Updater shareholder James Baillieu says a recent discussion with the technology company's chief executive David Greenberg was "constructive and amicable",  with no suggestion that Mr Baillieu's mention of potential legal action if the company did not brief him had any effect on its upcoming capital raising.

Mr Baillieu said the "hypothetical need to exercise my shareholder rights ... is off the table" and that the company was preparing a briefing about the capital raising process, subject to a non-disclosure agreement.