Mobilityone Share Discussion Threads

[smackeraim] 11/3/2024 10:19

They've extended past the TETE deadline.

[katsy] 11/3/2024 10:10

A company with supposedly £225m turnover can't find £5m to complete this transaction with this medical software co. and now having to pay interest penalty for delaying the transaction.

[smackeraim] 09/3/2024 14:50

Money laundering without any money .. strange thing

[katsy] 08/3/2024 23:32

Now beginning to look like a money laundering exercise.

[smackeraim] 08/3/2024 16:06

Extended 2nd payment for smart hospital thing until September

[smackeraim] 05/3/2024 18:07

Tete filed annual report today. It's on SEC website. Paragraph.. "The Business Combination has been approved by the boards of directors of each of TETE and Super Apps. The Business Combination will require the approval of the shareholders of TETE and Super Apps and is subject to other customary closing conditions, including a proxy statement being filed with and cleared by the U.S. Securities and Exchange Commission. The transaction is expected to close in the second quarter of 2024"Second quarter just a few weeks away ;-)

[smackeraim] 05/3/2024 11:49

It's interesting to note, and many may have missed this. That one of the conditions that need to be satisfied for TETE to move forward with merger is that Superapps and Mbo have completed the disposal. Here are the TETE closing conditions from Nov 23 document on SEC website. TETE's Conditions to Closing The obligations of TETE and Merger Sub to consummate the transactions contemplated by the Merger Agreement, in addition to the conditions described above in the first paragraph of this section, are conditioned upon each of the following, among other things: ? the representations and warranties of Super Apps being true on and as of the Closing, other than as would not reasonably be expected to have a Material Adverse Effect; ? Super Apps complying with all of the obligations under the Merger Agreement in all material respects; ? Super Apps and MobilityOne Sdn. Bhd., a Malaysian private limited company ("MobilityOne") which beneficially owns 100% of the outstanding ordinary shares of OneShop Retail Sdn. Bhd., a Malaysian private limited company ("OneShop Retail"), shall have closed the transaction relating to the purchase by Super Apps of 60% of MobilityOne's ownership interest in OneShop Retail pursuant to the Share Sale Agreement, dated October 19, 2022, by and between Super Apps and MobilityOne, which is attached hereto as Exhibit 10.11; 88 ? Super Apps and MobilityOne shall have entered into a shareholder's agreement, which shall govern the relationship between Super Apps and MobilityOne as shareholders of OneShop Retail, including with respect to the composition of the board of directors of OneShop Retail; and ? Super Apps and MyIsCo Sdn Bhd, a wholly owned subsidiary of MyAngkasa Digital Services Sdn Bhd, a Malaysian private limited company led by Angkatan Koperasi Kebangsaan Malaysia ("ANGKASA"), shall, at least one day prior to the Closing, enter into a Collaboration Agreement (the "Collaboration Agreement") allowing OneShop Retail, as the authorized bill payment collection and credit lending agency of ANGKASA, to operate its payment collection system through ANGKASA's authorized dealers for the collection and remission of any payment of bills via cash payment, credit card, debit card or cheque. The Collaboration Agreement is attached hereto as Exhibit 10.12.

[katsy] 01/3/2024 15:50

Second RNS for the day. More TETE filings.

[ny boy] 01/3/2024 10:43

Shake of the century, talk about delusional, it's been a series of dead can bounces from the ridiculous 40p spike a few years ago, which trapped a lot of PI’s. Another nonsensical stock, that will just go bust this year. Poor management like many of these penny casino plays. Every so often there are trap door events trapping more PI’s on the way to 0p and shareholder wipeout.

Try a solid recovery play like Keystone Law, (KEYS)solid support @ 400p, strong management dyor as usual

[mattjos] 01/3/2024 10:41

I suspect this will be MYISCO Sdn. Bhd. agitating to get Super Apps moving & not to wait any longer for TETE

[katsy] 01/3/2024 10:36

I'm wondering if they have indeed got the wording mixed up in this RNS.

So under the orginal proposal:-

M1 get RM40 for disposal and
get RM20 for Merger.

It was further announced on 19 October 2022 that following the completion of the Proposed Disposal, the Group is expected to receive cash proceeds of RM40.0 million (c. £7.53 million at the time) and RM20.0 million (c. £3.76 million at the time) within 14 days and 180 days respectively of completion of the Merger Exercise.




