Carson Cumberbatch PLC, the controlling shareholder of Lion Brewery Ceylon PLC, last week sold off 500,000 shares of Lion at prices between Rs. 540 and Rs. 550, the Colombo Stock Exchange was notified in terms of its listing rules.
Carsons sources indicated that the parent held strategic stakes in its various subsidiaries with shares outside the strategic limit held in its trading portfolio.
"Such shares may be bought and sold within the fund manager’s discretion when the price is considered right," they said. "That in no way affects the strategic stakes."
Carsons sources indicated that the parent held strategic stakes in its various subsidiaries with shares outside the strategic limit held in its trading portfolio.
"Such shares may be bought and sold within the fund manager’s discretion when the price is considered right," they said. "That in no way affects the strategic stakes."
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