MobilityOne Ltd said on Thursday it withdrew its revised application to the UK Financial Conduct Authority regarding the planned expansion of its operations in the UK through its subsidiary M-one Tech Ltd, as the FCA again asked for more information.
MobilityOne shares fell 20% in London on Thursday morning to 6.44 pence each.
The Oxfordshire, England-based provider of payment solutions and e-commerce infrastructure platforms said it had received feedback from the FCA requesting more information on disclosures related to M-one Tech’s proposed business plan. The company stated that it is reviewing its business plan in the UK and its option to submit a further revised FCA application.
On 23 January, following a request for more information from the FCA, MobilityOne had again submitted a revised application to the FCA for authorisation as an electronic money institution to offer e-money services in the UK.
