There is nothing ominous in the two share sales that grossed over R100 million, says Altron Group founder and chairman Bill Venter.
The family patriarch, together with Robbie Venter - Venter Snr's son and Altron chief executive - issued a statement saying the share sales formed part of a portfolio-balancing exercise.
"It is customary for directors to buy and sell shares and there is nothing ominous about this transaction. The fundamentals of the group remain sound with above average growth being achieved," they said.
The Venters point out that the 2.7 million shares sold in various tranches formed only a small percentage of Venter Snr's total investment in the company.
"The share sales have not impacted on the group control structure, with the Venter family having a voting position of greater than 50% of the group. [Venter Snr] continues to have the greatest confidence in SA and the Altron Group, while the Altron Group continues to make multimillion-rand investments both locally and abroad," they concluded.
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