Update, page-51

it’s a huge market and Senetas is winning some of the worlds biggest businesses. Next weeks update will hopefully calm some obvious nerves and we may soon see for the first time one of Senetas investments being re-valued signficantly upwards as opposed to written off. I also think if we get an independent revaluation of Votiro through the external investors we may all feel a little more relaxed.

for me i see Senetas as having significant downside protection at these levels
Ev 43 m odd
12 m investment in Votiro
and the encryption business
some potential value of EON

we are not exactly buying blue skies are we. We are not paying much if at anything at all for what may be significant upside