Totally agree with you Smilez and was about to post the same. It is obviously a closed period being within 30 days of the quarterly. http://asx.com.au/asxpdf/20101222/pdf/41vshrsr6pzvky.pdf
The fact that he was given approval likely means there is no imminent announcement. Who would sell just prior to a major positive announcement and permission would not be given for any negative or possibly negative announcement.
Why he sold is also largely irrelevant and how he sells is his business and should be of little interest to shareholders. A bad workman blames his tools, while a bad investor blames irrelevant externalities.
Ann: Change in substantial holding , page-54
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