SEN - Senetas Corporation
- Thread starter Lachlan6
- Start date
-
- Tags
- sen senetas corporation
fab thats the price i paid for the stock b4 they went into suspension they are currently at .445 @ 3.06pm ( i wish they were at 48.5!)Fab said:My update shows 0.44 not 0.485 but I have a 15 mns delay as I am watching it from work on the asx website
Constable,
They should go back there that is my belief as I am expecting that the deal that they were talking about will go through it is a question of time now.
If and when it goes through then this one should shoot up and that is why I am keeping it.
They should go back there that is my belief as I am expecting that the deal that they were talking about will go through it is a question of time now.
If and when it goes through then this one should shoot up and that is why I am keeping it.
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,132
- Reactions
- 5,493
The winners were Directors Galbally, Lunt and another shareholder that sold 21 million shares at 55 cents to IKL
http://asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00675145
http://asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00675145
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,132
- Reactions
- 5,493
There were two ASX ANN today
1. directors sell 2.1 million at .55 cents
2. profit downgrade
Sounds like doom and gloom to me
Big problems with Safenet USA partner
-- does not pay royalities
-- in trouble with US gov for options
-- CFO fired
Suggest that you SELL ASAP
1. directors sell 2.1 million at .55 cents
2. profit downgrade
Sounds like doom and gloom to me
Big problems with Safenet USA partner
-- does not pay royalities
-- in trouble with US gov for options
-- CFO fired
Suggest that you SELL ASAP
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,132
- Reactions
- 5,493
Well done ASF members for reporting the following observations yesterday which has been reported in the Australian today
http://www.theaustralian.news.com.au/story/0,20867,20879229-643,00.html
Senetas investors 'gobsmacked'
Michael West
December 06, 2006
IRATE investors in data security company Senetas watched their stock get thumped yesterday as Senetas revealed a profit downgrade just one hour after declaring its chairman and others had sold a large stake.
At 11.48am, Senetas announced chairman Francis Galbally, director Ron Lunt and "another associated Senetas shareholder" had sold 21 million shares at 55c apiece to a mystery offshore company, IKL Management.
One hour and 20 minutes later at 1.08pm, Senetas gobsmacked its investors with a profit downgrade. The stock slumped from 46c, hitting a low of 40.5c after the bad news, before closing at 42.5c.
"Are these guys taking control without offering other shareholders the same deal?" asked one angry stockbroker who had clients in the stock. The Australian was unable to contact Senetas last night.
Although the company's announcement does not indicate when Mr Galbally and Mr Lunt struck their deal, it was part of a broader $40 million capital raising for the "purposes of a future strategic investment" through a combination of a private placement of 46.02 million shares at 55c a share and a convertible note for $14.72 million in a transaction managed by Shaw Corporate Finance.
The nature of the investment, said the announcement cryptically, would be "commercially confidential for some time".
"In preparation for the investment, Senetas had entered into a strategic alliance with IKL Management Group."
Then, adding to the mystique: "IKL is a special purpose investment company representing significant investors based in the US and several other countries."
Besides the 46 million share placement, and the 21 million shares from the principals, IKL will take a $14.72 million convertible note (whose terms were not made public yesterday).
One investor said Senetas shareholders would have been buoyed at the news that a placement had been done above the market price, only to discover, little over an hour later, an earnings downgrade.
Senetas, which made a $1.2 million net profit for the first half last year, conceded this year's first half would be a loss of $1.5 million to a $400,000 profit before tax.
http://www.theaustralian.news.com.au/story/0,20867,20879229-643,00.html
Senetas investors 'gobsmacked'
Michael West
December 06, 2006
IRATE investors in data security company Senetas watched their stock get thumped yesterday as Senetas revealed a profit downgrade just one hour after declaring its chairman and others had sold a large stake.
At 11.48am, Senetas announced chairman Francis Galbally, director Ron Lunt and "another associated Senetas shareholder" had sold 21 million shares at 55c apiece to a mystery offshore company, IKL Management.
One hour and 20 minutes later at 1.08pm, Senetas gobsmacked its investors with a profit downgrade. The stock slumped from 46c, hitting a low of 40.5c after the bad news, before closing at 42.5c.
"Are these guys taking control without offering other shareholders the same deal?" asked one angry stockbroker who had clients in the stock. The Australian was unable to contact Senetas last night.
