as i suggested yesterday, the 11 million share seller yesterday had one of two intentions:
1) to exit the company
2) to support the company in its capital raising
Prof Gavrielly (Karmel Medical Acoustic Technologies Ltd) held 71,177,506 shares at 28 Sept 2011. if he sold 37 million shares then this hopefully is to finance his takeup of shares in the capital raising
but...yes...as a substantial shareholder, Karmel Medical Acoustic Technologies Ltd were required to advise the ASX within 2 days once they sold 1% of their holdings or 711,775 shares