REG - GSTechnologies Ltd - Semnet Update

GSTechnologiesAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260601:nRSA3336Ga&default-theme=true

RNS Number : 3336G  GSTechnologies Ltd  01 June 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
(EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE
OF THE EU (WITHDRAWAL) ACT 2018.

 

1 June 2026

 

GSTechnologies Limited

 

("GST" or  the "Company")

 

Semnet Update

GSTechnologies Limited (LSE: GST), the fintech company, provides an update to
the announcement of 13 February 2026 regarding the Company's 66.67% owned
subsidiary Semnet Pte. Ltd ("Semnet").

On 26 May 2026, hearings were held before the Assistant Registrar in the
Singapore Supreme Court.

At these hearings, applications for a stay of proceedings numbered SUM 1210
(filed by the Semnet sellers) and SUM 1211 (filed by Chong Hoi Yan- a former
Semnet employee), were dismissed in their entirety. A costs order of S$18,000
was awarded to Semnet.

A deadline to file a notice of appeal against the above decisions is set for 9
June 2026. Furthermore, a hearing will be held on 4 June 2026 for the Court to
give the defence a direction for their case.

The GST Board remains committed to protecting the interests of GST
shareholders and will announce further updates as appropriate.

 

Enquiries:

 

The Company

Tone Goh, Executive Chairman

+65 6444 2988

 

Financial Adviser

First Sentinel Corporate Finance

+44 (0)20 3855 5551  

Brian Stockbridge / Gabrielle Cordeiro

 

Broker

CMC Markets

+44 (0)20 3003 8632

Douglas Crippen

 

Financial PR & Investor Relations

IFC Advisory Limited

Tim Metcalfe / Graham Herring / Florence Staton

+44 20 (0) 3934 6632

 

 For more information please see: https://gstechnologies.co.uk/
 (https://gstechnologies.co.uk/)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUASRRNKUVOAR



            Copyright 2019 Regulatory News Service, all rights reserved