Ann: Completion of Institutional Offer and Underw, page-2

re: Ann: Completion of Institutional Offer an... Looks like we will see a period of stagnation in the share price. The institutional entitlements will increase shares on issue by 66.5m. With the price now at 32c and the entitlements locked away at 31c, looks like a nice little arbitrage opportunity for these institutions.

Whilst not entirely unexpected, it does mean that we won't see much price appreciation for a little while. Time to turn off the screens or focus on another stock.

My outlook hasn't changed, the cap raising will be good medium to long term. We just have to go through a few sessions of constant selling pressure. I call SAR a LT buy now.