preopen, page-10

with a SPP wouldn't the company have an amount which they wanted to raise,say $5m (for example)

and in doing so,they would need underwriters of the SPP if there was not a complete uptake by existing investors.

could it be SEN are unable to secure underwriters of the SPP and this is the reference to the volatile market?

SEN is trading at almost historical lows and since most SPP's are below existing share prices,perhaps underwriters approached were not comfortable in being able to raise capital and to support an SPP at this time in SEN's cycle.