Purchase of an office in Kuala Lumpur, Malaysia

RNS Number : 6330O

MobilityOne Limited

08 August 2014

 



8 August 2014

MobilityOne Limited

("MobilityOne" or the "Group")

Purchase of an office in Kuala Lumpur, Malaysia

The Board of MobilityOne (AIM: MBO) announces that MobilityOne Sdn Bhd ("MobilityOne Malaysia"), a wholly-owned subsidiary of the Group, has completed the purchase of a new office near the Kuala Lumpur Convention Centre (KLCC) for a consideration of approximately RM1.80 million (c.£333,550) which has been satisfied from the Group's existing cash resources.

MobilityOne Malaysia is at an advanced stage of partially re-financing the property purchase by putting in place a loan facility with a local Malaysian bank amounting to approximately RM1.62 million (c.£300,000) and the Board of MobilityOne anticipates completing this re-financing by the end of September 2014.

The purchase of the 2,771 square feet (or 257.43 square metres) office with a freehold title gives MobilityOne Malaysia the assurance of owning its own office space and provides MobilityOne Malaysia with long-term cost savings as well as potential property value appreciation.

MobilityOne Malaysia expects to be able to move into its new office in early 2015. Following this, MobilityOne Malaysia will cease to occupy one of its two existing rented office premises in Kuala Lumpur, Malaysia.

For further information, contact:

MobilityOne                                                                                                   [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 Company:

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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