just came across this report

Just found this report dated 8 November by Australian Stock Reports.
Although "old" report the contents are still relative - apologies if this info has been previously posted.

....
COMMENTARY

We (and we know many of our members) have been awaiting an announcement from SEN with bated breath, detailing the reasons behind the recent trading halt and suspended trading. We have rumours of a takeover, problems with the books and everything in between.

And the winner is….

…overseas regulatory problems regarding a capital raising. Due to the sensitive nature of SEN’s technology, and its numerous contracts with government departments, any potential major investors have to jump through hoops to get the go-ahead.

It all sounds a bit anti-climactic, but the details are very reassuring. According to the company’s annual report, released the day of the trading halt, the company is planning to place 46 million shares (10% of the company) with a single investor, IKL Management.

55 cents – the new benchmark?

We couldn’t find much information on IKL, apart from the fact they are an unlisted UK-based company, but the fact that they are paying 55c suggests they approached SEN for the stake.

Usually when a company initiates a capital raising, it places its shares at a discount to the latest price. The share price of a company usually gravitates towards the placement price following a significant raising.

The announcement certainly seems to be very positive. We expect SEN shares to move to 55c or above when it resumes trading, and hence are happy holding SEN (not that we can sell at the moment).

The market’s reaction when SEN resumes trading around 15 Nov will be key to the company’s near-term share performance. HOLD.