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The timing given to GST was probably an optimistic one to update rough time scales rather than a definite date, but this may have been lost in cultural translation. Also Government wheels turn slowly as they are never held to account by the market. I suspect it is waiting on the outcome from the vetting of the bill by H. O. L.
Hopefully we will hear something or be able to get an update on legislative process from parliamentary website by the end of next week.
Then news of progression may be quite rapid
It looks like the legislation aspect of the process may come to a head by the end of next week as the committee are due to meet to discuss potential tweaks to the wording on 6th, 8th and 13th June.
116 items or adjustments to wording have been raised for discussion, however, I don't think this will hold up FCA too much.
Really good to see that this is getting so much air time in parliament as it should be a very robust peice of legislation when passed!!
GLA LTH's
It would seem that the House of Parliament 3 readings, debate, etc., process was likely to have been the longest hurdle. Cleared.
House of Lords has gone through the first 2 readings and hopefully the reply which is being written will be completed and 3rd and final reading cleared soon.
However, they may want to complete this process while it's being tested in the sandbox real life situation, which I think would be sensible.
Parliament will want the final sign-off after seeing it in action which is part of the point of the sandbox. This is why IMO sandbox can be up to 15 months.
Royal ascent at the end should be just a formality to show that the king has some role to play in decision making process.
I suspect Jiffy's timing may be about right, but depends how far the scribe in H.O.L. has got and whether his quill still has ink in it!!
I don't think GST will risk unstabilising the application to the Sandbox by rushing through an acquisition in the next 2 weeks.
If an acquisition then occurs, I wonder whether it would be as much to aquire experienced employees, as the company itself.
We should also get end of year accounts statement at the end of June.
GST feel as if they are going to grow significantly in size of company as well as SP throughout 2023.
I'm looking forward to the ride so GLA LTH's
I suspect that the calendar month of May is realistic, but whether it's 2 weeks or 4, it doesn't matter if you plan to buy and hold. The only people who like to know in advance are the day traders.
The precise date is governed by the FCA, who may give a go-ahead from the 2nd week onwards, as mentioned by our Board.
The timing may be affected by all of the May Bank Holidays and also staffing reductions in FCA.
GLA LTH
According to the email I've just received from Simply Wall St, GST is currently Undervalued by 87% so it's valuation is 8p at the moment, even before positive news!!
This is due an incredible re-rate before the end of May
In my mind Authorisation is absolutely key to this.
The general public probably know what Fintech is and therefore probably wouldn't naturally trust it, after all the dodgy online scams that have been discussed on The News, Watchdog, Rogue Traders, etc, but if GST. and GS Money are authorised by the Bank of England or FCA, that would give many people the assurances that they feel that they need to trust it.
Without trust, we don't get to profits and without moderate to long term profits (or somebody buying the company) we the investors, don't get to add to our own pensions etc.
There will always be some who wish to appear happy or unhappy, but are actually the opposite, a bit like there will always be some on each BB who will say sell, sell, sell but are actually buying or the opposite.
Personally I'm very content to be invested in this company as the majority of news over the past few years has been positive and seems to be heading towards a re-rate, especially if we are allowed to start formal trials using the FCA Sandbox, but also because we are due an update on revenue, which now incorporates several previously separate companies into GST and has built new ties and MOU's within the East and the direction of flow seems to be strongly supported by the UK Government and others.
The company is pioneering with attempting to be the first one to gain a official authorisation. If all goes well it should be able to gain a huge head start as the whole world of fintech will inevitably have to become authorised in an internationally admired country to gain credibility
Those who had set selling for 200% SP increase a couple of weeks ago have got out and will start re-entering in time to make another 200% before 10th May.
I am hoping that we will get earnings update next week too
It'll be good to welcome a new tranche of investors to this BB over the next couple of weeks.
Last week held steady bearing in mind that it was just after the recent surge in Share Price and we should get very positive news within the next 3-4 weeks.
Good Luck All new and existing investors