Shares in MobilityOne Limited (AIM: MBO) surged 42% to 12.50p after the company confirmed that shareholders of its joint venture partner, Technology & Telecommunication Acquisition Corporation (TETE), approved all resolutions at an extraordinary general meeting on 30 March 2026.
The vote clears a key procedural hurdle for the proposed merger between TETE and Super Apps. Completion of the deal is set to trigger cash payments of approximately £10.26 million to MobilityOne’s Malaysian subsidiary, M1 Malaysia.
An initial £6.8 million payment is expected within 14 days of completion, followed by a further £3.4 million within 180 days.
As part of the joint venture structure, the AIM-listed e-commerce payments and platform provider will carve out a portion of its electronic voucher business—covering mobile airtime, pay-TV, gaming credits and other digital products—into a new subsidiary, OneShop Retail.
The new entity has been assigned a 2026 revenue target of $125 million. If achieved, Super Apps will facilitate the issuance of additional shares in the combined business to MobilityOne, valued at £3.4 million.
For more information, refer to our website at www.mobilityone.com.my
