I would have considered the sale of 7.5 million shares to be...

I would have considered the sale of 7.5 million shares to be fairly significant (considering it added approximately 30% to the companies cash balance) in terms of disclosure. Whilst they have told the market that they sold them, they have not told us why - many have noted on here that there appears to be little obvious reason for the sale at this point in time. As Dion stated, NLI is normally quite slack regarding their updates to shareholders, but this one was released immediately. I get that it is a judgement call, but from my perspective as a shareholder, I consider it just as material to know what the plan for the 4.8 mil is, and why the sale now. The announcement provides us an update but has not changed timelines or the way in which NLI is progressing the current dispute - so how material is it? NLI felt it necessary to update us on this situation but not on the plan for the injection of the new cash. The update is very specific, and I have to question the reason for its release. If they were so concerned about disclosure requirements, I would expect more information than less.

An update should be exactly that, update shareholders on all current issues, and not a 'pick and choose' scenario.