Ann: Retention Notice - Sale of Unmarketable Parcels, page-18

Nothing irregular or untoward and I agree with you CWS. It is not as if the selling of unmarketable parcels is anything new. I have seen it numerous times and in any event, small holders can top up if they wish, so no problems.
It is very likely that an overhang of small Heron shareholders who have been on the register since day one of ARL's listing and who possibly did not add or apply in addition to the free in - specie ARL shares received as a direct result of their share holdings in Heron Resources at the time of the demerger..

Heron holders received 1 free Ardea share for every 10 shares held in Heron and on that basis, they have had opportune time to add to, or dispose of those shares and in any case, they are STILL being given another opportunity to increase their holding.