Director's sign of confidence, page-13

ARA In their last notice had only converted about 3M of the underwritten component of the shortfall They or another sub underwriter had about 24 m more than that. I think that accounts for Steves 2.5 m and the other 14m converted on the 22nd and AB's 7.5m

If you add the 14 m to ARA's previously declared 80m you get a total that equals 22.9 % of the final 411 M shares.

Seems they did come from Araiadne. They probably lent Steve the money to put a bit of salt under his tail to spur him along a bit.

Seems we are not in for a take over from ARA .