Member Info for Chaebol

Sorry as an expense (311,418)

Transactions with owners, recognised directly in equity

Dividend on ordinary shares (Note 22)

1,754,781)

Dividend on ordinary shares (Note 22)

311,418

Page 9 on smenet accounts clear as day for you, might be cheaper now not checked with acra for a while

the financial period - 1.10.2023 to 31.3.2024

Net profit 1,798,970

Income tax (311,558)

You cant compare to Robinhood ffs if GST was worth 15 billion USD then you could but just drop it.

If GS fintech want to reapply in LT they need way more staff and offices and real presence, that will cost millions, is this even viable for GS fintech now in LT?

So if in any doubt BFD we were left with a 300k tax bill from the 1.75 million special dividend paid to them just before the sale, thats why GST mention the 300k, its not the former owners paying through their noses. Its GST potentially getting the tax money back.

They are laughing at us all the way to the bank and more I bet. Nothing mentioned about the non compete stuff from GST but no doubt sales people and contracts were ambushed, as sement has generated no meaningful revenue since....

I ask again Nero sincerely,

where are they going to apply and if they are reapllying to LT how are they going to afford the substance and mind management that requires to secure the MiCA in LT?

Sorry, Convinces me this BoD is well out of its depth.

And plus will it even work ?

They need to find an easier jurisdiction, they are out there but time is ticking and all this expense already for what most in the industry knew from November, makes me think this BoD is well out of its depth.

BFD you may wean to ask about its brokerage license that robinhood has and then if that doesnt sink in google its mcap.

You cannot compare to Robinhood, its an outlier. The only real VASP that was approved that we can compare ourselves to is Coingate and we miles away from them.

Thanks for shout out! If i was looking to get in i would start from .3

As a shorter here, I'm obviously not rushing to cover or "get in" anytime soon – waiting for the best possible value on the downside. The spread's wide and volume thin, but those levels around 0.25–0.21p still look very much in play if the sells hit next week. Fintech small-caps are getting absolutely hammered on sentiment right now (delays, no momentum, broader sector pain), so a quick flush to 4.5–5m mcap wouldn't surprise me at all – we've seen worse drops on far less.

Assets and cash possibly do look worth more than the current ~£10m mcap on a pure breakup basis (Angra licence, Bake platform, etc.), but execution risk and lack of catalysts are pricing in a lot of doubt.

The big caveat remains the Semnet mediation/settlement – interims flagged it for late Dec '25/early Jan '26 (cash + shares + ~US$0.3m costs back), but we're into January now with no RNS. Feels like the BoD's playing it very cagey with the wording and timing, which just feeds the drift lower. Until that's nailed down (or not), hard to see real support holding.

So Nero where are they going to apply and if they are reapllying to LT how are they going to afford the substance and mind management that requires to secure the MiCA in LT?

Im interested ?

Substance and mind management needs to be in LT otherwise it is not worth reapplying. They need to find an easier kinder EU jurisdiction for MiCA because its not LT unless they gonna hire 40 50 people and move most of its operations there.

Hahaha just remember the weekend tomorrow ya drip.

Anywhere? Ok Luton Airport no ok East London no ok errrr the moon lol

Muppet x

In a masterstroke of timing that would make even the savviest deal-makers envious, Semnet's former owners orchestrated a lucrative exit: just ahead of the sale, they extracted a hefty US$1.75 million special dividend from the company's coffers (triggering an approximate US$300k tax hit on the payout), before pocketing the full US$1.8 million acquisition consideration from GSTechnologies (split between cash and shares). To add insult to injury, post-sale allegations suggest they then siphoned off the top salespeople and key contracts—breaching non-compete clauses, as per the ongoing arbitration notice—leaving the buyer with a potentially hollowed-out asset. It's the ultimate double-dip: cash out the built-up value twice over, strip the ongoing revenue drivers, and walk away grinning ear-to-ear. The former owners aren't just heading to the bank—they're arriving in a chauffeured Rolls, laughing all the way. Classic small-cap deal drama where the sellers played chess while others were playing checkers.

Thats why semnet accounts are so valuable BFD

Because its green boxed x;)

Hey Ian,

Still think you get cheaper, this will get sales next week imo. Weekend I think investors have big words with themselves cut and run ! I think many have already but there is a price for opportunity always.

Will people be happy when/if I ever go long here again lol they will probably sell then or go short x;)

GL mate

Lol I didnt expect Kung Fu Massi to be bigging up 0.5 p on the 2nd Jan 2026....but here we are folks........ 0.5p is onwards and upwards x;)

Does .4 flop today ? spread is huge 41.7 to 47 ish

Look in the mirror.

85 points down last year and you lot are still not wrong, its laughable.

Leew the BOD are the ones that said late Dec early Jan.......in my world thats Dec 28th to the 5th.

Was it a hope to ramp the SP and get a raise away? they shot themselves in the foot again by saying late dec early jan. and dont get me started on how incomplete a mediation hearing is and how much more time can elapse from that, hence them using the words appears and expected.

Didnt shayne Tan say cyber security was its north star ?

Was that said after Semnet was cut off all revenue streams within the group ? x;)

Positive Arb, take the money and forget about it....Semnet has no punters, no revenues, future warnings of poor performance and should be wound down imo