SEN 3.77% 5.5¢ senetas corporation limited

what price the capital raising

  1. 8,265 Posts.
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    going on SEN's lack of transparency and detail in its latest update especially on the matter of cash on hand.

    Since SEN reported $5m in cash on hand as at December 31st and have advised of a $15m loss of which around $10m is to be a one off write down of failed investments............leaves a $5m black hole in the accounts.

    In the absence of advice re its cash position......consideration of a capital raising must be given.

    The question would be at what price and how much would they look to raise.

    It would have to be sub 10c on current market prices.

    50m shares at 8c would raise $4m.

    Further dilution and at a lower share price.

    Perhaps SEN should advise the market of its cash on hand to remove any doubts.

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