Do not bother yourselves too much about what deal will be done- the guys piloting this little mothercraft leave very little to the imagination. This level of gross and obscene incompetency simply can not be tolerated and given the massive nature of what has been done here, (just to remind you, the Board of Senetas has released a false announcement, something that is not true (to be read as "an event that has not happened")- further, several millions of dollars worth of shares were traded on the back of this announcement after much anticipation and a long suspension which now potentially could lead to legal action against not only Senetas but more specifically each board member as well as Andrew Wilson who also needs to take a long walk south .The beautiful thing about the old paper trail is in most cases, it does not lie. These guys are in deep trouble, I kid you not, and if the likes of Stockdale, Werner and Conolly want to hand a mandate to Galbally and Lunt for a free uncontrolled reign of Senetas, then it will cost them all dearly. At this point, I am more than confident that it will. And I am not just talking about reputations here. I will repeat, this is a very , very serious act of mismanagement. Over and above the incompetence, investors are going to lose money as a result of it. Heads must roll but that alone will not get them off the hook here. If you sit back and say and do nothing in the hope that the good ship Senetas will correct itself, madness prevails in your world. It would also support my contention that the most vulnerable ASX stocks in respect of management checks and balances are those that support predominantly a "mums and dads" share register. Understand this quite clearly, if Senetas had on its register some reasonable sized instos (which it does not, surprise, surprise), a couple of corporate heads would now be merrily rolling on the grubby Senetas boardroom floor. If any Senetas shareholder accepts this position, they need to have a serious look at themselves because that form and attitude will surely lead to a major loss at some point of time. Interdependence is the universal sequence of cause and effect and therefore, even the long term Senetas shareholders who disdain the daytrader and investor (funny though, because they in fact provide the liquidity and volatilty in the market ) will be massively impacted financially by this management incompetence, bottom line.
Things must change today and they will.
Sicilly
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