© Reuters Mobility One tumbles after FCA requests more info on UK business plan

Proactive Investors – Shares in MobilityOne Ltd (LON:) fell 20% to 6.44p after the digital payment platform said it had withdrawn its UK regulatory application after receiving feedback that included requests for further information.

The AIM-listed, Malaysia-headquartered company had proposed to expand its business in the UK through its M-One Tech subsidiary, with the submission of a revised application to the Financial Conduct Authority announced at the start of this year.

Among the feedback from the FCA there were requests for further information in relation to certain disclosures relating to M-One Tech Limited’s proposed business plan.

“While this feedback is welcome, the group has now accordingly withdrawn its revised FCA application,” it said, and is reviewing the business plan and its “options in relation to submitting a further revised FCA application in due course”.

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