RE: Semnet news is coming.3 Jan 2025 10:18
Though if you look at the October 15th RNS mentioning Semnets listing through a Caymans Islands based holding company, the follow up RNS on the 19th November then mentioned that they are appointing a USA based corporate advisor. The difference I am reading between the two RNS is quite significant.
October 15th RNS;
The MOU outlines TGC's proposed role in guiding and assisting Semnet through strategic preparations for a potential listing on NASDAQ in the US. This includes TGC establishing a Cayman Islands-based holding company to manage Semnet's potential combination with other businesses, potential listing on NASDAQ and IPO-related expenses. Through this vehicle, TGC intends to raise up to US$15 million to facilitate a potential listing, in addition to any equity consideration for Semnet. Over the next three months, GST and TGC will work toward finalising a formal agreement, underscoring the importance of this partnership for both entities. Further updates will be announced as appropriate”
Key statement here “potential combination with other businesses”
November 19th RNS
- TGC will be responsible for, and will provide, necessary transaction expenses of both parties, which are expected to be approximately US$2 million. GST will commit an advance of 20% for the payment of the listing expenses and upon a successful IPO this amount will be reimbursed to GST”
No mention in this RNS of semnet listing with other businesses.
This is really interesting I could be missing something if someone can point out anything I have missed.
To think someone here sold out at around 1 pence to put in a UK oil and gas company to make more money is mind boggling.
Sign In
Follow the stocks