Supplementary Agreement



Under the terms and conditions of the Supplementary Agreement, completion of the Proposed Disposal is no longer conditional on the Merger Exercise completing. In this regard, both M1 Malaysia and Super Apps have now agreed to the completion of the Proposed Disposal to take effect upon entry of the Supplementary Agreement. As a result, the Proposed Disposal has now completed.



Notwithstanding the completion of the Proposed Disposal, under the terms and conditions of the Supplementary Agreement if the Merger Exercise does not complete, M1 Malaysia is entitled to purchase back its former 60% interest in 1Shop from Super Apps for a nominal consideration of RM1.0.



Accordingly, and irrespective of the completion of the Proposed Disposal, it remains the case that subject to the completion of the Merger Exercise Super Apps shall pay M1 Malaysia the following consideration:



(i) RM40.0 million (equivalent to c. £6.8 million) in cash within 14 days upon completion of the Merger Exercise; and Should this be disposal

(ii) RM20.0 million (equivalent to c. £3.40 million) in cash within 180 days upon completion of the Merger Exercise.

[smackeraim] 01/3/2024 10:34

I doubt there will be commercial traction at this stage. They're most likely needing to build and develop back end payment solutions- hence MBO have a job for software engineers on their careers section with the code SUPP-APP on it. Likely that both parties want this IP in place before they begin committing work on building it. So we await the merger as before..

[jbravo2] 01/3/2024 10:26

Conversely if the commercial traction is slower than anticipated the weaker the position
Ultimately it’s not as good as just seeing it all complete and being paid the cash

I suspect steam is now coming out of dave’s ears
:D

[mattjos] 01/3/2024 10:17

the quicker Super Apps starts to develop commercial traction, the stronger our position becomes

[mattjos] 01/3/2024 10:17

exactly smacker .... i think it's good the company are not waiting around any longer.
Get Super Apps moving now and it raises the pressure on TETE to step up or sod off.

[smackeraim] 01/3/2024 10:14

RNS. My take.. they've signed over the 60% - hopefully to get things moving at TETE endif merger happens the cash payout terms standif merger doesn't happen- which they have no control over - they get the 60% back for a nominal valueit's kinda as you were really. we await the merger

[katsy] 01/3/2024 10:13

Latest RNS is clear as mud, has the deal completed but without a merger. Do MBO have the cash from TETE?

[mattjos] 01/3/2024 10:13

looks like they are just getting on with it, irrespective of the proposed TETE / Super Apps merger timeline.

[mattjos] 29/2/2024 23:38

MBO has, in effect, committed cash it does not yet have to a new healthcare business.
Inevitably, the market will see the risk in such a move ... both the TETE deal has procedures in place for delay and so too does the MBO deal in the healthcare business.
There is a large degree of uncertainty, particularly given the tardiness in relation to TETE deal & uncertainty motivates selling.
Folk can simply stick cash in a Money Market account for 4.5% yield and do nothing ... 4.5% risk-free Yield looks pretty appealing when the MM's here happy to advertise a 15%+ online spread.
It's same across all MM AIM Stocks.
If the MM's want business, they'll tighten up the spread ... if they wont do that then they clearly not interested so I will (& have) now gone to DMA here, in the auctions, to pick up stock.

[dave4545] 29/2/2024 23:26

Yet when I return tonight and look at the leaders board and see Renx up 35%

It's just announced a $19 mil loss in 6 months and has cash a few months ago of around $5 mil left, that is how bonkers the markets are now, because it's spiking people pile in not one of them cares it's on the verge of being bust and will struggle to raise cash at a third of the current price.

I mentioned a stock to you with a identical valuation...which sounds better ?

A stock losing $30-40 mil a year with $5 mil left in a market struggling to raise funds.

Or a stock with £18-25 mil net cash making £9 mil+ profits a year

Well of course the latter is friendless and the other has buyers all over it which is why this market is totally screwed.

I mean today's seller thinks MBO is not worth holding and is a sell at £7 mil market cap.

It's main business has £200-300 mil turnover
It's paid £4-5 mil for a 49% stake in a exciting new Malaysian Healthcare Business
Super Apps looks like launching this year where MBO gets over £10 mil and shares.
Not to mention other bits and bobs

And people sell....I give up

[smackeraim] 29/2/2024 23:18

Nobody is punting money in risky stuff anymore. It's safer in high interest accounts. And, considering the end of the market we hang around, you've got very little interest in raises any longer, hence the discounts become deeper to make it attractive, or the dreaded Cln arrives. Luckily for us MBO ain't in that category. People will see soon enough what's going on. Patience wins.