SEN 3.23% 4.5¢ senetas corporation limited

regulatory issues

  1. 349 Posts.
    Just got off the phone Greg Dearden of SEN.

    Managed to have a good Chat re: suspension.

    Bottom line IKL sounds to be a group of investors who want a 10% stake in the company.
    The transaction was theoretically ment to be completed approx 1 - 2 weeks prior to sen expected
    AR release. And it was all signed up and ready to go.


    Due to regulatory issues ( what ever thay may be ) it has effected the completion of the contract.

    The deal has been signed up and signed off on ie: contract to buy 46 mil shares purchaser & seller contract.
    Seems to be iron clad - done deal so to speak.

    Company did not expect any regulatory issues.


    If IKL attempts to escape contract as they have changed there mind - unfortunantly they cannot , they are in a binding contract and theoretically must pay up or matter will be placed in the hand of the solicitors.

    Deal was orginized by CEO & board member ( solicitor )
    Gallbaly + CEO. Shorely Gallbally would as far as the contract goes make it as binding as possible.

    As far as i can see a deal was done however, problems excist as far as closure or full completion of the deal.

    If IKL ( group of investors ) dont pay up theoretically they shall be sued or is there is a real problem with getting this money accross- regulatory issues.

    ITs clearly one or the other.

    However, as far as SEN is concerned they have acted in a normal above board manner.

watchlist Created with Sketch. Add SEN (ASX) to my watchlist
(20min delay)
Mkt cap ! $48.69M
Open High Low Value Volume
4.6¢ 4.6¢ 4.5¢ $71.02K 1.556M

Buyers (Bids)

No. Vol. Price($)
5 409284 4.5¢

Sellers (Offers)

Price($) Vol. No.
4.7¢ 76300 1
View Market Depth
Last trade - 15.56pm 22/10/2021 (20 minute delay) ?
-0.002 ( 3.23 %)
Open High Low Volume
4.6¢ 4.6¢ 4.5¢ 205627
Last updated 15.56pm 22/10/2021 (live) ?
SEN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.