MobilityOne Ltd. (MBO)

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 2.25p
   
  • Change Today:
      0.000p
  • 52 Week High: 9.25
  • 52 Week Low: 2.00
  • Currency: UK Pounds
  • Shares Issued: 106.30m
  • Volume: 2,726
  • Market Cap: £2.39m
  • RiskGrade: 467

MobilityOne to acquire 55pc of MiTP

By Josh White

Date: Friday 10 Nov 2017

LONDON (ShareCast) - (ShareCast News) - E-commerce infrastructure payment solution and platform provider MobilityOne announced on Friday that, on 9 November, it signed - via its recently incorporated wholly-owned subsidiary MobilityOne South Asia - a sale and purchase agreement with Zahir Uddin and Shahin Hossain to acquire a 55% shareholding in MiTP for a nominal cash consideration of BDT 0.55m, payable from the group's existing cash resources.
The AIM-traded firm said completion of the acquisition remained subject to the original share certificates and transfer forms in respect of the sale shares to be transferred to M1SA, and a directors' resolution of MiTP to approve the transfer of the sale shares to M1SA.

It said the acquisition was expected to complete within three business days from the date of the agreement.

On completion, Hussain Rahman and Derrick Chia Kah Wai, - existing directors of MobilityOne - will join the board of MiTP.

As it previously announced, the group - via its wholly-owned subsidiary MobilityOne Malaysia - entered into a partnership agreement in place with MiTP on 10 April.

Under the terms of that agreement, MiTP also provided MobilityOne Malaysia with an option to acquire 55% of the enlarged share capital of MiTP through the issue of new equity.

Following completion of the acquisition, that agreement would remain in place although the company said it has no intention at the current time to exercise that option since they would hold 55% of the current issued share capital of MiTP on completion of the acquisition.

"The acquisition of a majority interest in MiTP will allow the group to expand its services to Bangladesh and to explore other business opportunities in that region," said MobilityOne CEO, Dato Hussain Rahman.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MBO Market Data

Currency UK Pounds
Share Price 2.25p
Change Today 0.000p
% Change 0.00 %
52 Week High 9.25
52 Week Low 2.00
Volume 2,726
Shares Issued 106.30m
Market Cap £2.39m
RiskGrade 467

MBO Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
56.37% above the market average56.37% above the market average56.37% above the market average56.37% above the market average56.37% above the market average
37.08% above the sector average37.08% above the sector average37.08% above the sector average37.08% above the sector average37.08% above the sector average
Price Trend
89.28% below the market average89.28% below the market average89.28% below the market average89.28% below the market average89.28% below the market average
92% below the sector average92% below the sector average92% below the sector average92% below the sector average92% below the sector average
Income Not Available
Growth
92.71% below the market average92.71% below the market average92.71% below the market average92.71% below the market average92.71% below the market average
93.55% below the sector average93.55% below the sector average93.55% below the sector average93.55% below the sector average93.55% below the sector average

MBO Dividends

No dividends found

Trades for 21-Nov-2024

Time Volume / Share Price
11:23 2,726 @ 2.00p

MBO Key Personnel

CEO Hussain Rizal bin A Rahman

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