Mobilityone Share Discussion Threads

[katsy] 19/9/2023 15:31

Somebody chipping away. Given all the information to hand, I'm not sure why.

[dave4545] 18/9/2023 15:15

The buying continues !

The manipulation continues.

The mm's do not want to let this go atm.

Whichever mm who sold 60k at 6.3p should be moving to 5.5p bid

[dave4545] 13/9/2023 14:44

Only 2 votes down impressive

[teaboy100] 13/9/2023 14:30

I hope a massive deal is being made. It would be nice to get some money back. Lol

[tradeforce] 13/9/2023 13:56

Seems to be moving up nicely on continued buying, is something happening....

[dave4545] 11/9/2023 14:05

For me this is the same person buying small amounts every day and possibly picking up similar in auctions around mid price.

Why ? Because the mm's refuse to move their prices, they do it with me, 5 buys 5 different buyers price moves, 5 buys same person no movement, they have the software to know where the buys and sells are coming from and manipulate the price. It's like this person wants to spike the price and the mm's know hence no movement

[davydoo] 23/8/2023 21:15

I assumed TETE share price rise was simply because its undeployed cash from IPO is just sat in treasuries earning interest. The smooth ride up suggests so, rather than swings in confidence for its future deals

[candlestick1] 23/8/2023 16:11

I assume they got an extension then?

[firestorm911] 15/8/2023 12:48

Keep buying in chunks of fish and chip amount

[candlestick1] 11/8/2023 11:34

As I understand it, there is no date set as of yet for the EGM to vote on the merger?So there will be an extension as it will not be possible to arrange it by 20th Aug.

[guru] 11/8/2023 11:30

52.2% have agreed to vote for the business combination so they must see value in proceeding with this:

As of the Record Date, TETE’s Initial Shareholders, either directly or indirectly, owned and were entitled to vote 2,875,000 Insider Shares and 532,500 Private Shares, or approximately 52.2% of TETE’s issued and outstanding Ordinary Shares. With respect to the Business Combination, TETE’s Initial Shareholders have agreed to vote their respective Ordinary Shares acquired by them in favor of the Business Combination Proposal and related Proposals. They have indicated that they intend to vote their shares, as applicable, “FOR” each of the other Proposals, although there is no agreement in place with respect to these Proposals.

[peterboroughmatt] 11/8/2023 09:48

If that's the case why have TETE shares risen rather than bombed?

[lloydypool] 10/8/2023 22:14

Ok, let’s examine the $800m to 1.1 billion valuation for a company with no track record, no revenue & no product or service. If Baker Tilly have decided that is fair value why do they bother with TETE at all? Why sell the business for newly issued shares in another worthless entity for a “value” of $1.1 billion?

That figure is a nonsense and appears to be used only to dilute existing tete shareholders to near nothing as their market cap is current 70m so if Super Apps receive 1.1 billion dollars worth of shares there is no benefit for current TETE shareholders. As such, tete shareholder would be better off redeeming shares which could leave little to pay MBO.

[firestorm911] 10/8/2023 19:49

Will go back to the sub 5p bid again. Look, the pathetic volume means it's a bear trap.

Paid promoter scamming scumbag fish and chips, knows sweef F.A, none of the scammers will ever talk who were selling blocks of shares, and none were ever reported. More than 20% of total shares in issues.

Guess who holds a lot of shares. Which country is on the world red list for corruption? Malaysia. This is another scam like GPRH (another Malaysian scam)

Regards
F911
RMC

[mattjos] 10/8/2023 19:19

Thus far, the TETE chart does not indicate any dramas .. in fact, quite the opposite. It's been steadily chugging away upwards since listing on the NASDAQ and evidence to suggest the rate of appreciation has perceptibly quickened since near end of June. The market for the TETE shares in the USA seems to be very much looking forward (+12% since IPO), whereas the market for the MBO shares in London has taken entirely the opposite tack & is down 30% over same timeframe





I suppose it is a bit of truck & trailer scenario, in that TETE is overall i/c the deal - the market over there is still backing a positive outcome. The market over here is not believing the outcome.
In so many ways a near perfect example of the dichotomy between the prevalent sentiment that seems to dominate the two marketplaces

[mattjos] 10/8/2023 14:41

This is simply one of those companies where no one really knows whats going on & when.
I do not believe the Broker/Nomad has any more of an idea than we do.

I'm quite sure managemnt are working hard to pull it all together get it off the ground .. the CEO here is always looking for opportunities to broaden the user base for his tech. Some are successful, some are not - that's just business & innovatrion/development always has a low hit rate. Success comes from not allowing the knock-backs to diminish ones future efforts.

