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UNITED STATES SEC File Number
SECURITIES AND EXCHANGE COMMISSION 0-14691
Washington, D.C. 20549
Cusip Number
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One) __ Form 10-K and Form 10-KSB(X) Form 20-F __ Form 11-K
__ Form 10-Q __ Form N-SAR
For Period Ended: December 31, 1997
[ X ] Annual Report on From 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: December 31, 1997
READ ATTACHED INSTRUCTION SHEET BEFORE PREPARING FORM. PLEASE PRINT OR TYPE
Nothing in the form shall be construed to imply that the Commission has
verified any information contained herein.
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If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
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PART I - REGISTRANT INFORMATION
SENETEK PLC
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Full Name of Registrant
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Former Name if Applicable
23 Palace Street
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Address of Principal Executive Office (STREET AND NUMBER)
London, United Kingdom SW1E SHW
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City, State and Zip Code
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PART II - RULES 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check appropriate box)
__ (a) The reasons described in reasonable detail in Part III of
this form could not be eliminated without unreasonable
effort or expense;
X (b) The subject annual report on Form 10-K, or portion thereof,
will be filled on or before the fifteenth calendar day
following the prescribed due date.
__ (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed with
the prescribed time period.
The Registrant was advised by its auditing firm that the auditing was
unable to be finalized for the year end as a result of not receiving
third party confirmation. Attached hereto is a letter from Price
Waterhouse, the Registrant's accounting firm, confirming the within.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Joseph Baratta 212 750-9700
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such
shorter period that the registrant was required to file such reports
been filed? If answer is no identify report(s).
X Yes __ No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year
will be reflected by the earnings statements to be included in the
subject report or portion thereof? X Yes __ No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons
why a reasonable estimate of the results cannot be made.
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Recognition of stock based compensation expense in accordance with APB
25, for the Company's Option plans. Amount involved is circa #3
million in fiscal 1997 compared to nil in fiscal 1996
SENETEK PLC
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date March 30, 1998 By /s/ Paul A. Logan
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Paul A, Logan, Director & Secretary
INSTRUCTION: The form may be signed by an executive officer of the registrant
or by any other duly authorized representative. The name and title of the
persons signing the form shall be typed or printed beneath the signature. If
the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
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PRICE WATERHOUSE
No 1 London Bridge
London SE1 9QL
REPORT OF INDEPENDENT PUBLIC ACCOUNTANT
The Board of Directors
Senetek PLC
23 Palace Street
London, United Kingdom
England
SW1E SHW
Re: Senetek PLC
Gentlemen:
Please be advised that we are not able to complete our audit of your
financial statements to permit you to complete and file your Form 10-K for the
fiscal year ended December 31, 1997 inasmuch as were are not yet in receipt of
certain third party confirmations and audit responses. However, we anticipate
that such information will be received shortly which will permit us to complete
our audit by the first week of April 1998.
We understand that you will include this statement in the Notification of
Late Filing under Rule 12b-25 which you are filing with the Securities and
Exchange Commission and we hereby consent to such inclusion.
Very truly yours,
PRICE WATERHOUSE
By: /s/ C. Tompsett
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London, England
March 30, 1998
