Dechra CEO Ian Page sells £10m of shares

Dechra CEO Ian Page

Dechra Pharmaceuticals plc, the Northwich, Chesire-based veterinary drugs giant, said on Wednesday its CEO Ian Page sold 300,000 of his shares in the company at £34.502 per share for a total of £10.35 million.

Dechra’s share price is up 25% for the past 12 months.

“Ian has also informed the company that he has no plans to make further sales of his holding in the company for a period of at least 12 months,” said Dechra.

“Ian’s continued participation in the company LTIP further ensures his alignment and ongoing commitment to deliver on the company’s future performance targets.

“Following this transaction, Ian continues to retain a beneficial holding of 338,919 which represents 0.314% of the current issued share capital in the company.”

On September 7, Dechra published results for the year ended June 30, 2020, showing revenue growth of 6.8% to £515.1 million.

Dechra’s pre-tax profit rose about 47% to £40.9 million.

Full year dividend increased 8.5% to 34.29p.

Dechra said on September 7 that trading in the first few weeks of the new financial year had been “encouraging.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.