[guru] 10/8/2023 14:38

The omens for the vote look encouraging:

1. 52.2% have agreed to vote for the business combination

As of the Record Date, TETE’s Initial Shareholders, either directly or indirectly, owned and were entitled to vote 2,875,000 Insider Shares and 532,500 Private Shares, or approximately 52.2% of TETE’s issued and outstanding Ordinary Shares. With respect to the Business Combination, TETE’s Initial Shareholders have agreed to vote their respective Ordinary Shares acquired by them in favor of the Business Combination Proposal and related Proposals. They have indicated that they intend to vote their shares, as applicable, “FOR” each of the other Proposals, although there is no agreement in place with respect to these Proposals.

2. Require 2/3rd to vote yes and hence need further 22.8% to shareholders to vote yes (assuming such shareholders actually vote)

Approval of the Reincorporation Merger Proposal will require the affirmative vote of at least two-thirds (2/3) of the holders of the issued and outstanding Ordinary Shares who, being entitled to do so, vote thereon at the extraordinary general meeting.
Therefore, approximately 22.8% of the TETE Shares held by our public shareholders will need to vote in favor of the Business Combination Proposal for the Business Combination Proposal to be approved (assuming all such shareholders are represented in person or by proxy and entitled to vote at the extraordinary general meeting).

[katsy] 10/8/2023 14:31

So if 20th August is decision day, then we should get news either 18th or 21st August. That's next to no time to wait.

[mattjos] 10/8/2023 13:46

Not so sure as you seem to be that it will delayed ... that last filing is very comprehensive & shows they have done the legals and the accounting parts such that it is ready to go.
If they keep delaying, they know they risk being de-listed and become sans funds.

We can but wait and see.

Yes guru, tht is pretty much my summary too.

Whst no one seems to consider if that ANGKASA may acutally be the entity most keen for this to tke place.
Clean sheet vehicle to start it off in and this would act like a glue that helps further bind the membership together.

[candlestick1] 10/8/2023 13:39

And MBO generated revenue of approx $300m last year, but only made £16k profit.And $33m is not a lot of cash, if they're meant to be giving $19m of that to MBO in the first six months.

[candlestick1] 10/8/2023 13:32

They have already given approval for the deadline to be extended upto 12 months to July 2024.Deadline day of Aug 20 is not a thing. I will guarantee you this will be extended, same as it was last time.

[guru] 10/8/2023 12:56

Some interesting and selected highlights from the TETE SEC submission as I understand them!



Breathtaking!

1. 20th August is decision day:

In the event that the Business Combination is not consummated by August 20, 2023, TETE’s corporate existence will cease and TETE will distribute the proceeds held in the trust account to its public shareholders.

2. TETE have $33m cash to invest in the business venture

As of May 31, 2023, we had investments of $33,685,225 held in the Trust Accounts.

3. Mobility One will sell 60% of their 100% owned "shell company" One Shop Retail for approx £13m (RM 80m) leaving Mobility One with 40% equity.

4. Baker Tilly have independently valued the "Target Company" at $800M to $1.1B

5. Target Company has a collaboration agreement with ANGKASA which has 10,000 co-operatives and 8 million members and provides salary payments. These I understand to be the 1st client to be offered the One Shop services to achieve the revenues in year 1.

6. 1st Year revenues forecast $368M, profit before tax $18m, 2nd year revenue forecast $532M, profit before tax of $40m


Please feel to free to correct this if I have read this wrong.

Please do your own research!

Guru

[mattjos] 09/8/2023 17:00

Assuming the deal does go ahead, & given the comprehensiveness of the recent filing it does now look like they have got the structure sorted and are virtually good to go, it's going to be really interesting to see if the new business can achieve the kind of Revenues it is forecasting.
To scale up from a standing start to those sort of Revs would be mightily impressive and also a big validation of the MBO software platform.
I agree it does seem rather fanciful but TETE & MBO would not have set such a huge Revenue target unless both parties had a certain degree of confidence as to how they would achieve it.

I think the market senses 'something' extraordinary may be / is in the offing here & it is clearly not going to take much buying to propel the share price markedly higher, particulary given the tiny free float and the fact the share price is pretty much 'bombed' out still.

That said, according to the company website, there are still 3,475,159 shares held by Interactive Investor so still a few PI's have kept the faith.


As a quick reminder:

Issued and Paid-up Share Capital of 106,298,780 Ordinary Shares.

Significant Shareholders (3%+) comes to 80,133,778

So the 'free float' is only 26m shares but, likely less once you factor in any other decent size holdings that have either not breached the 3% level or not declared such.

On a sleepy summer day like today with just 725,253 shares traded, that is still 2.7% of the free float being traded.

The price is always set at the margin and in this case, it's the slimmest of margins that determines that price & hence the volatility.

Anyway, I've stayed in throughout all the price volatility as I believe there is still a very good chance that we are (finally) witnessing the emergence of something extraordinary & if that is the case then there may/should be a complete bunfight amongst others wanting to get hold of some shares - one only has to look at previous volatility to get a sense of what that process will do for the mkt cap of the company & this thread will explode with new posters.