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.”