GSTechnologies Limited (LON:GST), the fintech company, has provided an update to the announcement of 13 February 2026 regarding the Company’s 66.67% owned subsidiary Semnet Pte. Ltd.
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.
