Cargills CEO, family dispose of Rs.2.25bn worth of shares

Cargills (Ceylon) PLC Deputy Chairman and Group CEO V.R. Page and the members of his immediate family have disposed of shares worth of about Rs.2.25 billion, according to a stock exchange filing.
The disclosure to the Colombo Stock Exchange (CSE) showed that V.R. Page, his spouse P.R. Page, daughter L.R. Page and son V.R. Page (Junior) sold a combined 3.57 million ordinary shares in Cargills (Ceylon) PLC, on July 21, at Rs.630 per share.
V.R. Page sold 1.28 million shares, while P.R. Page disposed of 1.68 million shares. L.R. Page sold 288,844 shares and V.R. Page (Junior) sold 317,610 shares, the filing said.
The transactions were disclosed under the CSE’s Listing Rules governing the dealings in shares by the directors and related parties, with the company stating that the notification had been made by the director under Section 200(2) of Companies Act No. 7 of 2007.
The filing did not disclose the identity of the buyer or buyers, the method through which the shares were traded or the reason for the disposal. 
Based on the disclosed transaction price of Rs.630 per share, the combined sale was valued at approximately Rs.2.25 billion.