Brussels - Recticel shareholder Farringdon Capital Management (Switzerland) SA, of Geneva, Switzerland, has notified Recticel and the CBFA (the Belgian Banking, Financial and Insurance Commission) that on 9 March 2010 its stake in the Belgian foam group dropped to 2.96 percent of the total outstanding shares with voting rights, from a previous level of 3.49 percent.
The 16 March announcement follows the news that Recticel shareholder Bestinver Gestion S.A. SGICC, a Spanish fund manager, cut its stake in recent months from above 10 percent to just below 3 percent.
Shareholders are obliged by law to disclose such changes to the company and to CBFA.
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