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PPC CEO Roland van Wijnen, whose decision last week to sell more than R25m of his shares in the business sparked a four-day selling frenzy, has defended the move as driven by a desire to gain some liquidity while the foreign exchange market was favourable and not a sign of a brewing storm at the company.

PPC snapped a four-day losing streak that wiped out nearly a quarter of its market value in what analysts say was precipitated by significant stock sales by some of the company’s senior executives this past week...

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