Semnet Update
- Jun 1
- 1 min read
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
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