RE: Morning all22 Dec 2025 11:42
Semnet, the 66.66%-owned cybersecurity subsidiary, underperformed. GST issued a notice of arbitration in July alleging breaches by the sellers. A mediation hearing in early December appears to have paved the way for a settlement expected in late December 2025 or early January 2026.
What’s on the table:
Return of US$800,000 cash consideration
Return of 58,844,713 consideration shares
A payment in Singapore Dollars equating to approximately US$300,000 to cover GST’s operational costs