MobilityOne extends payment deadline again for Sincere Acres stake
By Josh White
Date: Thursday 02 Jan 2025
(Sharecast News) - MobilityOne announced an extension to the payment deadline for the remaining balance of its MYR 30m (£5.43m) acquisition of a 49% stake in Sincere Acres.
The AIM-traded firm said the second tranche of MYR 28m, initially due by 31 December, had been extended to 28 February following an agreement with the vendor, United Flagship Development.
It marked the third extension for the payment deadline, which was previously extended in March and September.
The outstanding balance would continue to accrue interest at a rate of 10% per annum.
A provision remained in place to reduce the payment by MYR 1m if settled by the new deadline.
The board said the acquisition terms, initially announced in October 2023, remained otherwise unchanged.
At 1055 GMT, shares in MobilityOne were down 12.2% at 1.8p.
Reporting by Josh White for Sharecast.com.
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