Exec sells 5m shares

Group says that the transactions are due to 'long-term portfolio planning'.

- Moneyweb

DIS-CHEM: DIRECTOR DISPOSES OF R340M WORTH OF STOCK.

One of Dis-Chem's five executive directors, Stanley Goetsch, sold five million shares in the group last Tuesday in a transaction worth R178.2 million. This follows the sale of a further five million shares in June in two transactions valued at a combined R165 million.

When announcing the share dealings last week, the group said the "prescribed officer transacted due to long-term portfolio planning and diversification".

It offered no explanation at the time of the sales two months ago.

Combined, the sales of 10 million shares this year are valued at R343 million. The transactions were all effected through Stansh Proprietary Limited, an entity controlled by Goetsch.

Goetsch, 67, is an executive and was appointed to the board in 2022, five years after the group listed on the JSE. He has been with the group since 2005.