Although the company's announcement does not indicate when Mr Galbally and Mr Lunt struck their deal, it was part of a broader $40 million capital raising for the "purposes of a future strategic investment" through a combination of a private placement of 46.02 million shares at 55c a share and a convertible note for $14.72 million in a transaction managed by Shaw Corporate Finance.
The nature of the investment, said the announcement cryptically, would be "commercially confidential for some time".
"In preparation for the investment, Senetas had entered into a strategic alliance with IKL Management Group."
Then, adding to the mystique: "IKL is a special purpose investment company representing significant investors based in the US and several other countries."
Besides the 46 million share placement, and the 21 million shares from the principals, IKL will take a $14.72 million convertible note (whose terms were not made public yesterday).
One investor said Senetas shareholders would have been buoyed at the news that a placement had been done above the market price, only to discover, little over an hour later, an earnings downgrade.
Senetas, which made a $1.2 million net profit for the first half last year, conceded this year's first half would be a loss of $1.5 million to a $400,000 profit before tax.
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,132
- Reactions
- 5,493
The Australian today suggest punters take the directors' hint and SELL.
http://www.theaustralian.news.com.au/story/0,20867,20878279-23634,00.html
CRITERION
Tim Boreham
December 06, 2006
Senetas (SEN) 42.5c
THERE'S good and bad news from the high-speed encryption outfit and - once again - the sum effect is that holders are none the wiser.
Yesterday Senetas came good with its long-awaited capital raising: $40 million at 55c apiece and a $14.7 million convertible note issued to a mysterious offshore investment company, IKL Management Group.
The long-awaited strategic investment for which the funds were raised "will be commercially confidential for some time".
It's jolly good to see IKL expressing such a vote of confidence in Senetas's prospects. If only the same could be said for chairman Francis Galbally and director Ron Lunt, who are lightening their holdings to the tune of 21 million shares sold to IKL.
And what's this "results guidance" pointing to a first (December) half result of between $400,000 and a $1.5 million loss?
Technically, its consistent with last month's warning of a result "at least 15 per cent below" last year's $1.2 million.
Senetas promises a better second half as royalties flow in from rejigged distribution arrangements, but it's just not good enough for a $200 million market cap stock.
We suggest punters take the directors' hint and SELL.
mailto:borehamt@theaustralian.com.au
http://www.theaustralian.news.com.au/story/0,20867,20878279-23634,00.html
CRITERION
Tim Boreham
December 06, 2006
Senetas (SEN) 42.5c
THERE'S good and bad news from the high-speed encryption outfit and - once again - the sum effect is that holders are none the wiser.
Yesterday Senetas came good with its long-awaited capital raising: $40 million at 55c apiece and a $14.7 million convertible note issued to a mysterious offshore investment company, IKL Management Group.
The long-awaited strategic investment for which the funds were raised "will be commercially confidential for some time".
It's jolly good to see IKL expressing such a vote of confidence in Senetas's prospects. If only the same could be said for chairman Francis Galbally and director Ron Lunt, who are lightening their holdings to the tune of 21 million shares sold to IKL.
And what's this "results guidance" pointing to a first (December) half result of between $400,000 and a $1.5 million loss?
Technically, its consistent with last month's warning of a result "at least 15 per cent below" last year's $1.2 million.
Senetas promises a better second half as royalties flow in from rejigged distribution arrangements, but it's just not good enough for a $200 million market cap stock.
We suggest punters take the directors' hint and SELL.
mailto:borehamt@theaustralian.com.au
constable said:
I assuming this a typo, and you mean "Unbeleivable" "UnEthical" "UnScrouplas" and perhaps "UnAttractive Investment".
bigdog said:
SevenFX said:
EDIT: This this not the Honerable "Francis Gallbally" founder of "Gallbally & Associates" the law firm in Melbourne...????
I don't like or trust that the terms of the convertible note are withheld! Whats the bet, going on SEN's past record of distain for shareholders, that they are very favourable to make up for the 'gift' to directors? I once held this and got out for a small loss. If you can't trust the management don't go near the company!
- Joined
- 14 November 2006
- Posts
- 6
- Reactions
- 0
constable said:
I must say that it's hard to imagine any news that can be worse than a profit downgrade we just received (in the positive background of someone investing 46 mils at 55c), so we could be looking forward to something positive!
