Director Shareholding

RNS Number : 1430P

MobilityOne Limited

27 September 2013

 



27 September 2013

MobilityOne Limited

("MobilityOne", the "Group" or the "Company")

Directors' dealings and notification re Takeover Code

Directors' dealings

The Board of MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider operating in Malaysia, Indonesia, Cambodia and the Philippines via its subsidiaries MobilityOne Sdn Bhd, Netoss Sdn Bhd, PT MobilityOne Indonesia and MobilityOne Philippines Inc. announces that it has been informed that earlier today Dato' Hussian A. Rahman (CEO of MobilityOne) ("Dato' Hussian") acquired 13,080,000 ordinary shares in the Company ("Ordinary Shares") at a price of 2.5p per Ordinary Share in an off-market transaction. Following this transaction Dato' Hussian now has a total beneficial interest in 53,465,724 Ordinary Shares, equivalent to 50.2% of the Company's total issued share capital. 

In addition the Company was informed that earlier today Janice Yew Yoke Ping, the wife of Derrick Chia Kah Wah (Executive Director of MobilityOne), acquired 1,943,000 Ordinary Shares in the Company at a price of 2.5p per Ordinary Share in an off-market transaction. Following this transaction Derrick Chia Kah Wah and his wife have a total beneficial interest in 1,943,000 Ordinary Shares, equivalent to 1.8% of the Company's total issued share capital.

The Company was informed on 27 September 2013 that following the above share transactions Datuk Yahaya Bin Mat Ghani no longer holds any Ordinary Shares in MobilityOne.

The share purchases were carried out at an 11% premium to the Company's closing share price on 26 September 2013.

Notification re UK Takeover Code

On 15 May 2013, the Takeover Panel announced that certain proposed changes to the City Code on Takeovers and Mergers (the "City Code") will be implemented on 30 September 2013.

Among other changes, the residency test in section 3(a)(ii) of the Introduction to the City Code will no longer apply to companies (such as MobilityOne) which have their registered offices in the UK, Channel Islands or the Isle of Man and which have their securities admitted to trading on a multi-lateral trading facility (which includes AIM) in the UK. This means that the residency test will no longer apply to MobilityOne, and so the Company will be subject to the City Code, from 30 September 2013.

For reference, brief details of the mandatory offer provisions under the City Code (which is administered by the Takeover Panel) are set out below.

Under Rule 9 where: (i) any person who acquires shares which, when taken together with shares already held by him or shares held or acquired by persons acting in concert with him, carry 30 per cent. or more of the voting rights of a company subject to the City Code; or (ii) any person who, together with persons acting in concert with him, holds not less than 30 per cent. but not more than 50 per cent. of the voting rights of a company subject to the City Code and such person, or persons acting in concert with him, acquires any additional shares which increase his percentage of the voting rights, such persons are normally obliged to make a general offer to all the remaining shareholders to purchase, in cash, their shares at the highest price paid by him, or any person acting in concert with him, within the preceding 12 months.

For further information, contact:

MobilityOne Limited                                                                                      [phone]

Dato' Hussian A. Rahman, CEO                                                                  www.mobilityone.com.my

[e-mail]

Allenby Capital Limited (Nominated Adviser and Broker) [phone]

Nick Athanas /James Reeve/Michael McNeilly

Newgate Threadneedle                                                                                 [phone]                                        

Robyn McConnachie/Alex White                                                                                                                    

About the Group:

MobilityOne is the holding company of an established group of companies that provide e-commerce infrastructure payment solutions and platforms through its proprietary technology solutions, marketed under the brands MoCS and ABOSSE.

The Group has developed an end-to-end e-commerce solution which connects various service providers across several industries such as banking, telecommunication and transportation through multiple distribution devices including EDC terminals, mobile devices, automated teller machines ("ATM") and internet banking.

The Group's technology platform is flexible, scalable and designed to facilitate cash, debit card and credit card transactions from multiple devices while controlling and monitoring the distribution of different products and services.

For more information, refer to our website at www.mobilityone.com.my

 

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