Gstechnologies Share News (GST)

IN BRIEF: GSTechnologies interim loss narrows as eyes Semnet buy

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Loss narrows 36% to USD737,000 in the six months to September 30, from USD1.2 million a year ago. Posts no revenue in either half-year. Looking ahead, expects completion of cybersecurity business Semnet Pte Ltd by early February. Two weeks ago, GSTechnologies agreed to acquire around 67% of the Singapore-based firm, Semnet Pte Ltd for USD1.8 million.

IN BRIEF: GSTechnologies buys majority stake in Singapore-based Semnet

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Agrees to acquire around 67% of Singapore-based cybersecurity firm, Semnet Pte Ltd for USD1.8 million. Says remaining 33.33% shares in Semnet are held by Ong Siew Phek and Lam Pek San, which own 23.33% and 20% respectively. Chair Tone Goh says: "This strategic acquisition represents a further important step in the company's journey. Our commitment to innovation and excellence remains unwavering, and having in-house cybersecurity expertise and capability is important as we continue to build a B2B Neobank providing next-generation digital money solutions. We look forward to providing updates in due course on the progress of this acquisition and the subsequent enhancements it brings to our fintech offerings."

GSTechnologies to buy 60% of payments business EasySend

(Alliance News) - GSTechnologies Ltd on Wednesday said it signed an option to purchase agreement to acquire a majority stake in Belfast-based cross-border payments business EasySend Ltd.

TRADING UPDATES: Billington on track to beat 2023 expectations

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

UK shareholder meetings calendar - next 7 days

GSTechnologies shares up as completes PAYPT Finance acquisition

(Alliance News) - GSTechnologies Ltd on Tuesday said it has completed the acquisition of PAYPT Finance Ltd, a Canadian company holding a Canadian money services business licence.

IN BRIEF: GSTechnologies full-year revenue down; loss widens

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Reports revenue of USD2.3 million for the year ended March 31, down 45%from USD4.2 million in financial 2022. Says net operating income of USD443,000, multiplying from USD47,000 the year prior. Says pretax loss was USD1.6 million, widening from USD1.4 million the previous year. Chair Tone Kay Kim says "there is a very bright future for GST", adding that the firm is exploring further acquisition opportunities following its recently proposed purchase of PAYPT Finance Ltd.

TRADING UPDATES: RC365 inks agreement; GSTechnologies buys PAYPT

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

TRADING UPDATES: Aquila European says no hit from Siemens Energy woe

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

IN BRIEF: GSTechnologies stablecoin application to FCA faces delays

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Says UK Financial Conduct Authority stablecoin application continues to be processed, after having been extended beyond anticipated timeframe. Adds, its subsidiary, Angra, continues to perform in line with its expectations.

GSTechnologies raises GBP750,000 for GS Money strategy

(Alliance News) - GSTechnologies Ltd on Wednesday said it has raised GBP750,000 through a placing of 75.0 million shares at a price of 1.0 pence each.

IN BRIEF: GSTechnologies stablecoin application review delayed

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Says the expected final panel review meeting regarding the stablecoin application for admission to the UK Financial Conduct Authority regulatory sandbox will not take place. This is due to "unprecedented" levels of sickness within the FCA team. As a result, the FCA will provide a decision on the application by the end of this month, instead of mid-May as previously announced.

IN BRIEF: GSTechnologies notes share rise, FCA application progressing

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Notes recent share price rise and confirms its stablecoin application for admission to the UK Financial Conduct Authority regulatory sandbox continues to progress as expected. Says the sandbox application has been assessed by the FCA, who have verbally indicated that it is eligible for, and undergoing, FCA panel review and further assessment. Expects to receive the decision on the application in mid-May 2023. Says it continues to assist the FCA with their panel review of the sandbox application in the meantime. The application was first announced in late February, while GSTechnologies says it will make further announcements "in due course" and as appropriate.

SMALL-CAP WINNERS & LOSERS: GSTechnologies progresses FCA application

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.

IN BRIEF: GSTechnologies receives notice to convert loan into stock

GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Receives conversion notice from its loan facility provider to convert remaining USD285,000 principal amount of loan and associated interest of USD28,500 into new shares. The conversion price will be 0.31 pence per new share, resulting in 81.2 million shares being issued to the provider. Following this, no principal amount or associated interest will remain outstanding under the loan facility.