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