Ann: Response to ASX Query re Continuous Disclosu, page-10

re: Ann: Response to ASX Query re Continuous ... Thanks Jake,
Did you notice the date on that article? Nov 2009
Citi Corp have been acting as primebroker for SAAD's 25,500,000 shares (23%) since Sept 2009 (pg66 2009 AR), and probably earlier. No participation in the rights issue in 2010 - and still holding 25,500,000, or 10% in the 2011 AR (Oct 11). I don't think Citicorp have been the seller, but perhaps they'll be motivated now.
NHC and the infrastructure mob, our two 2010 cornerstone investors, bought in for an average of 50c. AK went all in during that rights issue (45c) - to the extent of borrowing money off the Mitchell family to load up (as i recall reading at the time). Two years later, I can't see them selling out cheaply at 65c.
Agree with SF that we could have another cap raising on our hands if westside opt for one of the other strategic initiatives on the table. Today's announcement alluded to them:
1. Negotiations with third parties regarding expansion of the Company’s business [Mungi]
2. gas monetisation opportunities [LNG ltd - if not the predator]
3. Funding of WestSide's current work program [placement to Sophs/Instos?].

That aside, it was a cracker reserves release today. Bring on the auction.
Good luck holders,
Slab