infrastructure payment
solutions and platform provider, notes the definitive proxy
statement filed by Technology & Telecommunication Acquisition
Corporation ("TETE") on 26 June 2023 (the "TETE Proxy Filing")
seeking to, amongst other matters, extend the deadline to complete
the Merger Exercise from 20 July 2023 to 20 July 2024. The TETE
Proxy Filing is available for viewing on the United States
Securities and Exchange Commission's website.
The Company will release further announcements as and when
appropriate.
Part of the text of TETE's announcement is set out below:
"You are cordially invited to attend an extraordinary general
meeting of Technology & Telecommunication Acquisition
Corporation, a Cayman Islands exempted company (the "Company,"
"TETE," "we," "us" or "our"), which will be held on July 18, 2023,
at 11:00 a.m., New York Time (the "Extraordinary General Meeting").
Due to the public health impact of the COVID-19 outbreak and to
support the health and well-being of TETE shareholders and other
meeting participants, the Extraordinary General Meeting will be
held in person at the offices of Technology & Telecommunication
Acquisition Corporation, C3-2-23A, Jalan 1/152, Taman OUG Parklane,
Off Jalan Kelang Lama, 58200 Kuala Lumpur, Malaysia and via virtual
meeting format setting. You can participate in the Extraordinary
General Meeting, vote, and submit questions via live webcast by
visiting https://www.cstproxy.com/sm2023 and entering the voter
control number located under the bar card code on your proxy card,
voting instruction form or notice included in the proxy
materials.
The attached Notice of the Extraordinary General Meeting and
proxy statement describe the business TETE will conduct at the
Extraordinary General Meeting and provide information about TETE
that you should consider when you vote your shares. As set forth in
the attached proxy statement, the Extraordinary General Meeting
will be held for the purpose of considering and voting on the
following proposals:
-- Proposal No. 1 - Extension Amendment Proposal - To amend, by
special resolution, TETE's Amended and Restated Memorandum and
Articles of Association (the "Memorandum and Articles of
Association") in the form set forth in Annex A to the accompanying
proxy statement to give the Company the right to extend the date by
which it has to consummate a business combination (the "Combination
Period") up to twelve (12) times for an additional one (1) month
each time, from July 20, 2023 to July 20, 2024 (as extended, the
"Extended Date") (i.e., for a period of time ending 30 months after
the consummation of its initial public offering (the "IPO")) (the
"Extension Amendment Proposal");
-- Proposal No. 2 - Trust Agreement Amendment Proposal - To
amend, by ordinary resolution, TETE's investment management trust
agreement, dated as of January 14, 2022 (the "Trust Agreement"), by
and between the Company and Continental Stock Transfer & Trust
Company (the "Trustee"), to allow the Company to extend the
Combination Period up to twelve (12) times for an additional one
(1) month each time from July 20, 2023 to the Extended Date (the
"Trust Agreement Amendment") by depositing into the Trust Account,
for each one-month extension, the lesser of (a) $144,000 and (b)
$0.045 for each Class A Ordinary Share (as defined below) issued
and outstanding (the "Extension Payment") after giving effect to
the Redemption (the "Trust Agreement Amendment Proposal");
-- Proposal No. 3 - The Founder Share Amendment Proposal - To
amend, by special resolution, the Memorandum and Articles of
Association to provide for the right of a holder of the Company's
Class B ordinary shares, par value $0.0001 per share (the "Class B
Ordinary Shares"), to convert into Class A ordinary shares, par
value $0.0001 per share, of the Company (the "Class A Ordinary
Shares" or "Public Shares") on a one-for-one basis at any time and
from time to time prior to the closing of a business combination at
the election of the holder (the "Founder Share Amendment," and such
proposal, the "Founder Share Amendment Proposal"); and
-- Proposal No. 4 - Adjournment Proposal - To approve, by
ordinary resolution, the adjournment of the Extraordinary General
Meeting to a later date or dates, if necessary, to permit further
solicitation and vote of proxies if, based upon the tabulated vote
at the time of the Extraordinary General Meeting, there are not
sufficient votes to approve the Extension Amendment Proposal, the
Trust Agreement Amendment Proposal, or the Founder Share Amendment
Proposal (the "Adjournment Proposal").
Each of the Extension Amendment Proposal, the Trust Agreement
Amendment Proposal, the Founder Share Amendment Proposal and the
Adjournment Proposal is more fully described in the accompanying
proxy statement. Please take the time to read carefully each of the
proposals in the accompanying proxy statement before you vote. The
purpose of the Extension Amendment Proposal, the Trust Agreement
Amendment Proposal and, if necessary, the Adjournment Proposal, is
to allow TETE additional time to complete an initial business
combination (the "Business Combination"). You are not being asked
to vote on a Business Combination at this time."
Unless otherwise defined herein, the capitalised defined terms
used in this announcement have the same meaning as those used in
the Company's announcement on 19 October 2022.
For further information, please contact:
MobilityOne Limited +6 03 89963600
Dato' Hussian A. Rahman, CEO www.mobilityone.com.my
har@mobilityone.com.my
Allenby Capital Limited
(Nominated Adviser and Broker) +44 20 3328 5656
Nick Athanas / Vivek Bhardwaj
About the Group:
MobilityOne is one of the leading virtual distributors of mobile
prepaid reload and bill payment services in Malaysia. With
connections to various service providers across industries such as
banking, telecommunications, utilities, government agencies, and
transportation, the Group operates through multiple distribution
channels including mobile wallets, e-commerce sites, EDC terminals,
automated teller machines, kiosks, and internet & mobile
banking. Holding licenses in regulated spaces including acquiring,
e-money, remittance and lending, the Group offers a range of
services to the market, including wallet, internet, and
terminal-based payment services, e-money, remittance, lending, and
custom fintech ecosystems for communities. The Group's flexible,
scalable technology platform enables cash, debit card, and credit
card transactions from multiple devices while providing robust
control and monitoring of product and service distribution.
For more information, refer to our website at
www.mobilityone.com.my
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END
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(END) Dow Jones Newswires
June 27, 2023 02:00 ET (06:00 GMT)
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