MobilityOne Limited provided the following update in respect of the Group's proposed expansion of its business in the UK through M-One Tech Limited, the Company's wholly-owned subsidiary. On 30 September 2022, the Group announced its intention to re-submit in the fourth quarter of 2022 an application to the Financial Conduct Authority (the "FCA"), the financial regulatory body in the UK, for authorization as an electronic money institution to provide e-money services in the UK. The Group has made significant progress in respect of the underlying preparatory work in relation to the FCA Application.

Notwithstanding this, external personnel availability during the festive period has meant that onboarding the requisite services is taking longer than expected, accordingly, it is now expected that the Group will re-submit the revised FCA Application reflecting the FCA's feedback in the first quarter of 2023.