• Underwriting agreement for up to $1.45 million in unexercised options
• Underwriter to subscribe for shortfall shares if options not exercised
• Funds to be used for general working capital purposes

Senetas Corporation Limited (ASX:SEN) has entered into an underwriting agreement with Taylor Collison Limited (Underwriter) to underwrite the exercise of a portion of the unexercised 40,126,155 SENAN options and 42,852,332 SENAP options that remain at 5:00pm on their respective expiry dates. The Underwriter has agreed to underwrite the exercise of the Underwritten Options up to a total amount of $1,446,685.50 (before costs). To the extent that the Underwritten Options are not exercised prior to their respective expiry dates, the Underwriter will subscribe for the Shortfall Shares and pay the exercise price for the Underwritten Options, and Senetas will issue the Underwriter the Shortfall Shares to raise total new funds of up to the Underwritten Amount. The Underwriter will be paid a 3% management fee and a 3% underwriting fee on the Underwritten Amount. Senetas intends to use any funds received in respect of the Underwritten Amount or from exercise of Options for general working capital purposes.