Merger talk

WA-LISTED Surfboard Limited and Victorian-listed Senetas Corporation have been discussing the pros and cons of a possible merger.

However, both companies appeared miffed during the past week that anyone knows this.

Surfboard Limited requested a trading halt late last week before making an announcement on Monday that market talk of the discussions was, in fact, correct.

Surfboard’s announcement lamented that “conversations in the marketplace” took place despite the two companies’ discussions being “conducted in a confidential manner”.

Senetas chairman and group chief executive officer Francis Galbally followed this with a statement labelling all talk of a possible result as “speculative”.

Two-year old Senetas has invested in numerous companies developing and using new data service technology across various industries and already holds a 1.2 per cent interest in Surfboard Securities Limited.

Surfboard Securities is developing an online financial centre carrying a variety of branded services.


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