Brussels - Belgian foam group Recticel SA/NV has announced that the shareholding of Spain-based investor group Bestinver Gestion S.A. SGICC in the company has dropped to under 3 percent.
Bestinver, which manages 5 investment and pension funds, now holds 844 355 shares in Recticel, or 2.92% of the total outstanding shares.
Previously, on 17 Dec 2009, Bestinver's shareholding dropped below 10 percent, and then in early February its shareholding dipped to below 5 percent.
Shareholders are obliged by law to disclose such changes to the company and to the Belgian Banking, Financial and Insurance Commission (CBFA).
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