I don't believe there would be this many impatient people waiting to lose 25% of there value all at once.
I also do not understand why ARSC would need the shares, if they have now received the first Tranch of Funding. I also don't see why St Georges would be in such a hurry to sell shares into the open market to recoup there money either too.
Too many unanwsered questions.
IMO News is pending, and will be here by next week.