as i see it

Synopsis of Senetas Strategic plan 2006/2007.



Senetas decided 12 months ago to make sure that it was not left behind or taken over by a competitor, so it hired KMPG as financial advisers to help it form a master plan. The plan was for KMPG to find a group of private bankers willing to invest in an IT company at a very cheap price ( $0.55), which in turn would start to buy up other IT companies in allied or similar field’s etc.etc.

As such a legal entity was established in “IKL MANAGEMENT P/L”

The concept was for IKL to purchase over a period of Time 18% -19% of Senetas, thereby making it the largest shareholder, and putting 2 directors on the board of Senetas
Senetas would be then cashed up to the tune of over $50 million dollars, in which it would commence to purchase out other IT companies (the model for this was taken from the dealings of Safenet- who bought out most competitors or friendly companies that it had dealt with) and in turn continue to purchase up other companies.
As Senetas share price would rise on each successful takeover/ merger, at some stage the “IKL MANAGEMENT P/L” would then put in an offer to buy out all shares in Senetas, and make the company private and take it offshore.