Green Invest plans to raise a minimum of $3 million, up to $5...

Green Invest plans to raise a minimum of $3 million, up to $5 million, through the issue of shares at $1 each.

It will be fully underwritten by Francis Galbally, Michael Kirwan and Ron Lunt, who will each hold 7.18 million shares, or 26.2% of the pre-IPO capital, and 5.83 million options exercisable at $1 before December 1, 2012.

Senetas shareholders will be familiar with some of the names.

Galbally founded that ill-fated IT company and Lunt was a director.

This time last year both sold out to US group IKL Management at 55¢ per share - an announcement made to the market just hours before a profit downgrade.

Senetas closed yesterday at 8.8¢.

http://business.theage.com.au/rudd-makes-it-that-bit-easier-being-green/20071213-1gym.html?page=2